BitSight is the only cyber security rating which has been independently correlated with cyber breach risk and stock market performance. It has recently analyzed security ratings of 27,000+ companies.
In the digital economy of today, cybersecurity has become an important aspect. No company wants to wake up to find out that their information has been compromised thanks to a cyber breach at one of the companies they are associated with. Even today, the world continues to grapple with the after-effects of one of the largest cyber-attacks in history. The attack on SolarWinds was one of the most serious supply chain attacks ever.
BitSight is the only cybersecurity rating that has been independently correlated with cyber breach risk and stock market performance. BitSight has recently analyzed security ratings of 27,000+ companies. The various companies as a part of the analysis varied by size and geography and even spanned 22 diverse industry sectors. During the two years, BitSight observed more than 2,670 cyber breach events! The analysis provided a clear indication that companies with a rating of 400 or lower were five times more likely to experience a data breach than those with a 700 or higher rating.
BitSight Technologies is a private company based in Boston, USA. BitSight offers the most widely adopted cybersecurity ratings. BitSight’s mission is to change the way the world addresses cyber risk. To BitSight’s credit, more than 50% of global insurance premiums are written by BitSight customers! 20% of governments worldwide use BitSight data to protect their national security.
BitSight today is seven of the top 10 largest cyber insurers, 20 percent of Fortune 500 companies, 5 out of the top 5 investment banks, and 20 percent of the world's countries (Critical National Infrastructure solution offering). The company has 32 patents with over 40 million rated companies.
To put it simply, BitSight collects data from over 260 billion cyber events occurring every day from over 120 sources. These are put through a sophisticated algorithm to produce a daily cybersecurity rating. The ratings range from 250 (low) to 900 (high). The ratings are graded on a 23 risk vector scale and a minimum 12-month history.
BitSight cybersecurity ratings are akin to credit scores. They ensure communication of cyber risk as a business risk effectively to all stakeholders (including the company’s board of directors).
The BitSight Security rating platform enables companies to implement use cases such as competitive ratings benchmarking, vendor risk management as well as planning for mergers and acquisitions. The ratings help companies manage their own cybersecurity performance, conduct diligence, assess and mitigate third-party risk. BitSight also offers an on-demand, analytical view of a company’s financial exposure to cyber risk in rupee terms - BitSight Financial Quantification for Enterprise Cyber Risk.
An exclusive offer for Livemint readers
Bitscore Cybertech LLP is now offering a free BitSight Security rating snapshot for any company based out of India. The BitSight Security Rating Snapshot is a customised report for your company and features your overall cybersecurity rating. The snapshot includes details on:
- Malware and botnet activity detected in your company
- Attack surface analytics like Open Ports and patching cadence
NIST Cybersecurity Framework v1.1 enables a company to Identify, Protect, Detect, Respond and Recover to manage cyber risk. Bitscore now enables you to measure cyber risk for any company based on objective, verifiable, data-driven dynamic measurement.
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Never miss a story! Stay connected and informed with Mint.
our App Now!!