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May 6, 2015 7:00 AM ET

Archived: Bitsight: We operate in a world of escalating security threats and increased pressure to treat security as a business problem and not just a technical hazard

iCrowdNewswire - May 6, 2015
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We transform how companies manage technology risk.


We operate in a world of escalating security threats and increased pressure to treat security as a business problem and not just a technical hazard: 

  • High profile breaches that started in the vendor supply chain are increasing the focus on third party risk
  • General Counsels and Board Members are taking a more active role in understanding a corporation’s security performance
  • Cyber Insurance is now a key topic for CIOs, CISOs and Board Members as they assess risk transfer strategies
  • Regulatory bodies are turning up the heat on vendor risk practices and security performance measurement

Unfortunately, we are often in the dark when it comes to understanding the impact of our security programs and policies. We lack objective metrics to measure if we are more or less secure today than we were yesterday and how we are performing against our peers. The problem is only worsened when we try to measure the security posture of third parties in our business ecosystem. The tools at hand to measure and mitigate security risk are inadequate.  Security assessments are useful, but static, subjective and limited. Audits and tests are costly and intrusive. To truly identify, quantify and mitigate security risk, organizations need a solution that is continuous, automated and provides objective, evidence-based measures of security performance.

Introducing BitSight Security Ratings:
A Better Way to Assess Vendor Risk and Evaluate Security Performance

BitSight was founded by innovative entrepreneurs and successful security market pioneers who knew a better solution was possible.  Their mission:  to transform how organizations evaluate risk and security performance.  They had a simple but profound solution: forget going deeper into policies and procedures; instead follow the outside-in model employed by consumer credit rating agencies.

Applying this model involves continually collecting and analyzing vast amounts of external data on security behaviors and security policy implementations. No questionnaires are presented and no intrusive tests are conducted on the network being rated. BitSight Security Ratings measure a company’s security performance using an empirical and objective data-driven method.

BitSight Security Ratings have demonstrated their value in the following use cases and more:

  • Vendor Risk Management: A leading Fortune 100 financial institution has adopted BitSight Security Ratings to incorporate into their assessment practices for continuously monitoring the security effectiveness of more than one thousand vendors
  • Benchmarking: A Fortune 500 global healthcare and research company has embedded BitSight Security Ratings into their security controls to assess effectiveness of security initiatives
  • Cyber Insurance: A top Fortune 100 global insurance firm became a user of BitSight’s Cyber Insurance solution to assess cyber risk for applicants and insureds
  • Portfolio Management/ Mergers & Acquisitions: Four of the top five Private Equity firms in the world endorse BitSight Security Ratings for portfolio management


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