The Marsh McLennan Cyber Risk Analytics Center (Marsh McLennan) analyzed BitSight’s cybersecurity performance data to consider its potential benefits for market participants in helping to prioritize resources, address security risks, lower the probability of experiencing a cybersecurity incident, reduce insurance claims, and improve the cyber insurance underwriting and acquisition process.
After comparing the security performance data of thousands of organizations that experienced cybersecurity incidents against those that did not, Marsh McLennan identified 14 BitSight analytics, including the BitSight Security Rating and 13 risk vectors, that had statistically significant correlation to reported cybersecurity incidents.
These findings provide actionable insights to help cybersecurity and cyber risk stakeholders focus on which aspects of their organization’s security processes need improvement, and inform resource allocation, programmatic decision-making, and cyber insurance underwriting.