Organizations are often in the dark when it comes to understanding the actual security performance of critical third parties or even assessing the impact of their own security programs and policies. This is due to a lack of objective metrics and tools that help measure and mitigate cyber risk across the business ecosystem.
In 2011, BitSight pioneered the security ratings market, founding the company with a solitary mission: to transform how organizations evaluate risk and security performance by employing the outside-in model used by credit rating agencies.
Integral to Business Decisions
From vendor risk managers to cyber insurance underwriters and board advisors, thousands of users trust BitSight’s data quality to make business decisions every day. We provide best practice support—developed through years of experience—for many activities:
- Rapidly assessing vendor risks as part of the RFP and selection process.
- Continuously monitoring vendors and remediating risks.
- Assessing cyber insurance applicant risk and associated premium.
- Monitoring insureds and addressing rating dips when they occur.
- Presenting the cybersecurity posture of your company and supply chain to the board.
Proven for Managing Risk
We’ve revealed that companies with a BitSight Security Rating of 400 or lower are five times more likely to experience a security breach than those with a rating of 700 or higher.
Our ratings-to-breach correlation data is independently verified by external agencies such as AIR and Advisen. Risk managers and underwriters can make confident decisions using BitSight ratings to prioritize and better focus on third parties with lower ratings.
Access years of research in the BitSight Insights collection to learn more about the power of BitSight data.