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Digital assets and their role in value creation are the starting point for cyber risk analysis. Unfortunately, a lot of insurance policies are written without a reliable inventory of those assets or a clear understanding of their role or importance.
CyRisk starts by identifying the cyber assets insureds possess, and the meaningful cyber risk associated with those assets. CyRisk provides a suite of tools to help Insurance Carriers, Underwriters, Brokers and Reinsurers to make informed, fact-based decisions about insuring cyber risk. CyRisk reports are focused on the risks that matter, and they are customizable to meet the needs of a range of audiences, from Risk Managers to C-Suite Executives to IT and Security Professionals.
Insurance companies are also putting CyRisk on their risk management and loss-control platforms. Policyholder take-up rates are hovering around 50%.
Technology is a broad industry category, and CyRisk has been used successfully by a wide range of technology companies. The unique mix of attack surface management, compliance automation, vendor risk management, threat intelligence and asset management has proven to be a winning combination. Your company must protect not only its customer data, but also critical supply chains, connected networks, and digital assets. You’re expected to comply with Service Level Agreements, customer security requirements, and more regulatory frameworks like GDPR. With thorough and easily trackable vendor risk assessments, CyRisk can help you to secure every link in your supply chain to stay ahead of industry standards and in compliance. Further, CyRisk gives you the ability to protect your infrastructure from malicious attackers by identifying vulnerabilities along with remediation steps, guidance and hands-on support if needed.
HIPAA compliance is the starting point for the majority of organizations in the healthcare space and conducting a risk analysis is the first step in identifying and implementing safeguards that comply with and carry out the standards and implementation specifications in the Security Rule. CyRisk automates HIPAA Security Risk Analysis § 164.308(a)(1)(ii)(A), and streamlines compliance with the Business Associate Standard § 164.308(b)(1) and § 164.314(a)(1). CyRisk also automates specific compliance requirements established by Covered Entity and upstream Business Associate Breach Notification requirements.
Securing healthcare organizations is particularly critical, given the health and safety implications of a security breach, as well as the fact that healthcare has been specifically targeted by malicious actors for many years. CyRisk helps healthcare organizations protect infrastructure, while reporting cyber risk exposures in your attack surface. CyRisk helps you secure your supply chain from top to bottom, by conducting vendor risk assessments and making it easy to ensure all vendors meet your compliance requirements. CyRisk can help you, and each of your vendors meet security and privacy compliance obligations. CyRisk also helps any federal contractors manage compliance with NIST SP800-171 and CMMC. Let CyRisk help you protect your patient’s data by providing crucial cybersecurity insights, risk analysis and managing compliance flows.
The financial industry has been the target of many of the worst cybersecurity breaches in history and must meet numerous regulatory compliance requirements to keep customers’ data safe. CyRisk provides a comprehensive, integrated cyber risk management platform that protects your infrastructure. CyRisk also helps you secure your supply chain from top to bottom by conducting vendor risk assessments and managing compliance with FFIEC, SOX, SOC 2, PCI, GDPR, ISO 27K, as well as several other compliance requirements.
CyRisk has also been employed as part of the Mergers and Acquisitions Due Diligence Process, as well as post-acquisition security and compliance rapid clean-up.
Educational institutions face unique challenges when it comes to cybersecurity. By its very nature, education involves the free and open sharing of information, and at the same time, educational institutions possess a range of sensitive, regulated information, sometimes in very large quantities. Many higher education institutions have sprawling infrastructure, frequently accompanied by decentralized management and control. Budgetary constraints are often another challenge hampering cybersecurity projects, and COVID has not been kind to the educational community in that regard either.
CyRisk is comprehensive, integrated cyber risk management platform. It is an effective, yet affordable solution that combines several disparate tools to protect even a large institution’s infrastructure from exploitation. CyRisk also helps you secure your supply chain from top to bottom, by conducting vendor risk assessments, and managing compliance with FERPA, NIST SP800-171, CMMC, privacy regulations, as well as other compliance requirements.
Attacks against manufacturing companies increased 300% in 2021. Meanwhile, industrial cyber insurance premiums rose over 34% in Q4 of 2021 alone, according to the Council of Insurance Agents & Brokers. And many companies in the sector simply cannot get decent coverage since ransomware gangs have targeted manufacturing companies, locking up poorly protected systems and in bringing production to a standstill.
Manufacturers face many challenges securing complex IT and Operational Technology (OT) environments, with poorly secured legacy systems and very narrow maintenance windows. In addition, customers have become more demanding with regard to security and compliance. With limited time and restricted ability to patch proprietary systems, attack surface management is critical to securing manufacturing infrastructure.
CyRisk provides a comprehensive, integrated cyber risk management platform that includes attack surface management, supply chain risk management, asset discovery and inventory as well as customer, industry and regulatory compliance management. And CyRisk does all this while reducing complexity, so current staff can do the job and get it done well.
by Use Case
Third Party/Vendor Risk Management
Today, many cyber-attacks start with vulnerabilities in a Third-Party Service Provider or Vendor. An attacker will leverage the trust your company puts in a vendor with weak security by exploiting the elevated access you give to your vendors. CyRisk automates third-party and vendor risk management, using both outside-in and inside-out data, combined with expert support to help you evaluate and mitigate security weaknesses before they are exploited.
CyRisk creates immediate evaluations of all of your vendors; combining thorough investigations of your vendors’ security posture and internal assessments and attestations. CyRisk’s extensive Third-Party Risk Management tools will help you stratify your vendor risk and focus on ensuring your critical vendors are secure and accountable.
Supply Chain Risk Management
Managing your supply chain risk now extends not only to the security of your vendors, but also the security of their tech stack and their ability to meet your customers’ requirements. CyRisk streamlines the security and compliance assessment process, so you can conduct both internal and external assessments, establish benchmarks and goals, for you and for your vendors. CyRisk helps you ensure and prove that you and your vendors meet all of your customer’s requirements, all the way from the customer to across your supply chain.
Enterprise Risk Management
Primarily seen as an operational risk, cyber risk has long been a problem child for enterprise risk managers. Not long ago, there as a general lack of quality data relating to cyber risk, and virtually no consistency which made data normalization virtually impossible. Establishing probability and impact scales for cyber could only be done with expert (subjective) opinion.
Today, the picture with regard to data has changed. Now there is a great deal of data, but establishing which data to use, and how to determine impact make cyber risk quantification just as challenging as ever. At CyRisk, we take a less complicated approach. We start with the assets. Many organizations are surprised to discover the extent of their digital ecosystem and how many of their digital assets are improperly exposed to unnecessary risks. CyRisk allows organizations to discover assets they may not have known existed, and it allows you to perform a comprehensive audit of your attack surface.
CyRisk builds a reliable risk analysis based on this foundation, along with additional data to establish asset value, associated privacy and compliance risks, and potential impacts to the enterprise.
With CyRisk, you can generate, track and report to the board on security metrics drawn from internal assessments, supply chain risk, and customer compliance, combined with real-time security risk analysis.
Mergers and Acquisitions
Remember when Verizon bought Yahoo and then dropped the price by nearly $500 million after the extent of the Yahoo data breach became known? When considering any kind of integration with another company, CyRisk evaluates the target company’s cyber risk, and provides a full report on the target’s cybersecurity exposure. CyRisk has been successfully deployed as part of the Mergers and Acquisitions Due Diligence Process, as well as post-acquisition security and compliance rapid clean-up.
CyRisk creates Risk Analysis Reports, so your team is fully equipped with thorough and easy-to-understand security data before moving forward with any M&A agreements.
Many companies don’t know they’ve been compromised until it’s too late. When a company is compromised by a security incident, the focus is rightly on how to respond quickly and efficiently, to stop the bleeding, make sure everything is secure, and to get back up and running as quickly as possible. The CyRisk rapid response team conducts forensic investigation to evaluate what actually happened, how best to respond, and how your company can minimize any future risk. Using alerts, continuous monitoring, and zero-day exposure intelligence, CyRisk can help to identify and fix any vulnerable systems and stay ahead of future attacks.
Cybersecurity is complex and confusing for non-experts. For your organization to have the best cybersecurity posture possible, everyone on your team must understand your security needs, especially senior leadership. CyRisk always builds communications for multiple audiences, including technical and non-technical reports. CyRisk ensures all your teammates–those with tech backgrounds and those without–can understand your organization’s security posture and needs by creating easy-to-understand, intuitive reports and visualizations.