FICO Enterprise score gives long-term view of cyber risk exposure

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FICO Enterprise score gives long-term view of cyber risk exposure

Score provides an external rating of a firm’s network security.

Staff on October 27, 2016

Analytic software firm FICO today launched the FICO Enterprise Security Score, a metric that reveals the likelihood an organization will be breached due to a cyber attack. This score can be used by an enterprise to understand and shore up its defense gaps, and by third parties such as cyber insurance providers, potential partners and customers who need an objective measure of a firm’s cyber risk.

The FICO Enterprise Security Score is an upgrade of the solutions previously offered by QuadMetrics, which FICO acquired in May. FICO upgraded the QuadMetrics analytics with FICO’s advanced analytics technologies that power various industry-leading solutions from FICO, including FICO® Falcon Fraud Platform.

The FICO Enterprise Security Score performs a complex assessment of network assets, applies advanced predictive algorithms, and then condenses the results down to a three-digit score that rank-orders based on the odds of breach for an organization, allowing an empirical comparison of organizations’ cyber security risk.

The score represents the likelihood of the enterprise suffering a material breach in the next 12 months. Organizations can use this score to understand and track their own performance, or share it with business partners as an easy-to-understand surrogate for a more in-depth exchange of security posture details. The score comes with current threat profile characteristics and granular insights into potential security issues.

“The need for a standard, empirically derived analytic measure of cybersecurity risk gets stronger every day,” said Doug Clare, vice president of cybersecurity solutions at FICO. “There have been attempts to quantify a firm’s security posture, but they lack the predictive element, which is FICO’s specialty. We aim to bring to cybersecurity the consistency, transparency and predictive power we have brought to credit history in the US through the FICO Score.”

The FICO Enterprise Security Score is backed by a highly scalable, cloud-based platform that evaluates the entire Internet address space for information to assess the security of any network. This is updated with billions of data points from around the globe, and enhanced with public and proprietary source information. There is no software or hardware to install, and no integration work to perform.

“To date, cyber insurance underwriting has been challenging, as threats change constantly,” said Clare. “Without a clear industry benchmark or standardized risk criteria, insurers have had to rely on a wide range of high-touch methods and judgmental criteria when establishing cyber policies and premiums. The FICO Enterprise Security Score delivers a trusted, empirically derived, long-term view of cyber risk that can improve not only the underwriting process but ongoing portfolio risk assessments.”

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FICO Enterprise score gives long-term view of cyber risk exposure