Understanding and building cyber resilience
The exponential rise of cyberattacks and ransomware has cost companies billions of dollars, threatened the stability of businesses across the globe and created an imperative for business leaders and boards to assess and quantify their cyber risk.
Understanding cyber risk is critical to informing key strategy decisions – from security initiatives to budget allocation – and extends to a company’s supply chain risk, investor confidence, and operating transparently with regulators and the market.
Through the transaction announced on September 13, 2021, Moody’s will make a significant investment in BitSight, a pioneer in cybersecurity ratings and analytics, and BitSight will acquire VisibleRisk, a cyber risk quantification joint venture created by Moody’s and Team8, a global venture group.
Moody's investment advances its mission as a global integrated risk assessment firm – providing cybersecurity ratings and analytics at scale to help leaders make better decisions.
Cybersecurity experience & reporting
Very large companies report more cyber expertise at the board level
% of board directors with cyber credentials
P&C insurers report on cyber to board committee twice a year on average
Times per annum head of cybersecurity reports to board committee
Global Cyber Risk Issuer Surveys
How do we measure cybersecurity risk, performance and exposure?
BitSight is transforming how the market addresses cyber risk through cybersecurity ratings and analytics, helping leaders make critical decisions regarding risk management, quantify financial exposure, prioritize security initiatives, allocate budget and resources, and report effectiveness to board directors and stakeholders.
Through the acquisition of VisibleRisk, BitSight will enhance these capabilities, allowing companies to conduct deeper analysis and better understand their overall cyber resilience.
How can data and insights help quantify the impact of a potential cyber attack on a company’s financial performance?
Financial quantification of cyber risk has become a critical issue for enterprises.
BitSight offers an industry-leading financial quantification solution that allows decision makers to analyze and calculate an organization’s financial exposure to cyber risk. VisibleRisk has also developed an innovative approach to financial quantification of cyber risk. The transaction announced in September 2021 will allow BitSight and VisibleRisk to build on their leading offerings to deliver a suite of solutions and analytics that support financial quantification of cyber risk, measuring cyber value at risk and other critical analytics that serve a variety of stakeholders ranging from CISOs to executives.
Four primary risk factors
“Providing trusted insights and standards that help decision makers act with confidence is at the heart of our business. As the disruption and impact of cyber-related losses continues to grow exponentially, the ability to better understand, measure and manage cyber risk and exposure is critical. We are delighted to partner with BitSight, the leader in cybersecurity ratings, to help our customers build cyber knowledge to fortify operational resilience and support the growth of their businesses.”
Moody’s and BitSight announce creation of leading cybersecurity rating platform
Moody’s and Team8 announce investment in VisibleRisk as it launches cyber rating
Moody’s and Team8 launch joint venture to create a global cyber risk standard
Moody’s integrates cyber risks into credit analysis