FICO is developing a FICO® Enterprise Security Score, which will rank an organization's level of cybersecurity risk.
The FICO Enterprise Security Score will be a metric that will facilitate board-level risk assessment, third-party vendor management, and cyber breach insurance underwriting. Along with a score, the product will provide current threat profile characteristics and granular insights into potential security issues.
According to the company, the new product will leverage both quantitative and qualitative insights to assess and understand the risk of an organization's network assets. It will also help organizations manage similar risks associated with key vendors, business partners and other third parties, and enable breach insurance brokers and underwriters to better and more consistently assess enterprise risk for underwriting and portfolio management.
"We believe cybersecurity can only be substantially and sustainably improved through creating a strong ecosystem, and a vital part of that ecosystem is a common rating that all parties can use to evaluate cyber risk," said Doug Clare, vice president of cybersecurity solutions at FICO. "Just as the FICO Score gave credit markets a single metric for understanding credit risk, this product will give the industry a common view of enterprise cybersecurity risk."
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