Security ratings are an objective, data-driven, quantifiable measurement of an organization's overall
cybersecurity performance. Security ratings provide businesses and government agencies with a third-party, independent view into the security behaviors and practices of their own organization as well as that of their business partners. Security ratings are a useful tool in evaluating
cyber risk and facilitating collaborative, risk-based conversations.
According to
Gartner
Gartner, Inc is a technological research and consulting firm based in Stamford, Connecticut that conducts research on technology and shares this research both through private consulting as well as executive programs and conferences. Its clients ...
, cybersecurity ratings will become as important as
credit ratings when assessing the risk of existing and new business relationships. Gartner predicts that these services will be a prerequisite for business relationships
Security Rating Services
The adoption of security rating services platforms is on the rise. In fact, Forrester Consulting found that 87% of respondents find security ratings valuable (37%) or extremely valuable (50%). There are a number of companies that provide security ratings services, including ISS, SecurityScorecard
myCYPRPanorays
BitSight
BitSight is a cybersecurity ratings company that analyzes companies, government agencies, and educational institutions. It is based in Back Bay, Boston. Security ratings that are delivered by BitSight are used by banks and insurance companies amon ...
FortifyData
RiskRecon
Black Kite
and UpGuard.
Security Rating Services in 2020
The COVID-19 pandemic has created a completely different environment for cyber-risk. According to S&P Global Ratings, rating services may become an exception to these changes in the world of cyber-risk.
References
Risk management
Security
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