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BreachBits Launches BreachRisk, a New Cyber Risk Scoring Standard

Cyber-Risk management
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BreachBits BreachRisk will enable corporations, managers, insurers, and others to assess the likelihood of a data breach regularly, as well as communicate and quantify their risk reduction using a simplified cyber risk score. BreachBits launched BreachRisk as a standard for understanding, measuring, and communicating cyber risk. It is built by the veterans of US military cyber warfare and is based on the same methods used by hackers.

John Lundgren, BreachBits CEO and Co-Founder stated, “Our goal is to help organizations confront the rising tide of ransomware and other cyber-attacks that are increasing every year. To accomplish that, you need more than strong defenses and advanced cybersecurity technology. You need to include more stakeholders in the effort. With BreachRisk, we’ve taken the complicated processes that hackers use and translated that into a cyber risk score. Now everyone from the server room to the boardroom can better manage risk knowing where hackers will break-in.”

The BreachRisk score employs a 10-point scale to communicate the relative risk of a cyber breach while avoiding technical detail. The context, such as level of rigor, fidelity achieved, and risk range, is factored into the score. BreachRisk report provides the next level of insight into that score, allowing you to understand and influence it. The cyber risk scoring standard is simple to grasp and enables the organization to safely share its risk summary with trusted funders, cyber insurance providers, holding companies, or new partners.

J. Foster Davis, COO and Co-Founder of BreachBits commented, “BreachRisk helps you understand the risk of other companies, not just your own. Whether you’re trying to estimate risk for cyber insurance rates or conducting due diligence before a key acquisition, you can easily compare an organization’s risk over time or even compare companies to make smarter business decisions.”

The BreachRisk scoring technology relies on dynamic and strategic risk management principles, used by organizations ranging from the Pentagon to Wall Street. BreachRisk also acknowledges threats with active attack methods that go beyond the National Vulnerability Database and integrates the Common Vulnerability Scoring System standard to characterize all threats in a coherent and compatible manner. The resulting cyber risk score and report provide businesses with the most realistic and understandable breakdown of cyber risks, enabling leaders to make more efficient decisions.

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