Reinsurance News

Barbican partners with FICO to offer cyber risk assessment tool

22nd January 2018 - Author: Staff Writer

The Barbican Insurance Group has partnered with software analytics provider FICO to offer a cyber threat monitoring and vulnerability assessment solution, the FICO Enterprise Security Store Portrait (FICO ESS Portrait).

Cyber risk insurance and reinsuranceBarbican will now provide all its cyber insurance clients with a free subscription to the product.

Graeme King, business group leader for cyber at Barbican, said FICO ESS Portrait “delivers round-the-clock monitoring, exposing potential vulnerabilities and enabling organisations to continuously improve their security against evolving cyber threats.

“This is a key step in the evolution of our cyber insurance offering, taking it beyond risk transfer and using it as a mechanism to help clients bolster their defences and strengthen overall cyber resilience.”

FICO ESS Portrait combines predictive analytics and a database of historical cyber information to identify emerging risks and trends, enabling users to instantly evaluate their current cyber-security measures.

It produces a ‘cyber rating,’ reflecting the likelihood of their organisation to suffer a material data breach or cyber-attack and delivers real-time monitoring of cyber security, providing actionable information to help insureds proactively strengthen their overall cyber defences and mitigate against potential threats.

Doug Clare, vice president for cybersecurity solutions at FICO, said; “by working with Barbican and providing access to our FICO ESS Portrait product, we can promote cyber monitoring and vulnerability assessment as business-as-usual activities for all of their cyber clients.

“The fully scalable, cloud-based system requires no integration work, and makes the process of evaluating and enhancing cyber protection measures as straightforward as possible.”

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