AIR Ties-up with BitSight and RBS for Advanced Cyber Risk Model

By CIOReview | Monday, September 28, 2015

BOSTON, MA: AIR worldwide, provider of risk management solution is collaborating with security and cyber data provider BitSight Technologies and Risk Based Security (RBS) to develop an advanced cyber risk model. The model aims to guide insurance company in protecting themselves from potential cyber attacks by adapting latest updates and complete incident data, real-time security ratings of companies, exposure data and supplier data in the cyber supply chain.

AIR will leverage terabytes of data gathered by BitSight from sensors deployed across the internet and RBS will provide industry-specific details including threat vectors and vulnerabilities and data breach information on business, industries and geographies. This will allow AIR to build an apt model in order to secure companies from cyber threats. Additionally AIR’s Cyber Risk Model will offer a set of objectives that will allow companies to understand and adapt the model.

"Leveraging these key data assets from BitSight and Risk Based Security is a major step forward in developing a robust cyber model. We're developing a comprehensive cyber industry exposure database that can enable us to better estimate potential financial losses to entire sectors and portfolios due to common vulnerabilities. The AIR model will be critical to a true understanding of the financial implications of cyber attacks, including the aggregation risk associated with a mega-scale attack," said Scott Stransky, manager and principal scientist at AIR Worldwide