Global professional services firm and insurance brokerage Marsh McLennan has embraced the BitSight security ratings platform to help organizations understand, measure and manage their cyber risks.
The effort involves Marsh McLennan's Cyber Risk Analytics Center, which will leverage BitSight Security Ratings, data and analytics capabilities. The BitSight Security Ratings Platform leverages algorithms to:
- produce daily security ratings;
- help organizations manage their own security performance;
- mitigate third party risk;
- underwrite cyber insurance policies;
- conduct financial diligence; and
- improve national security.
Marsh McLennan Cyber Risk Analytics Center: More Details
Meanwhile, The Marsh McLennan Cyber Risk Analytics Center is an enterprise-wide resource that brings together the cyber risk data and analytics expertise of its Marsh, Guy Carpenter and Oliver Wyman businesses to "provide clients with a comprehensive view of their cyber threats, the maturity and availability of their existing and future controls, and the economic impact of their risk."
Furthermore, Marsh McLennan and BitSight are using their respective cybersecurity insights to perform joint research and analysis.
The potential size of the Marsh McLennan-BitSight relationship is unknown, though Marsh McLennan brings enterprise-class credibility to the relationship. Indeed, the professional services firm's Q3 2021 revenue was $4.6 billion, up 16% compared to the third quarter of 2020.
BitSight Partnerships, Business Growth
Meanwhile, BitSight has been building relationships with multiple businesses -- including partnerships with credit ratings provider Moody's and Glass Lewis, a global governance solutions company. Those partnerships surfaced in September 2021.
The Moody's and Glass Lewis partnerships provide the organizations' customers with access to BitSight's platform, according to a prepared statement. This ensures Moody's and Glass Lewis' customers can use BitSight's platform to analyze and address cyber risks.
BitSight has a PartnerEDGE Program for technology integrations, though it's an invitation-only program.
BitSight's overall business apparently is in rapid growth mode. Indeed, annual revenues surged 280 percent, according to the latest Deloitte Technology Fast 500 report. Still, actual revenue dollar figures and profits (or losses) were not disclosed.
