VisibleRisk – A New Beginning For CRQ & Cyber Resilience Ratings
In May of 2021, Moody’s Corporation and Team8, a global venture group, announced the completion of a $25 million investment in VisibleRisk, a joint venture established by the two companies in 2019 to evaluate enterprise cyber risk. Additionally, VisibleRisk announced the launch of their next gen Cyber Risk Quantification (CRQ) platform, building on the collaboration between Moody’s and Team8 to develop a global standard for assessing corporate cyber risk.
“Moody’s investment in VisibleRisk aligns with our global integrated risk assessment strategy and focus on cyber security as an important element of understanding and managing enterprise risk,” said David Platt, Chief Strategy Officer at Moody’s. “We are pleased to deepen our relationship with VisibleRisk as they launch their innovative Cyber Resilience Rating to help customers better understand and confidently manage their cyber risks.”
VisibleRisk’s Cyber Resilience Ratings are based on cyber-risk quantification, which allows companies to benchmark their cyber risks against those of their peers, and to better understand and manage the impact of cyber threats to their businesses. Combining economic, cybersecurity, and industry data, the Cyber Rating incorporates a holistic, validated set of internal and external factors affecting a firm’s security posture and quantifies those risks in economic terms.
“Translating cyber risk for business executives who are not domain experts is crucial to successfully managing risk,” said Derek Vadala, Chief Executive Officer of VisibleRisk. “By quantifying a company’s risk exposure in economic terms, VisibleRisk is providing decision-makers with an actionable, real-time benchmark to best manage cyber risk and improve resilience.”
VisibleRisk’s Cyber Ratings are enhanced by real-time monitoring, custom reporting, and expert analysis, enabling informed decision-making. VisibleRisk offers full transparency into the factors that determine a Cyber Resilience Rating, including the methodology and data sources.