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Maxxsure Announces External Cyber Risk Quantification

Maxxsure Announces External Cyber Risk Quantification

Maxxsure today announced the launch of Version 5 of the Maxxsure Cyber Risk Management Platform that features its newly unveiled External M-Score, a new cyber risk metric that quantifies cyber risk for an organization from an outsider perspective. Maxxsure incorporates the external M-Score into its existing Cyber Risk Management Platform, which the company has been honing since 2018 to holistically quantify both internal and external cyber risk for organizations. The external M-Score serves as a convenient medium through which organizations can continuously identify, quantify and manage cyber risks related to their external digital footprint.

Maxxsure has from the beginning recognized that holistic rating of organizational cyber risk spans the entire people, process and technology spectrum of how an organization operates. Respected annual cyber incident data breach studies continue to confirm the fact both internal and external cyber risk elements factor into this equation. For example, it is known that 85% of data breaches has a human element associated with the root cause of such a cyber incident.

“Most others in the cyber risk rating industry gravitate towards simply performing unsolicited external scans and automating public information data gathering, which is then promoted as a factual and validated cyber risk rating standard. We recognize the convenience in this approach but beg to differ on this being an accurate way to identify, quantify and rate organizational cyber risk,” says Jesper Sahlberg, Chief Technology Officer at Maxxsure. “This is of course not a complete view of organizational cyber risk as the external perimeter only represents the tip of the iceberg, so to speak. In combination with the internal M-Score solution, Maxxsure provides a cyber risk rating and management solution with the highest fidelity in the global market space.”

Features and benefits of the newly enhanced Cyber Risk Management Platform include:

  • Holistic cyber risk quantification with option to view through both an Internal and External lens.
  • Drill-down capabilities to view risk quantification for individual internal and external risks.
  • Comprehensive registry of risks throughout the organization.
  • Memorialization of decisions to remediate, transfer, and accept risks to demonstrate an organization’s diligence in protecting data and assets.
  • Reporting on status of implementation of cyber risk remediation measures to help benchmark progress toward cyber risk management goals.

The External M-Score is available immediately as a feature included with the Maxxsure Cyber Risk Management Platform. Mr. Sahlberg adds, “This is another significant step towards keeping up with the dynamic nature of external threats that also empowers Maxxsure clients to develop a center of excellence for managing cyber risks with due care and diligence.”

Contact us today if you would like to learn more about how to improve cyber risk management throughout your organization.