FICO Doubles the Power of Cybersecurity Score to Predict Breaches
HIGHLIGHTS:
- The latest analytic model in the FICO® Enterprise Security Score is twice as accurate at predicting a data breach as the previous model, and more than four times as powerful as the best results claimed by competing solutions.
- New data sources, including access to industry-standard firmographic information, allows better identification of organizations and enables key vendor management tasks.
- The FICO Enterprise Security Score gives subscribers the ability to assess the cyber breach risk of their organization and their partners, and improves breach insurance underwriting.
Additionally, integration of industry-standard firmographic data and reference identifiers enables quicker and more assured identification of subject organizations and provides additional insight for key supply chain management tasks. FICO has incorporated this information into the product's user interface, and has enabled streamlined entity identification by common firmographic reference identifiers.
For more information or a free trial, visit: https://securityscore.fico.com
"Accurate prediction of cyber breach in the next 12 months is the goal of the model," said
The power of the FICO® Enterprise Security Score has a strong appeal for insurers dealing in cybersecurity risk.
"We selected the FICO Enterprise Security Score because of its empirical approach to scoring risk," said
FICO uses machine learning techniques to associate features describing the conditional and behavioral characteristics of organizations' security practices with outcome data (breaches and non-breaches). The result is a high-performing supervised model that quantifies the likelihood of a significant breach event happening over a 12-month period. Because FICO collects data continuously against the entire IP address space, the training data set is always ready to absorb new breach cases, and the scoring engine is always ready to take time-dependent organizational behavior into account in calculating the risk of breach.
"The addition of the firmographic data, including common reference identifiers, helps the score's users understand the scope, scale, location and nature of the organizations they evaluate," said Clare. "Understanding these characteristics helps the user categorize their vendors and business partners, and allows for a better understanding of supply chain risk exposure."
The new scoring algorithm, integration of firmographic data and related enhancements in the user interface are now in production and in use by FICO's subscribers.
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SOURCE FICO
Media: Greg Jawski for FICO, Voce Communications, +1 212-601-8248, FICOTeam@vocecomm.com or Investors/Analysts: Steven Weber, FICO, +1 800-213-5542, investor@fico.com