Marsh McLennan welcomes new partnership to bolster clients' cybersecurity

Role of brokers in proactively managing cyber risk highlighted

Marsh McLennan welcomes new partnership to bolster clients' cybersecurity

Insurance News

By Ryan Smith

Marsh McLennan and security ratings company BitSight have announced a collaboration aimed at helping organisations better understand, measure and manage cyber risk.

Under the partnership, Marsh McLennan’s recently announced Cyber Risk Analytics Center will use BitSight security ratings, data and analytics to help clients better understand their cybersecurity performance and make more informed risk management decisions. Access to BitSight will allow clients to seamlessly receive the information, rapidly identify potential vulnerabilities, and enact mitigation strategies. The two firms will also pool their insights to collaborate on research and analysis.

“2021 is shaping up to be one of the most challenging years for cyber risk on record, and we continue to hear from clients that cybersecurity is among their most urgent risk concerns,” said Scott Stransky, head of the Marsh McLennan Cyber Risk Analytics Center. “By collaborating with BitSight, we are providing clients with more data-driven insights to better manage risk in an increasingly difficult cybersecurity landscape.”

“Cyber insurance brokers now play a critical role in helping their clients actively manage cyber risk,” said Stephanie Snyder Frenier, vice president and general manager for insurance at BitSight. “This marks an exciting opportunity to share our cyber risk data and expertise to help Marsh McLennan counsel their clients on reducing risk of cyber exposure.”

BitSight also recently announced partnerships with Moody’s and Glass Lewis to expand the marketplace’s understanding of cybersecurity and improve the way organisations measure and manage cyber risk.

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