Consulting firm Marsh recently launched two cyber security services, Marsh Cyber Monitor and Marsh Cyber View, to help businesses stay on top of threats in real-time, with the services including updated threat indicators and analytics driven understanding of cyber security. The consultancy will collaborate with Cyence to offer these services.
Cyber criminality continues to be the bane of many small and large companies in the UK. Last year 24% of large firms and 12% of small firms disclosed a breach, with the average cost to a large organisation for its worst security breach at between £600 thousand and £1.15 million and for small firms at between £65 thousand and £115 thousand. With the number of Internet of Things devices to reach 50 billion by 2020, the continued increase in interfaces that can be leveraged for access to networks risks further issues for businesses into the near-term.
To help the risk management community identify and manage cyber risks, Marsh has launched its so-called 'Marsh Cyber Monitor and Marsh Cyber View'. The service will be offered jointly, in collaboration with security analytics company Cyence.
Cyber Monitor & Cyber View
Marsh Cyber Monitor provides companies with a set of updated threat indicators that provide comprehensive information regarding the risks faced; how cyber risks are changing; and to benchmark their risk profile against that of peers. Marsh Cyber View provides an ‘analytics-driven view of cyber security vulnerability with customised cyber risk advisory services.’ This includes the analysis of myriad risk factors which are used to give businesses insight into how they may be transferred or how to reduce associated risks.
John Drzik, President of Marsh Global Risk and Specialties, remarks that: “Marsh has always been at the forefront of helping our customers with emerging risks. Cyber-attacks are a rapidly escalating threat and companies face a significant challenge in managing their risk. Marsh is assembling world-class technologies and services to enable our customers to holistically understand their cyber exposures and consider their risk mitigation and risk transfer options.”