Tuesday 25th July 2023
BLOG: Limitations of Traditional Security Assessments and How Cyber Risk Ratings Offer a More Comprehensive View
Traditional security assessments have always been crucial in identifying vulnerabilities and mitigating risks in the field of cybersecurity. However, with the emergence of sophisticated cyber threats and the expanding attack surface, these traditional approaches have shown limitations in providing a holistic view of an organization’s cyber risk.
At Orpheus Cyber, we recognize the need for a more comprehensive approach, and that’s why we offer threat-intelligence enriched cyber risk ratings. Our ratings not only provide a more accurate result but also enable organizations to understand their security posture and take proactive measures against potential threats. We will delve into the limitations of traditional security assessments and examine how cyber risk ratings offer a better alternative.
Traditional Security Assessments: Limitations and Challenges
Traditional security assessments have long been a staple in the cybersecurity industry, and they indeed serve a purpose. However, several inherent limitations can hinder their effectiveness in today’s dynamic threat landscape:
Static and Point-in-Time Assessments:
Conventional assessments often offer a snapshot of an organization’s security posture at a particular moment in time. The cyber threat landscape is constantly evolving, making these static assessments insufficient to capture real-time risk exposure.
Lack of Threat Intelligence:
Traditional assessments may rely on known vulnerabilities and generic risk models, but they often lack the vital context of threat intelligence. Without a proactive understanding of potential threat actors and their tactics, these assessments may overlook emerging risks.
Human Bias and Error:
Manual processes involved in traditional assessments can introduce human bias and errors, leading to inaccurate risk scoring and potential false positives or negatives.
The Power of Threat-Intelligence-Enriched Cyber Risk Ratings
At Orpheus Cyber, our approach to cyber risk assessment is founded on a threat-intelligence enriched model, which provides a host of advantages over traditional methods:
Our cyber risk ratings are calculated based on the organization’s actual threats, vulnerabilities, and likelihood of exploitation. Leveraging threat intelligence, we can predict future threats with an impressive accuracy rate of at least 94%, empowering organizations to take proactive measures.
Continuous Monitoring and Remediation:
Unlike static assessments, our cyber risk ratings are continuously updated to reflect the evolving threat landscape. This real-time approach enables organizations to monitor and remediate unresolved issues promptly, reducing the risk of successful cyberattacks.
Third-Party Risk Management:
Understanding third-party risk is critical in today’s interconnected business ecosystem. With our cyber risk ratings, organizations can actively and independently manage their supply chain risk score, ensuring that their vendors maintain adequate cybersecurity measures.
Enhancing Cyber Insurance Cost Management:
Our risk scores help organizations lower their insurance premiums by demonstrating a proactive approach to cybersecurity. Insurers can rely on our comprehensive ratings to assess an organization’s cyber risk more accurately, leading to better premium pricing.
Facilitating M&A and Subsidiary Assessments:
During mergers and acquisitions, assessing the cybersecurity posture of the target organization is crucial. Our cyber risk ratings empower companies to actively monitor the risk scores of subsidiaries and run preventive reports to discover the cyber posture of potential acquisitions.
Utilizing Cyber Risk Ratings as a Competitive Advantage
In today’s competitive business landscape, organizations need to differentiate themselves in every aspect, including cybersecurity. By leveraging our cyber risk ratings, companies can showcase their commitment to robust cybersecurity practices, gaining a competitive edge in the market. Additionally, our ratings help organizations make informed decisions when choosing vendors, ensuring they partner with suppliers that uphold a high level of cyber maturity.
Traditional security assessments have played an essential role in cybersecurity, but their limitations in today’s rapidly evolving threat landscape demand a more comprehensive and proactive approach. Orpheus Cyber’s threat-intelligence enriched cyber risk ratings offer organizations a powerful tool to understand their security posture, predict future threats, and effectively manage cybersecurity risks. By adopting these ratings, businesses can bolster their cybersecurity defences, minimize the risk of successful cyberattacks, and gain a competitive advantage in their respective industries. To find out more about the Orpheus platform, click here
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