Unisys Corporation (NYSE: UIS) today launched Unisys TrustCheck, a new service that draws on the strength of an analytics model used in the cyber insurance industry to quickly and easily assess the potential financial impact of cyber risks.
The company launched the service at the Black Hat USA 2018 conference being held in Las Vegas.
Unlike other risk assessment offerings, TrustCheck is delivered as a managed service on an annual subscription basis, giving security professionals constantly updated information on their organisations’ cybersecurity posture and recommended steps for remediation.
TrustCheck is powered by X-Analytics®, a patented cyber risk analytics model developed by Secure Systems Innovation Corp. X-Analytics has been used by cyber insurance companies to underwrite billions of dollars’ worth of cyber risk insurance, translating cybersecurity metrics into business metrics.
TrustCheck reduces uncertainty and assumptions in cyber risk management. It enables organisations to:
• Assess cybersecurity and cyber risk posture in economic terms;
• Augment traditional gap assessment data with analysis of threats and controls from the client's existing security products;
• Determine the likelihood of a cyber-related financial loss;
• Easily communicate risk-reduction initiatives to the board;
• Analyse the return on investment of cybersecurity investments;
• Prioritise risk mitigation activities; and
• Identify risk transfer zones for all cyber perils.
“With the rapid pace of digital transformation, cybersecurity has become a top concern of government and business executives, their leadership and their boards of directors,” said Duncan Brown, associate vice president, European infrastructure and security, IDC. “However, technology professionals on the front lines of cybersecurity have not always had the tools they need to communicate cyber risks to their leadership in economic and business terms. Traditional heat maps and subjective metrics fail to provide the insight that leaders need to understand the probability and associated financial impact of a cybersecurity event, making it impossible for them to make fully-informed decisions.”
“With TrustCheck, Unisys is fundamentally transforming the cyber risk conversation, enabling organisations to align security initiatives with business strategies,” said Jonathan Goldberger, vice president of Security Solutions, Unisys. “TrustCheck translates cybersecurity data into financial metrics, such as expected loss or return on investment, and empowers security professionals to make better risk management decisions based on business priorities.”
Through the TrustCheck service, clients have ongoing access to risk dashboards to review their cybersecurity stance. Additionally, Unisys reviews the dashboards with clients on a monthly basis to discuss how to adapt to new threats and shifting priorities. Clients can log into tailored dashboards on an ongoing basis to review information on their organisations’ cybersecurity stance and how well they are positioned to respond to new threats and shifting priorities.