Barbican teams up with FICO to offer cyber vulnerability assessment tool
18 January 2018
London, 18 January 2018 – Barbican Insurance Group today announced that it has teamed up with global analytics software company FICO to offer clients access to a pioneering cyber threat monitoring and vulnerability assessment solution.
With immediate effect, Barbican is providing all its cyber insurance clients with a free subscription to the FICO® Enterprise Security Score Portrait (FICO ESS Portrait) product. The system enables users to obtain an instant evaluation of their current cyber-security measures, and produces an easy to interpret ‘cyber rating’ reflecting the likelihood of their organisation suffering a material data breach or cyber-attack.
FICO ESS Portrait combines predictive analytics and a deep database of historical cyber information to identify emerging risks and trends. The system delivers real-time monitoring of cyber security, providing actionable information to help insureds proactively strengthen their overall cyber defences and mitigate against potential threats.
Graeme King, business group leader for cyber at Barbican, said: “By offering our cyber policyholders free access to FICO ESS Portrait, we are providing them with a powerful cyber risk management tool. It delivers round-the-clock monitoring, exposing potential vulnerabilities and enabling organisations to continuously improve their security against evolving cyber threats. This is a key step in the evolution of our cyber insurance offering, taking it beyond risk transfer and using it as a mechanism to help clients bolster their defences and strengthen overall cyber resilience.”
Doug Clare, vice president for cybersecurity solutions at FICO, added: “At FICO, we have a history of delivering powerful risk metrics to the insurance and consumer credit industry. By working with Barbican and providing access to our FICO ESS Portrait product, we can promote cyber monitoring and vulnerability assessment as business-as-usual activities for all of their cyber clients. The fully scalable, cloud-based system requires no integration work, and makes the process of evaluating and enhancing cyber protection measures as straightforward as possible.”