CyberGRX launched the first in a series of predictive risk intelligence capabilities, the Predictive Risk Profile.
By leveraging standardized data within the Exchange platform and applying advanced machine learning and data analytics, CyberGRX can now anticipate how individual third parties within a company’s vendor ecosystem will respond to a detailed security assessment questionnaire with an accuracy rate nearing 85%. CyberGRX customers can use Predictive Risk Profiles to understand how individual vendors impact their cyber risk as well as to understand how they are viewed as a third party by their own customers.
“Third-party cyber risk management has been a tough nut to crack for many companies. This is largely because of the market misconception that having third parties complete risk assessments equals improved risk management. However, as recent events have shown, this is rarely the case,” said Fred Kneip, CEO at CyberGRX. “Since our inception, CyberGRX has been focused on creating a modern approach to third-party cyber risk management and proving to the industry that assessments are only a piece of the puzzle to help solve a larger problem. Predictive…
