The Fair Isaac Corp, more commonly known as FICO, is on the forefront of revolutionizing the assessment of cybersecurity threats. Known for its FICO credit score, a tool that allows for a universal method for measuring credit risk, the Fair Isaac Corp has recently acquired the cybersecurity startup QuadMetrics in hopes of developing a universal tool to measure cyber threats. QuadMetrics utilizes technology devolved at the University of Michigan. With funding from the Department of Homeland Security, QuadMetrics can analyze key data points from a company’s IT network in order to calculate the risk of a cyber threat.
FICO believes that the implementation of this cybersecurity score could be a great tool for insurance companies that provide cyber insurance. It will allow a quick and universal measurement of the likelihood that a company would be susceptible to a cyber-attack. This will be a great leap forward for the rapidly evolving cyber insurance world because there is no cookie cutter solution to analyze risk. This makes it difficult for providers to gage risks and set prices. Cyber threats are still new so it is important to keep in mind that a solution such as a FICO credit score will not become an end all be all. Companies that score high will not be immune to cyber-attacks.