Most organizations still lack the ability to effectively measure the financial impact of cyberattacks. A recent Marsh global survey underscored this trend, finding that nearly three-quarters of organizations do not measure enterprise cyber risk in financial terms.
Cyber risk quantification enables organizations to conceptualize cyber risk in the same way as other enterprise risks. In addition to providing organizations with a common language that they can use to express risk, cyber risk quantification also helps bridge cyber risk strategy and enterprise strategy.
In this video, Marsh shares insights from its client base on quantification, and distills them into the top three questions enterprises should consider when aligning cyber risk objectives with corporate strategy.
- Data-driven strategy: Using financial metrics can help organizations develop a new or different risk strategy to combat rising insurance costs.
- Organizational changes: Considering how cyber risk exposures will change given shifts in enterprise strategy allows organizations to look ahead and plan more effectively.
- Other lines of coverage: Understanding how other lines of insurance coverage impact cyber coverage enables organizations to drive more value across all lines of coverage.