SecurityScorecard, Inc. (20240378535). REDUCING CYBERSECURITY RISK LEVEL OF A PORTFOLIO OF COMPANIES USING A CYBERSECURITY RISK MULTIPLIER simplified abstract
REDUCING CYBERSECURITY RISK LEVEL OF A PORTFOLIO OF COMPANIES USING A CYBERSECURITY RISK MULTIPLIER
Organization Name
Inventor(s)
Luis Vargas of New York NY (US)
A. Robert Sohval of New York NY (US)
REDUCING CYBERSECURITY RISK LEVEL OF A PORTFOLIO OF COMPANIES USING A CYBERSECURITY RISK MULTIPLIER - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240378535 titled 'REDUCING CYBERSECURITY RISK LEVEL OF A PORTFOLIO OF COMPANIES USING A CYBERSECURITY RISK MULTIPLIER
The abstract describes a patent application for a multiplier used to quantify cybersecurity risk levels in a portfolio of entities, such as companies, and facilitate actions to mitigate that risk. The innovation involves comparing features of companies in the portfolio to those that have experienced cybersecurity events, measuring the degree of dependency between portfolio companies and companies that have experienced events, and determining interdependencies between companies to better predict cybersecurity risks.
- The patent application introduces a multiplier to quantify cybersecurity risk levels in a portfolio of entities.
- It involves comparing features of companies in the portfolio to those that have experienced cybersecurity events.
- The innovation measures the degree of dependency between portfolio companies and companies that have experienced events.
- It also determines interdependencies between companies to better predict cybersecurity risks.
- The goal is to enable more meaningful analysis of cybersecurity events and improve risk prediction for portfolio companies.
Potential Applications: This technology can be applied in various industries where cybersecurity risks are a concern, such as finance, healthcare, and technology. It can be used by cybersecurity firms, risk management companies, and insurance providers to assess and mitigate risks for their clients.
Problems Solved: The technology addresses the challenge of accurately quantifying cybersecurity risks in a portfolio of entities. It helps in identifying potential vulnerabilities and taking proactive measures to prevent cybersecurity events.
Benefits: Enhanced risk assessment and mitigation strategies for companies in a portfolio. Improved prediction of cybersecurity events and better preparedness to handle them. Increased security posture and resilience against cyber threats.
Commercial Applications: Title: "Cybersecurity Risk Quantification Multiplier for Portfolio Entities" This technology can be commercially used by cybersecurity firms to offer risk assessment services to companies. It can also be integrated into risk management software for organizations to monitor and mitigate cybersecurity risks effectively.
Questions about Cybersecurity Risk Quantification Multiplier for Portfolio Entities:
1. How does the multiplier help in quantifying cybersecurity risks in a portfolio of entities? The multiplier compares features of companies in the portfolio to those that have experienced cybersecurity events, enabling a more accurate risk assessment.
2. What industries can benefit from using this technology? Various industries, such as finance, healthcare, and technology, can benefit from this technology to assess and mitigate cybersecurity risks effectively.
Original Abstract Submitted
a multiplier is utilized to quantify a cybersecurity risk level of a portfolio of entities (e.g., companies) and enable actions to mitigate that quantified risk. in doing so, features or attributes of one or more companies in a portfolio are compared to features or attributes of one or more companies that experienced an adverse cybersecurity event (e.g. a data breach). further, a degree of dependency, such as a matrix of a number of shared vendors and the proximity of those vendors to the companies, can be measured between (1) portfolio companies and one or more companies that experienced a cybersecurity event, and/or (2) the portfolio companies themselves to better quantify the risk. that is, to more meaningfully analyze a cybersecurity event that occurred at one or more companies and better predict the likelihood of an occurrence at portfolio companies, embodiments can determine an n-degree interdependency between companies.
