Cybersecurity rating

Security ratings are an objective, data-driven, quantifiable measurement of an organization's overall cybersecurity performance. Security ratings provide businesses and government agencies with a third-party, independent view into the security behaviors and practices of their own organization as well as that of their business partners. Security ratings are a useful tool in evaluating cyber risk and facilitating collaborative, risk-based conversations.^[1]

According to Gartner, cybersecurity ratings will become as important as credit ratings when assessing the risk of existing and new business relationships. Gartner predicts that these services will be a prerequisite for business relationships^[2]

Security Rating Services

The adoption of security rating services platforms is on the rise. In fact, Forrester Consulting found that 87% of respondents find security ratings valuable (37%) or extremely valuable (50%).^[3] There are a number of companies that provide security ratings services.

Security Rating Services in 2020

The COVID-19 pandemic has created a completely different environment for cyber-risk. According to S&P Global Ratings, rating services may become an exception to these changes in the world of cyber-risk.^[4] Given the COVID-19 pandemic that occurred in 2020, many brick and mortar shops that have mainly been exclusively accessible through in-person contact, have been forced to provide their goods and services through a website. This shift causes a larger need for these services given the increase in possible clients that want to know the safety of their business domain.