ReliaQuest and Aon Collaborate to Empower Organizations to Proactively Manage Cyber Risk
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The partnership between ReliaQuest and Aon addresses a pressing need in the cybersecurity industry for comprehensive and integrated risk management solutions. From a technical standpoint, the integration of Aon's cyber resilience expertise with ReliaQuest's GreyMatter platform is poised to enhance the detection and response capabilities of businesses. This collaboration signifies the importance of a multi-faceted approach to cyber risk, combining both strategic consulting and operational technology.
For businesses, the ability to quantify cyber risks and manage them effectively is paramount. The use of 'indicators of compromise' from Aon's incident response team suggests a proactive stance on threat intelligence. This could lead to more dynamic and adaptive security postures for clients, potentially reducing both the frequency and severity of cyber incidents. However, the effectiveness of this collaboration will largely depend on the seamless integration of the services and the actual performance improvements seen in client organizations.
From a risk management perspective, this alliance offers a strategic advantage to clients by potentially lowering their cyber risk profile. Aon's 2023 Cyber Resilience Report highlights a significant gap in system and organizational controls across companies. By addressing this gap, the collaboration could lead to improved insurance outcomes for clients, as insurers often look favorably upon companies that take proactive steps to manage and mitigate cyber risk.
It is important for stakeholders to monitor the long-term impact of this collaboration on insurance premiums and coverage terms. While the immediate benefits include enhanced security operations and potentially reduced incident response times, the true measure of success will be a demonstrable reduction in the cost of risk over time, including lower insurance costs and less financial loss from cyber incidents.
In terms of financial implications, this partnership could influence the competitive landscape of the cyber insurance market. By offering a differentiated product that integrates cutting-edge technology with deep risk management expertise, Aon and ReliaQuest may attract a larger market share. This could result in revenue growth for both entities, provided that the service delivers on its promises and is adopted by the market.
Investors should observe the adoption rates of the integrated services, client satisfaction levels and the impact on the financial performance of both firms. If the collaboration leads to a significant reduction in cyber incidents for clients, it could also serve as a model for future partnerships in the industry, potentially affecting the stock prices of companies involved in cybersecurity and insurance.
As the cyber insurance market continues to evolve, this new collaboration represents a unique approach to helping companies assess and mitigate cyber risk
Aon combines decades of cyber risk management insights with its deep cybersecurity consulting experience. This enables data-driven decision making when collaborating with clients to identify and holistically manage cyber risk. Aon’s 2023 Cyber Resilience Report revealed 40 percent of companies lack necessary system and organizational controls. Aon recognizes that appropriate security monitoring capabilities play a key role in a robust cyber risk management approach. This collaboration is part of Aon’s ecosystem that helps clients to assess, mitigate and transfer cyber risk, and to recover should a cyber incident occur.
The collaboration between Aon and ReliaQuest provides customers with end-to-end security outcomes through ReliaQuest’s GreyMatter security operations platform, leveraging their existing investments across security technologies, regardless of where their data sits. ReliaQuest customers will also benefit from the integration of ‘indicators of compromise’ from Aon’s industry-leading global incident response team, delivering Stroz Friedberg Incident Response services, enabling immediate detection into the most critical emerging threats.
ReliaQuest Founder and CEO Brian Murphy said: “Combining Aon’s cyber risk expertise with the power of ReliaQuest’s security operations platform, GreyMatter, helps customers leverage automations they can trust while increasing visibility and reducing complexity. This allows them to actively manage risk anytime of the day, anywhere in the world.”
“Cyber security threats constantly evolve and so must our defenses. We remain committed to helping our clients address new forms of volatility,” said Christian Hoffman, Global Cyber Leader at Aon. “A strong security operations platform is critical to the overall cyber posture of an organization. This collaboration with ReliaQuest enables clients to achieve the visibility required to monitor their security environments effectively. Increased visibility helps clients to make better informed security decisions, that can improve their security risk profile and insurance outcome. The offering also complements other mitigation and risk transfer solutions we provide to our clients.”
For more information about ReliaQuest and its GreyMatter security operations platform, visit www.reliaquest.com. For more information about Aon’s cyber resilience capabilities, visit https://www.aon.com/en/capabilities/cyber-resilience.
About ReliaQuest
ReliaQuest is the force multiplier of security operations. Our security operations platform, GreyMatter, automates detection, investigation and response across cloud, endpoint, and on-premises tools and applications. GreyMatter is cloud native, built on an open XDR architecture and delivered as a service any time of the day, anywhere in the world. With over 800 customers worldwide and 1,200+ teammates working across six global operating centers, ReliaQuest is driving outcomes for the most trusted enterprise brands in the world. We exist to make security possible. For more information visit www.reliaquest.com.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries and sovereignties with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business. Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s Newsroom and sign up for news alerts here.
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ReliaQuest
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Aon
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