The FAIR Institute has brought on Ostrich Cyber-Risk, a cyber risk management company, to its community as a FAIR Institute Sponsor. The strategic sponsorship includes a seat on the advisory board, collaboration on thought leadership materials and webinars, participation at FAIR Institute events, and premier sponsor of its annual FAIR conference (FAIRCON23).
The non-profit FAIR Institute is dedicated to advancing the discipline of measuring and managing cyber and operational risk. Its Factor Analysis of Information Risk (FAIR) model has emerged as the international standard for understanding, analyzing and quantifying information risk in financial terms, helping organizations apply the traditional financial analytics of business decision-making to cybersecurity investment. FAIR’s worldwide community focuses on innovation, education and sharing best practices to advance the FAIR model and the information risk management profession.
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The National Institute of Standards and Technology Cybersecurity Framework (NIST CSF), the COSO Enterprise Risk Management Framework, and the National Association of Corporate Directors (NACD) Cyber Risk Oversight Handbook all recommend the use of the FAIR model.
The Ostrich Cyber-Risk cyber risk management solution, Birdseye, offers security and risk teams the power of the full FAIR ontology, enabling analysts to measure the return on investment (ROI) across any number of risk-mitigating options and to analyze the risk reduction benefit of investments in cybersecurity solutions to address evolving threats like ransomware, DDoS, phishing, data breaches and more.
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“We’re excited to have Ostrich Cyber-Risk as a partner sponsor. We look forward to collaborating with the Ostrich Cyber-Risk team to advance the adoption of the FAIR model and help our members build quantitative risk management programs,” said Jack Jones, chairman of the FAIR Institute.
“Information security leaders are under increasing pressure to quantify their organization’s risk exposure and justify their cybersecurity spend. Our Birdseye Pro application, built on the FAIR model, enables CISOs and their teams to prioritize cybersecurity risks, assess which controls will provide the most efficient risk reduction, and allocate resources for maximum impact,” said Bret Laughlin, CEO and co-founder, Ostrich Cyber-Risk. “As a FAIR Institute Sponsor, we’re able to closely interact with FAIR practitioners to better understand where they struggle in their cyber-risk quantification journey, allowing us to further improve our technology—enabling them to effectively practice the FAIR methodology.”
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