Zurich Insurance Company, which has its North American headquarters in Schaumburg, Illinois, recently enlisted the services of SecurityScorecard, a security-risk benchmarking evaluator, to monitor its third-party cyber security risks.
With SecurityScorecard's platform, the Swiss company will be able to conduct assessments of any existing or possible threats to the IT systems of Zurich, its partners and vendors.
"As one of the world's largest business insurance companies, Zurich has hundreds of third-party partners across dozens of countries, so it has long taken a proactive approach to averting any possible breach in its IT ecosystem, no matter how small," Aleksandr Yampolskiy, chief executive officer and co-founder of SecurityScorecard, said.
Troy Mattern, Zurich's deputy head of cyber security, said many firms were considered before SecurityScorecard was chosen.
"Rather than just providing a snapshot in time of potential security risks, the system is designed to work continuously, providing a previously unobtainable level of threat information that supports our decision making," he said.
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