Press Release

Willis Towers Watson Launches Cyber Tool to Identify Hidden Cyber Risks

Matt Palmer appointed to lead Willis Towers Watson’s cyber risk management solutions and oversee new tool

April 5, 2018

London/New York, 5th April, 2018 - Willis Towers Watson, a leading global advisory, broking and solutions company, launched today the latest version of its innovative Cyber Risk Profile Diagnostic (CRPD) tool. The tool allows organizations to identify and analyze areas of cyber risk exposure and vulnerability by measuring their current cyber maturity against either the U.S. National Institute of Standards and Technology’s Cybersecurity Framework (NIST CSF) or Standard 27001 of the International Organization for Standardization (ISO). The CRPD tool represents an integral part of Willis Towers Watson’s tailored, innovative and integrated approach to effectively manage cyber risk that emphasizes people, capital and technology protections to ensure cyber resiliency across a whole organization.

Overseeing the CRPD tool and its development will be Matt Palmer, newly appointed as Senior Director for Willis Towers Watson’s cyber risk management solutions business. Matt was previously Chief Information Security Officer for the organisation.

Anthony Dagostino, Global Head of Cyber Risk for Willis Towers Watson, said: “Matt’s excellent track record as CISO and deep knowledge of cyber risk, technology and regulation will be invaluable in supporting our global clients with their own information security programs and leading our innovative new CRDP tool.”

According to Willis Towers Watson’s 2017 Cyber Risk survey, 59 percent of employers lack a clear strategy to address cyber to some extent. The CRPD Tool helps create this strategy by leveraging cybersecurity frameworks and international standards and providing:

  • Board-level understanding of an organization’s cyber security posture, assessing potential operational, regulatory and reputational impacts from relevant cyber scenarios
  • A user-friendly online data collection platform that enables delegation of key cyber risk management questions to key stakeholders
  • Detailed insights into an organization’s cybersecurity strengths and weaknesses
  • Tailored recommendations for cybersecurity improvement, prioritizing them by greatest security impact
  • Support for communication between the board, c-suite and other stakeholders
  • A platform to evaluate third-party risk

“CRPD provides a standardized baseline for cybersecurity that offers a customized, enterprise-level perspective into the cyber-related threats that exist in and around a business. This baseline provides clarity into how those threats can affect an organization’s ability to conduct its day-to-day operations and protect the bottom line,” said Dagostino.

CRPD output integrates with Willis Towers Watson’s proprietary analytics tool, Cyber Quantified, providing an accurate input of security posture and improving the assessment of an organization’s cyber loss potential, as well as decision support to optimize any cyber risk transfer strategy. The analysis helps facilitate prioritization of cybersecurity investments to ensure they have the greatest impact on risk mitigation.

“The benefits of deploying the CRPD tool are numerous and go beyond the structured approach to risk evaluation and control planning” said Palmer. “Ensuring that resources are allocated efficiently for any risk mitigation activities allows companies to improve stakeholder confidence while minimizing the brand and reputational impact in the occurrence of a breach, and also help companies to solve the complex issues around cyber resiliency”.

Learn more about CRPD here.

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has over 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.