CyberArk (NASDAQ: CYBR), today announced that CyberArk Core Privileged Access Security has received a Cyber CatalystSM designation.
Created by Marsh, a global leader in insurance broking and risk management, the Cyber Catalyst program convenes leading cyber insurers to evaluate cybersecurity solutions and awards the Cyber Catalyst designation to those they believe can have a meaningful impact on cyber risk. The program’s rigorous evaluation process involved participating insurers assessing the ability of cybersecurity solutions to address prominent risks including ransomware, supply chain and vendor management, cloud migration and management, social engineering, and privacy regulation and data management.
With compromised privileged credentials continuing to be the root cause of the most damaging cyberattacks, a strong privileged access management program is more important than ever. Delivering the most comprehensive Privileged Access Management solution for cloud and hybrid environments, CyberArk helps to control, manage and audit privileged accounts, credentials and secrets for human and non-human users to reduce risk while also improving operational efficiency and compliance.
“The Cyber Catalyst designation signals that leading insurers believe the CyberArk Core Privileged Access Security solution can help reduce cyber risk, and strongly merits consideration by organizations who seek solutions that yield meaningful improvements in cyber risk outcomes. The 2020 class of Cyber Catalyst solutions target the five most significant cyber risks identified by cyber insurers and, together with the 2019 designees, comprise a roster of more than 30 cybersecurity products insurers believe can be highly effective against cyber threats,” said Thomas Reagan, Marsh Cyber Practice Leader, US & Canada.
In their evaluation, the insurers said of CyberArk:
“One of the best identity access management solutions, and timely given emerging regulatory concerns regarding visibility of data. Helps meet the requirement for improved control and oversight of access to data based on user role.”
“A comprehensive solution for privilege access management and simplifies the local admin access problem. Targets the key ways attacks happen and looks closely at unauthorized actions rather than standard indicators of compromise.”
“As high profile cyberattacks continue to make headlines, the compromise of privileged credentials plays a critical role, giving attackers the ability to access high value assets and cause significant business damage and disruption,” said Mike O’Malley, senior vice president of global marketing, CyberArk. “The Cyber Catalyst program designation validates the importance of privileged access management to an overall cybersecurity strategy. It’s this notion that remains at the heart of our mission — to help customers reduce privilege related risk, address compliance concerns and ultimately be able to confidently and securely move their businesses forward.”