Willis Towers Watson partners with IBM to expand cybersecurity offering
Willis Towers Watson has teamed up with IBM to create an expanded cybersecurity offering. The advisory firm’s HR expertise and current cyber solutions will be strengthened by the cybersecurity services of the tech giant.
As businesses increasingly throw their large amounts of data – including personal customer information – into the cloud and interconnected digital networks, the risk of cyber breaches becomes greater, and the impact more devastating. The data breach of credit reporting agency Equifax, for example, has compromised the social security numbers, birth dates, and addresses of 145.5 million US consumers. One current class action lawsuit is seeking $70 billion in damages from Equifax as a result of the huge breach of personal data.
With the stakes so high, businesses are anxious for solutions that will help protect their digital networks and the sensitive information within. Consultancies and tech firms are rapidly expanding their capabilities to address client needs in the critical cybersecurity sphere.
Willis Towers Watson – a global consulting firm specializing in risk, broking, and HR consulting – announced that it has expanded its cybersecurity service offering in partnership with IBM Security. The firm will integrate IBM Security’s service suite – security testing, cyber resiliency services etc. – into its own cyber risk consulting offering. The partnership will create a stronger and more ‘holistic’ cyber risk solution.
Willis Towers Watson, whose HR consulting division is one of the world’s largest, offers human capital management expertise crucial to the building of strong cybersecurity networks. “With Willis Towers Watson's focus on employees, and given the role that insiders play in creating cyber risk, an effective cyber security strategy should encompass technology and solutions to address employee behavior and associated risks,” remarked Chris Esemplare, IBM General Manager & Vice President, Global Security Services. “The array of solutions provided by Willis Towers Watson are a perfect complement to IBM Security's comprehensive approach and solutions in the market.”
Echoing IBM’s comments on the partnership, Willis Towers Watson Global Head of Cyber Risk Anthony Dagostino said, “We believe that a successful cyber resiliency strategy must have a comprehensive approach that addresses people, capital and technology in equal measure.” Willis Towers Watson’s HR expertise and its current cyber risk solutions combined with those of IBM Security will form a strong, multi-faceted service offering for clients – while also positioning them to receive better coverage terms and rates from insurers.
Willis Towers Watson stresses that businesses should be proactive in their cyber security solutions. Looking at the example of Equifax, it is better to invest in security before a breach – finding problems, building plans, and optimizing processes to safeguard the business and its consumers before it’s too late. “Recent cyber-attacks are a constant reminder of why companies need a proactive strategy,” commented Dagostino. “We are excited to partner with IBM to better address the technological risks our clients face across the globe.”
Willis Towers Watson has over 40,000 employees across 140 countries. It is headquartered in London. The company was formed by the 2016 merger of insurance broker Willis Group with risk management and HR consultancy Towers Watson.
