Binary Defense and Aon Launch New Collaboration to Enhance Cyber Resilience and Risk Management
Binary Defense has announced a collaboration with Aon to become Aon's exclusive Managed Detection and Response (MDR) provider for small and medium-sized enterprises. Binary Defense's MDR solutions offer advanced threat detection, leveraging existing technologies, and a unique attacker-perspective strategy. Recognized by Gartner and Forrester for its capabilities, Binary Defense aims to provide comprehensive security services. Aon's Cyber Resilience Report highlights that many companies are vulnerable to cyber threats due to outdated software and lack of SOC controls. The collaboration seeks to enhance cyber resilience, enabling faster threat visibility, improved recovery times, and better data-driven insights. This partnership aims to reduce cyber risk and financial impacts on businesses.
- Collaboration with Aon enhances Binary Defense's market position as a trusted MDR provider.
- Binary Defense's MDR services recognized by Gartner and Forrester, boosting credibility.
- Aon's Cyber Resilience Report identifies critical vulnerabilities, emphasizing the need for robust cybersecurity measures.
- Partnership aims to provide faster threat visibility and improved recovery times, potentially reducing costly cyber-attacks.
- The collaboration leverages existing technology investments, offering cost-efficiency to clients.
- Binary Defense's attacker-perspective strategy provides cutting-edge early detection capabilities.
- Joint initiative with Aon could lead to enhanced cyber resilience and better risk management for clients.
- 47% of companies have not segregated end-of-life software, increasing vulnerability to cyber threats.
- 40% of companies lack necessary SOC controls, intensifying exposure to insider risk.
- Potential financial impact due to the need for implementation of robust cybersecurity measures.
- Complex and costly nature of managing cyber risks may strain smaller companies' resources.
Insights
Cybersecurity Analyst: This collaboration between Binary Defense and Aon is a significant move within the cybersecurity space, particularly for small and medium-sized enterprises (SMEs). Given the rise in cyber threats, SMEs often struggle with limited resources to deploy comprehensive cybersecurity measures. The partnership offers a blend of MDR from Binary Defense and incident response services from Aon, potentially providing a robust defense mechanism.
An interesting aspect is Binary Defense's approach of using the attacker's perspective. This proactive strategy can augment traditional defensive measures, providing earlier threat detection and mitigation efforts. This collaboration can further enhance the efficacy of their defenses by incorporating Aon's deep cybersecurity consulting experience and incident response capabilities. Such a holistic approach could lead to faster threat identification and improved recovery times, essential in minimizing financial impacts from cyber incidents.
For retail investors, this partnership indicates a solidified market position for Binary Defense in the SME sector and a strategic enhancement of Aon's cybersecurity offerings. Both companies could see growth from new clientele seeking these enhanced combined services, thereby potentially increasing revenue streams.
Financial Analyst: From a financial perspective, the collaboration between Binary Defense and Aon is likely to have a positive impact on both companies. Binary Defense's recognition in analyst reports like Gartner and Forrester adds credibility and could attract more SMEs to their services. For Aon, expanding its cybersecurity offerings to include MDR services can diversify its revenue streams and align with the increasing demand for comprehensive cyber risk management solutions.
Strategically, this collaboration could help Binary Defense leverage Aon's established clientele and market presence, potentially accelerating its market penetration. For Aon, integrating advanced MDR services can enhance its value proposition, making its cybersecurity solutions more comprehensive and appealing. These factors could lead to increased client acquisition and retention, ultimately benefiting the bottom lines of both companies in the long term.
Investors should note that while this collaboration is promising, its success will depend on effective implementation and the ability to scale these services efficiently to meet client demands. Monitoring the financial performance of both companies in subsequent quarters will be important to assess any tangible benefits from this partnership.
Market Research Analyst: The market for cybersecurity solutions, particularly MDR, is growing rapidly due to increasing cyber threats and regulatory pressures. By teaming up, Binary Defense and Aon are aligning themselves with this trend and enhancing their competitive edge. Their combined expertise can offer a compelling value proposition for SMEs, who often need more resources to manage advanced cybersecurity threats effectively.
This partnership could be particularly advantageous in markets where regulatory requirements are becoming more stringent, driving demand for comprehensive cybersecurity solutions. Binary Defense's tailored approach, leveraging existing client technology, can also appeal to cost-conscious SMEs looking to maximize their existing investments. For Aon, enhancing its cyber resilience capabilities with Binary Defense's MDR services can provide a more rounded service offering, making it a more attractive option for clients seeking end-to-end cybersecurity solutions.
Retail investors may find this partnership promising as it positions both companies well to capitalize on the increasing demand for cybersecurity services, potentially leading to market share gains and revenue growth.
Binary Defense's cutting-edge MDR solution provides several critical advantages, including leveraging existing technology and security investments, advanced detection strategy, vast threat intelligence library, robust counterintelligence, threat hunting operations, collective defense and highly tailored solutions based on customers' individual security needs. Its MDR services have been recognized in several analyst reports, including a five-time Representative Vendor in the Gartner Market Guide for Managed Detection and Response Services report and a "Strong Performer" in The Forrester Wave™: Managed Detection and Response, Q2 2023 report. Unlike most providers, which think like defenders, Binary Defense uses the attacker's perspective to guide its security strategy, providing customers with cutting-edge early detection capabilities.
Aon, offering the industry-leading Stroz Friedberg global Incident Response services and named a Leader in the Forrester Wave™ for Cybersecurity Incident Response Services, combines decades of cyber risk management insights with its deep cybersecurity consulting experience to enable data-driven decision making when collaborating with clients to better identify and holistically manage cyber risk. Aon’s 2023 Cyber Resilience Report shows that nearly half of all companies (47 percent) have not segregated their end-of-life software from application systems, potentially increasing their vulnerability to cyber threats. Further compounding this issue, 40 percent of companies lack necessary SOC controls, intensifying their exposure to insider risk. Aon recognizes the importance of implementing robust cybersecurity measures, including appropriate security monitoring capabilities, to create a holistic ecosystem to help support clients from risk identification to remediation.
“Clients continue to face a dynamically changing cyber threat landscape and managing cyber risks appropriately is becoming increasingly more complex and costly. As a result, organizations are endeavoring to deploy their cyber security budgets more efficiently across their business,” said David Yaches, Global Chief Executive Officer, Cyber Solutions Consulting, Aon. “This collaboration enables clients to take a more holistic approach to cyber risk management by combining managed detection and response with Aon’s incident response capabilities. Clients benefit from faster visibility into potential threats, improved time to recovery, and greater data-driven insights to effectively remediate vulnerabilities to reduce their risk of serious incidents and mitigate financial impacts to the business.”
“This joint collaboration empowers customers by delivering robust defenses against cyber threats. With our combined expertise, we are dramatically reducing the risk of costly and disruptive cyber-attacks and setting new standards for customers that will significantly improve their overall cybersecurity readiness and posture,” said Bob Meindl, Chief Executive Officer, Binary Defense. “This emphasizes our commitment to making the world a safer place by enabling clients to thrive through improved cyber defenses.”
The collaboration can significantly enhance customer security and improve cyber resilience by providing the visibility clients require to deliver on their monitoring outcomes through Binary Defense’s robust MDR offering which combines an advanced threat analyst team (24x7 SOC) with a unique Open Extended Detection and Response (XDR) strategy that monitors all leading security controls to deliver high-speed, high-fidelity threat detections. The combined effect with Aon’s Digital Forensics Incident Response, Investigations and Risk Transfer services, enables customers to better analyze and respond to threats before they become large-scale incidents, leverage their existing technology stacks and current investments to respond to incidents quickly and effectively, and reduce risk exposure by more closely identifying insurance coverage gaps during renewals.
For more information about Binary Defense’s cyber capabilities, please visit binarydefense.com.
For more information about Aon’s cyber resilience capabilities, please visit aon.com/cyber-resilience.
ABOUT BINARY DEFENSE
Binary Defense is a trusted leader in security operations, supporting companies of all sizes to proactively monitor, detect and respond to cyberattacks. The company offers a personalized Open XDR approach to Managed Detection and Response, advanced Threat Hunting, Digital Risk Protection, Phishing Response, and Incident Response services, helping customers mature their security program efficiently and effectively based on their unique risks and business needs.
With a world-class 24/7 SOC, deep domain expertise in cyber, and sophisticated technology, hundreds of companies across every industry have entrusted Binary Defense to protect their business. Binary Defense gives companies actionable insights within minutes not hours, the confidence in their program to be resilient to ever-changing threats, and the time back that matters most to their business. Binary Defense is also the Trusted Cybersecurity Partner of the Cleveland Browns and partners with PGA TOUR players. For more information, visit our website, check out our blog, or follow us on LinkedIn.
ABOUT AON
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues in over 120 countries and sovereignties provide our clients with the clarity and confidence to make better risk and people decisions that help protect and grow their businesses.
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Media Contacts
Binary Defense
Emily Cadwallader
Emily.cadwallader@binarydefense.com
1 800-246-2792
Aon
mediainquiries@aon.com
Toll-free (
International: +1 312 381 3024
Source: Binary Defense
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