Year in Review 2024: Cyber Risk Milestones with Safe Security

Navigating through innovation and strategic developments

by Sachin Jha

As we close another transformative year, the cybersecurity landscape has evolved more rapidly than ever. With escalating threats and complex risk environments, 2024 has been a milestone year for Safe Security. Let’s dive into the highlights from the year, featuring innovations that have redefined how we manage and mitigate cyber risks.

1. Launching SAFE One (Next Generation Cyber Risk Management Platform)
2. Strategic Focus on CISOs at the 2024 Gartner Summit
3. Launch of SAFE One – Cyber Third-Party Risk Management
4. Seamless Transition to SAFE One
5. SAFE X Launch and Customer Day at FAIRCON24
6. Introduction of SAFE’s Gen AI Risk Module and Risk Treatment Center
7. Forrester Risk Summit and AI Agents Introduction
8. Key Highlights on Product and Enhancements
9. Awards and Recognition
10. Top Strategic Partnerships

1. Launching SAFE One (Next Generation Cyber Risk Management Platform)

In 2024, SAFE Security took a significant leap forward by launching SAFE One, following the strategic acquisition of RiskLens in 2023. The launch event, held at the FAIR Institute Europe Summit on March 13, showcased SAFE One as a pioneering platform designed to quantify and manage cyber risks in real time. This integration was not only a testament to our commitment to enhancing cyber risk quantification but also set a new standard for real-time, data-driven risk management solutions that are essential for today’s digital businesses.

2. Strategic Focus on CISOs at the 2024 Gartner Summit

The Gartner summit in March 2024 centered around the evolving role of CISOs, emphasizing the necessity for them to adapt and scale their cybersecurity strategies to match the pace of business growth. The discussions highlighted the challenges CISOs face, such as fragmented security tools and inadequate risk quantification, and how SAFE One addresses these issues by providing a unified platform that supports both operational efficiency and strategic risk management.

3. Launch of SAFE One – Cyber Third-Party Risk Management

2024 also marked the launch of the SAFE One TPRM platform, a significant development that was unveiled at RSAC 2024. This platform is designed to streamline the management of third-party risks by integrating cutting-edge risk assessment tools and offering comprehensive visibility into the security postures of third-party vendors. The TPRM platform quickly drew attention for its ability to enhance enterprise security strategies and manage external risks more effectively.

For more details on how SAFE automates FAIR, visit Automating FAIR: Empowering CISOs to Control Cyber Risk.

The acceleration of TPRM capabilities was further highlighted at the Gartner Security & Risk Summit in June 2024, where the focus was on enhancing CISOs’ effectiveness in managing third-party risks. The discussions and takeaways from this summit underscored the growing importance of robust third-party risk management solutions in today’s interconnected digital landscape. 

For more insights from the summit, check out Key TPRM Takeaways from the Gartner Risk Summit 2024.

4. Seamless Transition to SAFE One

By second quarter, SAFE Security had successfully transitioned approximately 80% of former RiskLens customers to the SAFE One platform. This platform enhancement was particularly significant as it incorporated advanced FAIR quantification capabilities, automating complex risk analysis processes to help CISOs control cyber risks more efficiently. The integration of automated FAIR into SAFE One has been a game-changer, providing organizations with the tools to quantify cyber risk in financial terms and make data-driven security decisions. 

For more details on how SAFE automates FAIR, visit Automating FAIR: Empowering CISOs to Control Cyber Risk.

5. SAFE X Launch and Customer Day at FAIRCON24

In a significant stride towards enhancing cybersecurity management, SAFE Security launched SAFE X at FAIRCON24, a mobile assistant designed to empower CISOs by providing real-time insights into their organization’s risk posture. This tool marks a crucial step in the evolution of cyber risk management, making risk assessments more accessible and actionable directly from mobile devices. The launch was complemented by SAFE Security’s Customer Day, which provided a platform for in-depth discussions on the utility of SAFE X and its impact on everyday cybersecurity practices. 

For more about the event and product introduction, read Introducing SAFE X at FAIRCON24 and Highlights from SAFE Security’s Customer Day.

6. Introduction of SAFE’s Gen AI Risk Module and Risk Treatment Center

2024 also witnessed the introduction of SAFE’s Gen AI Risk Module, an innovative solution designed to handle the unique challenges posed by generative AI technologies. This module enhances decision-making by providing clear, quantifiable insights into AI-related risks. Alongside this, SAFE launched a new Risk Treatment Center, which revolutionizes how organizations approach, plan, and mitigate risks. This center focuses on streamlining risk treatment processes, making them more efficient and aligned with organizational risk appetites. 

Explore these advancements in detail at Gen AI Risk Module Introduced and New Risk Treatment Workflow.

7. Forrester Risk Summit and AI Agents Introduction

The year concluded with SAFE Security’s participation in the Forrester Risk Summit, where the company launched its AI agents. These AI agents are set to transform risk management practices by automating and enhancing the accuracy of risk assessments and response strategies. The summit provided valuable insights into the future of risk management and the evolving role of AI in shaping security landscapes. 

For more on the takeaways from this event, read Forrester Security Risk Summit: The Future of Risk.

8. Key Highlights on Product and Enhancements

The launch of SAFE One, SAFE One-TPRM and SAFE X marked a significant evolution in our product offerings, integrating real-time threat intelligence with robust risk assessment capabilities.

Decision areas for comprehensive cyber risk management with SAFE One

Use Case 1: Know, Understand, and Communicate Risk

Key Features: Cyber Risk Singularity, Risk Aggregation, Hack Scenarios, Threat Actors and Monitoring, Risk Archiving, Peer Insights, Automated way to Create Groups and Scenarios, Aggregated FAIR MAM at Group, Cyber Periodic Table, GenAI Risk Module, Notifications, etc.

Use Case 2: Operational Risk Prioritization and Treatment

Key Features: Prioritized Findings based on Risk (Findings scores), What-if Analysis (Aggregate level, Individual Risk Scenario level), Risk Treatment Plans for Findings, New Dashboard widgets for Findings Insights, etc.

Use Case 3: Strategic Risk Treatment and Investment Planning

Key Features: Prioritized Control recommendations based on risk, What-if Analysis (Aggregate level, Individual Risk Scenario level), Risk Treatment Center, Cost-Benefit Analysis, etc.

Use Case 4: Cyber Third-Party Risk Management

Key Features: Third-Party Risk Quantification, Evidence Management, Third-Party Breach Incidents, Support for industry standard questionnaires, Auto Onboarding of Fourth Parties, ServiceNow TPRM Integration, Out-of-the-box Dashboard for Third-party with additional Widgets, etc.

Discover how SAFE TPRM can transform your approach. Schedule a Demo to speak with our experts!

9. Awards and Recognition

SAFE Security’s approach and solutions have transformed cybersecurity practices, earning widespread industry acclaim in 2024.

• CRN Recognition: Featured as one of the CRN’s 20 Coolest Cybersecurity Products at the RSA Conference, highlighting its leadership and innovation.
• Gartner Hype Cycle: Recognized in the Gartner Hype Cycle for Cyber Risk Management, showcasing its role in shaping future cybersecurity trends.
• Financial Sector Impact: Acknowledged in blogs covering its influence in the fintech and global insurance technology sectors (Fintech Global Insurance Technology).
• Fortune Cyber 60: Included in Fortune’s Cyber 60 list, recognizing the top 60 companies leading the fight against cyber threats globally.

10. Top Strategic Partnerships

2024 also marked a year of significant partnerships for SAFE Security, aimed at broadening its capabilities and extending its market reach. 

Notable Technology Collaborations

• Tanium Partnership: This collaboration enhances endpoint security and visibility, enabling more robust cyber defense strategies (SAFE Security Tanium Partnership).
• AWS Alliance: Joining forces with AWS, SAFE has strengthened cloud security, providing clients with advanced tools to safeguard their cloud environments (SAFE Joins Forces with AWS).
• Tenable Integration: This partnership focuses on enhancing vulnerability management capabilities, ensuring comprehensive security assessments and improved risk mitigation (SAFE Tenable Partnership).
• CrowdStrike Collaboration: This alliance boosts threat intelligence and incident response by integrating CrowdStrike’s advanced endpoint protection with SAFE’s risk management platform, enhancing overall cybersecurity resilience (SAFE & CrowdStrike Join Forces).
• Databricks Alliance: SAFE’s collaboration with Databricks introduces a specialized AI Risk Module, leveraging the combined strengths of the FAIR and MITRE ATLAS frameworks alongside Databricks AI Security Framework (DASF). This powerful integration equips businesses with enhanced capabilities for managing AI-driven cyber risks more effectively.
• Armis Collaboration: This partnership enhances visibility into IoT and OT environments, integrating Armis’ asset intelligence with SAFE’s comprehensive risk management solutions.
• GitHub Alliance: By partnering with GitHub, SAFE has streamlined application security by incorporating source code vulnerabilities into its risk management framework.
• ServiceNow CMDB Integration: This integration enables seamless sync of asset data between ServiceNow CMDB and SAFE, enhancing asset visibility and risk assessment capabilities.
• Rubrik Partnership: Collaborating with Rubrik, SAFE strengthens data protection strategies, integrating secure backup solutions into its cyber risk management platform.
• Axonius Integration: Through this partnership, SAFE enhances asset management capabilities by leveraging Axonius’ asset aggregation and compliance enforcement features.
• Prisma Collaboration: This alliance bolsters cloud security by integrating Prisma’s comprehensive cloud visibility and security posture management tools into SAFE’s risk management offerings.

Strategic Alliances 

• Visa Collaboration: Earlier this year, Safe Security formed a pivotal partnership with Visa to enhance their security go-to-market strategy. This collaboration underscores Visa’s commitment to reinvention and delivering increased value to its clients, with Safe Security at the helm of advancing their cyber risk management capabilities.
• NCC Group Alliance: In a strategic move to bolster cyber risk quantification services, Safe Security partnered with NCC Group. This alliance empowers our customers with leading-edge solutions to accurately assess and manage the evolving landscape of cyber threats.
• Booz Allen Hamilton Integration: This year also marked the commencement of our transformative partnership with Booz Allen Hamilton, introducing Integrated Risk Management as a Service (IRMaaS). By merging Booz Allen’s extensive cybersecurity expertise with Safe Security’s AI-powered CRQM platform, this collaboration equips organizations to gain real-time insights, quantify cyber risks with precision, and strategically navigate the increasingly complex threat environment.

Industry Collaborations

The year also saw SAFE forming strategic alliances with major insurance providers such as Howden, Mosaic, Chubb, and Liberty, which are pivotal in fortifying the risk management frameworks across the insurance industry (Partnerships in Insurance Technology). These partnerships have not only expanded SAFE’s footprint in the cybersecurity insurance

Looking back at 2024, Safe Security has not only responded to the dynamic needs of the cybersecurity field but also anticipated future challenges. Our journey this year reflects our relentless pursuit of excellence and innovation in protecting global enterprises. As we step into another year, we remain committed to advancing our technologies and strategies to keep your digital environments secure.

Stay tuned as we push the boundaries of cybersecurity in 2025 with enhanced AI-driven solutions and strategic expansions in Cyber TPRM. Expect innovative breakthroughs that continue to empower CISOs and redefine risk management across industries.

Ready to transform your Cyber Risk Management journey? Schedule your 1:1 demo with a SAFE cyber risk expert today.