Highmark Health Transforms Its Approach to Risk Analysis with RiskLens

September 29, 2021

In this extensive case study, Omar Khawaja, CISO for Highmark Health, takes you inside launch and operation of a successful quantitative risk management program at an $18 billion healthcare provider and insurer, leveraging the RiskLens platform and the FAIR™ standard.

You’ll learn how Omar:

--Introduced FAIR, with its risk concepts that technical and business teams both can understand, to build a strong, cohesive culture around risk management.

--Transitioned the organization from confusing, qualitative risk assessments to quantitative analysis.

--Re-evaluated dozens of risk assessments and found that the vast majority labeled “high risk” weren’t when RiskLens risk analysis in financial terms was applied.

--Ran analysis of existing controls for their effectiveness with some dramatic results, including a million-dollar control producing zero risk reduction.  

The case study documents a return on investment of $11 million, based on first-year annualized loss expectancy reduction.

“If I can empower every single individual in my organization to make the right optimal decisions in the best interests of our customers and our enterprise, I can sleep like a baby every single night,” Omar said, “FAIR and RiskLens are a means for the analysis that makes those decisions.”

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