In the ever-shifting world of cybersecurity, security teams grapple with an overwhelming task—tackling an estimated 2,900 new vulnerabilities each month in 2024. This demands a game-changing solution, as traditional patching methods stumble in the face of the sheer volume of vulnerabilities, leaving teams struggling to identify and tackle the most critical issues swiftly.

Meet Coalition, the cyber insurance firm armed with its squad of security lab researchers, boldly stepping up to confront this challenge. They recognize that a refined patching cycle not only shields clients but also slashes claims and ramps up profitability. The urgency lies in the escalation of the vulnerability problem, necessitating a strategic intervention to avert an impending surge in security breaches.

The Unveiling Challenge

Coalition’s researchers, on a mission to quantify the menace posed by the ever-increasing number of vulnerabilities, forged a forecasting model. Enter the autoregressive integrated moving average (ARIMA) model, a powerhouse for time series data. The outcome? A forecast of a jaw-dropping 34,888 new vulnerabilities in 2024—averaging 2,900 per month, marking a 25% surge from the first ten months of 2023.

This flood of vulnerabilities eclipses the capacity of security teams to efficiently triage without a helping hand, underscoring the need for a more streamlined and intelligent approach. Coalition’s internal claims data echoes the gravity of this challenge, revealing that policyholders with a single unpatched critical vulnerability are 33% more prone to claims.

Navigating the Complex Landscape

In the current scenario, security teams juggle a multitude of information—from media reports to CVSS scores tied to Common Vulnerabilities and Exposures (CVE) numbers. However, these sources often sow more confusion than clarity. 

Media reports tend to sensationalize threats, sowing unnecessary panic, while the reliability of CVE numbers and their associated database may not always stand the test.

Consider the Exim vulnerabilities of October 2023. Despite a ZDI-published CVE number and a formidable CVSS score of 9.8, the CVE database offered only a cryptic ‘Reserved’ status, leaving security teams in limbo. 

Media reports, amplifying the severity, only added to the chaos. Coalition, diving into the details, uncovered that the vulnerability zeroed in on specific Exim configurations, impacting only a fraction of its customer base. This underscores the inefficiency of relying solely on external information without a nuanced understanding of individual IT landscapes.

Conclusion

As the cybersecurity landscape continues its dynamic evolution, the call for a sophisticated and efficient approach to vulnerability management becomes resoundingly clear. 

Coalition’s commitment to harnessing AI and innovative strategies signals a significant leap towards a future where security teams navigate the complexities of patching with precision, slashing risks, and fortifying overall cyber resilience.