Onda Secures Partnership with Panorays to Enhance Cyber Insurance Solutions
Cyber Insurance MGA, Onda, Forms Global Strategic Partnership with Leading Cybersecurity Firm Panorays
LONDON/NEW YORK, October 1, 2024 – Cyber MGA Onda has formed an exclusive, first-of-its-kind, two-year-partnership with Panorays, a risk rating platform leader in The Forrester Wave™ 2024 cybersecurity report, to integrate their market-leading cyber risk assessment tool into their platform. This deal will enable Onda to rapidly transform insurability against cyber threats.
This partnership will strengthen Onda’s risk assessments and continuous monitoring capabilities to ensure brokers and customers have access to risk data from one of the reliable sources in the market.
This new technological capability marks an important strategic step in enabling Onda to further streamline its underwriting processes and eliminates lengthy application forms. Onda’s customers will benefit from detailed and valuable insights into their external attack surface, as well as mapping the third parties in their supply chain.
With the growing complexity and sophistication of cyber threats posed by third parties, Panorays pioneering AI-driven platform is designed to empower organizations to take control of their supply chain and third-party relationships.
Alex Jomaa, Onda Chief Underwriting Officer, said:
“We are delighted to announce our partnership with Panorays. Onda’s cyber risk engine integrates internal network data, external attack surface data and threat intelligence. The tools offered by Panorays complement our existing technology and strengthen our cyber insurance products for a market-leading offer. Our goal is to simplify cyber insurance by using this technology to rapidly determine insurability, rather than attempting to perform deep assessments of a client’s defensibility.”
Demi Ben-Ari, Co-Founder & CTO of Panorays, said:
“We are thrilled to partner with Onda in advancing the cybersecurity landscape for the insurance industry.
Onda’s innovative approach to integrating internal network data, external attack surface insights, and threat intelligence into their underwriting processes aligns perfectly with Panorays’ mission to streamline third-party cyber risk management.
By combining our technologies, we are enhancing the cyber insurance process, enabling faster, more accurate evaluations of insurability, and ultimately delivering stronger, more secure offerings to the market.”
About Panorays:
Panorays is a global provider of third-party cybersecurity management software. Adopted by leading banking, insurance, financial services and healthcare organizations, Panorays enables businesses to optimize their defenses for each unique third-party relationship. With personalized and adaptive third-party cyber risk management, Panorays helps businesses stay ahead of emerging threats and delivers actionable remediations with strategic advantages. The company serves enterprise and mid-market customers primarily in North America, the UK and the EU, Headquartered in New York and Israel, with offices around the world, Panorays is funded by numerous international investors, including Aleph VC, Oak HC/FT, Greenfield Partners, BlueRed Partners (Singapore), StepStone Group, Moneta VC, Imperva Co-Founder Amichai Shulman and former CEO of Palo Alto Networks Lane Bess. Visit us at panorays.com.
About Onda:
Onda is on a mission to simplify cyber insurance for brokers in the UK and France, with a low-touch platform that allows for quick and easy onboarding, quotes, and documentation.
Our goal is to ease companies’ access to comprehensive insurance cover and provide them with continuous, understandable, and actionable insights about their cyber risk by leveraging our innovative technology and insurance expertise.
To learn more, visit onda.ai/uk or onda.ai/fr.
