Onda Secures Partnership with Panorays to Enhance Cyber Insurance Solutions

Cyber Insurance MGA, Onda, Forms Global Strategic Partnership with Leading Cybersecurity Firm Panorays

LONDON, UK. October 1st, 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.”

“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.”

ENDS