The latest news from Onda for you;
Lloyds backed cyber MGA Onda has launched Onda X, a new product that supports mid-market companies in the UK and France.
Building on Onda’s success in the SME market, Onda X provides primary and excess coverage limits up to £5 million for companies with annual revenues greater than £100 million up to £1 billion. Onda X is built to simplify the cyber insurance placement journey, whilst removing the requirement for technical question sets and form filling. This unique proposition enables Broker’s to seamlessly obtain cover for clients.
Threat levels
Onda’s threat data has revealed that in 2024 there has been an increase of over 40% in new cyber crime groups, initiatives, collaborations and services.
Companies named publicly by threat actors increased by 35% in 2024 compared to 2023. Already in the first two months of 2025 we have seen a 64% increase in the number of victims published per month versus the average per month in 2024.
As reported by the UK Government, only 43% of companies in the UK have cyber insurance, with 7% of Policyholders having specialist, stand alone cyber policies that generally provide a broader degrees of coverage.
Technology support
At Onda, we believe that robust cybersecurity and cyber insurance start with reliable data. Designed to quickly assess network security at a high level, our risk engine focuses on the key factors that determine insurability by integrating three aspects:
· Navigator by Onda data
· External attack surface analysis, including supply chain analysis
· Real-time threat intelligence
Navigator by Onda consists of a continuous stream of information being collected from networks, endpoints, and security systems to help companies better understand their vulnerabilities, prevent potential attacks, and improve their cyber security strategies and insurability.
Navigator is an innovative tool that enables the gathering and sorting of security control data to verify correct implementation and enforcement across a company’s digital infrastructure. The data is aggregated to provide actionable insights on issues in the controls’ deployment and performances that increase the probability of a successful cyber-attack occurring, which could be translated into material risk.
Navigator by Onda’s capability will enable companies to demonstrate controls rather than relying on application form questions. Utilising the data from popular platforms such as AWS, Microsoft Azure & Defender, SentinelOne, and CrowdStrike, with dozens more integrations planned.
Supported by Onda’s proprietary technology, Onda’s exclusive partnership with cyber security firm Panorays* enables clients to assess vulnerabilities in the systems they’re using.
Onda’s cyber insurance products aim to complement companies’ cyber security strategies, supporting them to prevent cybercrime and provide robust support if it ever does.
Cyber insurance simplified
With cyber threats evolving at an unprecedented pace, traditional methods of underwriting cyber insurance, namely through application forms, is cumbersome and inefficient. Onda X continues the MGA’s highly commended, frictionless experience for brokers, whilst retaining a broad appetite.
In a fraction of the time it takes to complete a traditional application form, Onda’s seamless, non-intrusive approach enables brokers and underwriters to get a rapid, comprehensive view of a client’s insurability.
Chief Underwriting Officer, Alex Jomaa, said:
“Our aim is to make it easier for brokers to provide clients with access to insurance without getting bogged down with lengthy exchanges between underwriters, brokers and clients.
The technology we’ve developed removes this friction, allowing brokers to secure coverage more swiftly and with less hassle. We are very excited to present this simplifying product to the market. Onda continues its value-added service with its exclusive technology enabling clients to assess vulnerabilities in the systems they’re using.”
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