Lloyd’s-backed cyber managing general agent Onda has introduced Onda X, a new product designed to support mid-market companies in the UK and France.
Onda X provides primary and excess coverage limits of up to £5 million for companies with annual revenues between £100 million and £1 billion. The product aims to simplify the cyber insurance placement process by removing the need for technical question sets and form filling, allowing brokers to obtain cover more efficiently.
As cyber threats continue to evolve, traditional underwriting methods that rely on application forms are increasingly seen as inefficient.
“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,” said Alex Jomaa (pictured), Onda’s chief underwriting officer.
“The technology we’ve developed removes this friction, allowing brokers to secure coverage more swiftly and with less hassle.”
Onda’s threat data indicates a rise in cybercrime activity. In 2024, there was an increase of more than 40% in new cybercrime groups, initiatives, collaborations and services, Onda said.
The number of companies publicly named by threat actors rose by 35% last year, compared with 2023. In the first two months of 2025, the number of victims published per month rose by 64% compared with a year earlier.
According to UK Government data, 43% of UK companies have cyber insurance, with 7% of policyholders holding standalone cyber policies that typically offer broader coverage.
Onda said its approach to cyber insurance is based on data-driven risk assessment. Its risk engine evaluates network security by integrating Navigator by Onda data, external attack surface analysis and real-time threat intelligence.
Navigator by Onda collects data from networks, endpoints and security systems to help companies identify vulnerabilities, the company said.
In October, Onda partnered with cybersecurity firm Panorays to help clients assess vulnerabilities in the systems they use.
