Summary:Onda: Difference between revisions
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Created page with "{{#switch: {{{1|3}}} |1 = {{#if:{{{bullet|}}}|* }}UK/France/U.S. broker-facing cyber MGA platform, Lloyd's coverholder, mid-market focus up to $/£/€ 1B revenue, Navigator insurability platform |2 = {{#if:{{{bullet|}}}|* }}Onda is a multi-jurisdictional cyber MGA founded in 2022 operating as a Lloyd's coverholder across the UK, France, and the United States, distributing broker-facing cyber insurance for businesses with revenue up to $/£/€ 1 billion through its prop..." |
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|4 = {{#if:{{{bullet|}}}|* }}🛡️ '''Onda''' is a Lloyd's-backed cyber insurance [[Definition:Managing general agent (MGA) | MGA]] founded in 2022 by Palantir co-founder Joe Lonsdale and cybersecurity executive Paul Calatayud, operating through five legal entities across Luxembourg, the UK, France, and the United States. The company writes on third-party carrier paper — Canopius, Argenta, and Everest [[Definition:Lloyd's syndicate | syndicates]] in Europe, Crum & Forster [[Definition:Surplus lines | surplus lines]] in the US — and distributes exclusively through brokers using its proprietary Navigator platform to replace traditional proposal forms with automated risk assessments. Total group headcount is estimated at 35–50, and the company is a member of the UK Managing General Agents' Association.{{#if:{{{bullet|}}}||{{pb}}}}{{#if:{{{bullet|}}}||{{pb}}}}{{#if:{{{bullet|}}}|* }}💰 '''Funding and capacity.''' Onda has raised approximately $10 million from generalist venture investors including 8VC, K5 Global, Northstar.VC, AAF Management, and Bhansali Equities, with no insurance-specialist VCs among its backers — an atypical composition for cyber MGA fundraising. Its two named products, Onda+ (SME, up to £5 million any-one-claim limits) and Onda X (mid-market, up to £5 million aggregate limits), cover [[Definition:Business interruption insurance | business interruption]], ransomware, social engineering, bricking, and regulatory fines, complemented by zero-deductible breach response services and an exclusive two-year partnership with Panorays for external attack surface management. The Navigator platform integrates with AWS, Azure, SentinelOne, and CrowdStrike, combining internal telemetry, external scanning, and real-time threat intelligence, though Onda does not offer [[Definition:Managed detection and response (MDR) | MDR]] or SOC-as-a-service.{{#if:{{{bullet|}}}||{{pb}}}}{{#if:{{{bullet|}}}||{{pb}}}}{{#if:{{{bullet|}}}|* }}⚠️ '''Risk profile and outlook.''' The company is pre-profitability and early-stage, with CKRe Limited (its UK entity) reporting £2 million in turnover and a Pomanda financial health score of 1 out of 7 as of December 2023. Talent retention risk is elevated: co-founder Paul Calatayud departed after 15 months, the entire French operational leadership left in 2025 (with Managing Director Frédéric Gatte joining competitor Coalition France), and the $10 million in total funding is thin relative to peers such as Coalition ($755 million), At-Bay ($292 million), and Cowbell ($122 million). The October 2025 US launch with Crum & Forster capacity represents Onda's most ambitious expansion into the world's largest cyber insurance market, but open questions remain around French operations continuity, corporate structure transparency, and loss experience after two-plus years of [[Definition:Gross written premium (GWP) | writing business]].
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