NEW YORK, Nov. 29, 2018 — Panorays, a rapidly growing provider of automated third-party security management, today announced its partnership with Japanese insurance giant Sompo to provide the Panorays platform to businesses throughout Japan. Panorays will be cooperating with Sompo Risk Management and the Sompo cyber security business unit.
“We’re honored to be one of Sompo Risk Management’s first cybersecurity partners. There is enormous potential for third-party security in the Japanese market and our partnership with Sompo Risk Management signals a key milestone in our global reach, giving a huge range of organizations in Japan the ability to manage and automate their whole third-party risk evaluation process,” said Matan Or-El, CEO of Panorays.
Sompo is one of the largest insurance companies in Japan and serves 20 million customers. The digital division of the company recently launched the Israeli Digital Lab, run by Yinon Dolev, and operates alongside similar laboratories in Silicon Valley and Tokyo, working on building partnerships and identifying investment opportunities in innovative technology solutions.
“We are proud of this partnership and offering the Panorays platform to tens of thousands of businesses that are among our customers in Japan,” said Yoshi Miyazaki, who leads the cyber unit at Sompo Risk Management.
The Panorays platform combines a continuous hacker’s view of the evaluated supplier together with an overview of compliance to companies’ internal policies. This ensures that a supplier’s cyber posture is not just evaluated during vetting, but throughout the business relationship. Ratings can be viewed anytime and companies can choose to receive real-time alerts when both positive and negative security changes occur at a supplier. The platform is SaaS-based, taking the convenience factor a huge step further by skipping any time-consuming installation while providing the ability to scale from hundreds to thousands of vendors.
Panorays automates third-party security management. The platform enables companies to easily view, manage and engage on the security posture of their third parties, vendors, suppliers and business partners. With the Panorays platform, companies dramatically shorten their third-party security evaluation process and gain continuous visibility while ensuring compliance to regulations such as GDPR and NY DFS. Panorays is a SaaS-based platform, with no installation needed.
Panorays is currently being successfully implemented by client organizations in financial services, healthcare, automotive, technology and retail.
For more information, visit www.panorays.com.