SOMPO : New Entry into the Cyber Security Business - Newly established Sompo Digital Lab in Israel-(PDF/278KB)

November 29, 2017 Sompo Holdings, Inc.

Sompo Holdings, Inc. (President & CEO: Kengo Sakurada, hereinafter "Sompo Holdings") announces new entry into the cyber security business starting from January 2018 in order to realize the Group's management philosophy of "contributing to the security, health, and wellbeing of our customers and society as a whole by providing insurance and related services of the highest quality possible".

Accordingly, Sompo Holdings has launched the Cyber Security Headquarters in Sompo Risk Management & Health Care Inc. (President & CEO: Yasushi Fuse, hereinafter "Sompo Risk Care"), the risk management company of Sompo Holdings Group, and has established Sompo Digital Lab newly in Israel to strengthen the functions.

1. Background and Objectives

   Nowadays, cyber risks are positioned as significant risks in corporate management, due to the change in social and technological environment, including autonomous vehicle technology and the spread of IoT, and the escalation of cyber-attacks that are becoming more advanced and sophisticated.

   However, there are many instances that sufficient security measures are not taken because businesses do not understand their own cyber risks precisely and sufficiently. Therefore, to adapt adequate security measures becomes an urgent issue.

   Based on such background, Sompo Holdings decided to enter the new business in order to offer solutions customized with a full lineup of services to cyber security-related issues faced by businesses by utilizing what have been recognized and identified through insurance underwriting - the first among insurance companies.

2. Business model

   Sompo Holdings intends to build the "One-Stop Platform"* that offers one-stop services described in (1)-(7) below to support cyber security in an integrated manner, through collaboration with cyber security companies offering advanced services.

   Furthermore, in order to continuously support customers with state-of-the-art technologies against cyber-attacks that are continuously advancing, Sompo Holdings has newly established the Sompo Digital Lab in Israel in November 2017, following Tokyo and Silicon Valley in the U.S as a base for collecting information and seeking new partners.

   * This refers to a platform that offers solutions customized with a full lineup of solutions based on the actual conditions of your cyber risks (from risk diagnosis to insurance payment). Sompo Holdings creates and suggests optimum customized cyber security measures) through this platform.

3. Partner profile

   1	Company name	COCON Inc. (President and Representative Director: Yuya Kuratomi)
   	Location	12-1, honcho 3-chome, Shibuya-ku, Tokyo
   	Established	February 22, 2013
   	Overview	It provides consulting services related to cyber security. It possesses the world's top-class capability of advanced vulnerability diagnosis and evaluation for new technologies and products.
   2	Company name	LAC Co., Ltd. (President and Representative Director: Itsuro Nishimoto)
   	Location	Hirakawacho Mori Tower, 16-1, Hirakawacho 2-chome, Chiyoda-ku, Tokyo
   	Established	October 1, 2007
   	Overview	It, being the first company to offer security monitoring services, security diagnosis and security emergency response services in Japan, is the country's cyber security pioneer. As an initiative to nurture security specialists, it provides training through the LAC Security Academy.
   3	Company name	Asgent, Inc. (President and Representative Director: Takahiro Sugimoto)
   	Location	6-4, Akashicho, Chuo-ku, Tokyo
   	Established	November 10, 1997
   	Overview	It distributes overseas products related to IoT and connected car technology, as well as products utilizing AI technology. It provides security service by combining the products and knowhow in the security field.

   As described earlier, Sompo Holdings is scheduled to offer services through business alliances with the following companies:

4. New establishment of the Cyber Security Headquarters

   In December 2017, Sompo Holdings is scheduled to newly establish the Cyber Security Headquarters in Sompo Risk Care, and deploy dedicated consultants specialized in cyber security and other staff.

5. Future plan

Sompo Holdings will start by expanding its business mainly in the Greater Tokyo Area, and consider expanding nationwide and establishing a new company specialized in the cyber security business based on performance and market trends, and other factors. Going forward, it will continue expanding alliances with domestic and overseas businesses including that have advanced technologies and know-how, in order to offer optimum services for its clients.