The new business supports the Japanese firm’s efforts to tackle cyber risk

Sompo Holdings intends to enter the cyber security business with its newly established Sompo Digital Lab in Isreal, according to an announcement today.

According to Sompo: “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.”

The lab will go live in January 2018. The Lab will strengthen the functions of the firm’s Sompo Risk Management & Health Care division.

The firm added: “Sompo Holdings decided to enter the new business in order to offer solutions – customised with a full line-up of services – to cyber security-related issues faced by businesses, by utilizing what have been recognized and identified through insurance underwriting”

The firm added that the Lab was the ’first of its kind in the industry’.