Professionalization of a leading European insurer’s security operations center through strategic market scouting

The challenge

A major European insurance and asset management organization focused on creating long-term value for its customers sought to professionalize its cybersecurity operations through enhancements to its existing Security Operations Center (SOC). The current SOC covered key activities such as monitoring, incident response, reporting, and prevention. However, the organization aimed to strengthen its SOC’s capabilities to better meet increasingly stringent regulatory standards, foster collaboration, and efficiently manage systemic incidents, while ensuring seamless integration with internal systems. The client engaged Eraneos to explore multiple sourcing scenarios—ranging from maintaining the current setup to outsourcing 24/7 support or bringing all SOC monitoring capabilities fully in-house.

The approach

Eraneos adopted a phased methodology to analyze options for the client’s SOC strategy. The process began with identifying requirements through stakeholder interviews and existing service agreements. Next, a market scan identified over 50 potential SOC/MDR providers. Following a two-round questionnaire and detailed analysis, the list was narrowed to three shortlisted providers. Eraneos facilitated in-depth discussions between the client and these finalists, evaluating their offerings against the organization’s requirements (including 24/7 support, custom detection capabilities, and seamless tool integration). This analysis provided a robust comparison of providers and strategic options for the evolution of SOC services.

The results

The market exploration enabled the organization to gain a comprehensive overview of viable SOC/MDR providers in the EU and their respective capabilities. Key insights from the process highlighted that one provider fully aligned with the company’s requirements, offering scalable 24/7 support and seamless integration with internal systems. This initiative laid the groundwork for informed decision-making and clarified how other providers could support the organization’s strategic goals. By facilitating this professionalization, Eraneos empowered the client to enhance cybersecurity resilience, improve compliance, and remain prepared for future challenges within an evolving regulatory landscape.

About the client

The client is a prominent European insurer and asset manager, providing insurance and pension solutions to private and institutional customers. Renowned for its customer-centric approach and commitment to long-term value creation, the organization operates across several key European markets, with a strong emphasis on innovation, regulatory compliance, and operational excellence to meet evolving industry standards.