Today businesses rely on third-party technologies such as cloud computing, web applications, and other platforms. This is the fastest growing risk for businesses, and mitigating external service risk is crucial. Our mission is to protect businesses from the next generation of catastrophic events with simple and transparent insurance. We create innovative parametric (claim-process-free) insurance for SaaS, PaaS and IaaS downtime.
Our goal is to hedge downtime risk that is out of your control. Any tech-business lives and breaths uptime, and has to deliver high availability products to today’s demanding environment. Our downtime coverage is simple and broad, giving you the confidence you need to bounce back fast after a downtime event, securing your revenue stream.
Most existing coverages don’t cover external service downtime. and if they do they include high deductibles, and restrictive exclusions. We’ve created a complete insurance product to hedge your external downtime risk for your mission critical services. Our policies are based on an extensive analysis using the most granular data available in the market.
Claims and underwriting processes are extremely expensive, leaving a small portion of premium to cover losses, and making the coverage unaffordable except for long waiting periods above at least 8 hours.. We eliminate the claims process altogether, as well as automated underwriting processes, which is the way we create affordable policies. We use an insurance model called “Parametric Insurance”.
Our fast-growing team comes from diverse backgrounds that include insurance, cloud and cyber expertise, data science, as well as global enterprise risk management and capital modeling. Solving complex technological problems is in our DNA, and downtime is a problem we’ve all faced first-hand. Insurance has presented a solution to control the fastest growing risk for businesses today. We work together to build and design protection for modern, tech-oriented businesses.
If you’re unsure how much coverage your business needs, use our recommendation engine. We recommend a coverage amount based on your size, industry, and type of business. You can later customize that amount to better suit your business.About
You can easily adjust the recommended coverage to suit your business’ needs.
Part of downtime expenses is your commitment to your customers, and it is covered in our policy. As part of your coverage calculation, we take into consideration your SLA agreement with your customers.
Of course! During your quote questionnaire fill in the services you would like to be covered for and we will send you a quote for their combined coverage.
As much as you need. Fill out a request for a quote with the amount you need and we’ll get back to you within 24 hours.
We base our catastrophic modeling analysis on the most granular data available to ensure that the premium is calculated in the best way possible.
Absolutely not. Almost all reasons for downtime are included in our policy, from human errors to hardware malfunction, downtime is downtime.
It doesn’t. We’re here to compliment your existing insurance coverage.
You can increase your coverage at any time.
Our coverage is only available for businesses, but reach out to us and we’ll help you set it up for your business.
Nothing! Our system will detect the downtime event and immediately notify you.
Our policy is intended to help you recover as fast as possible. There are no restrictions on how to use the settlement from Parametrix. It could be used to cover immediate costs of operations, SLA liabilities or bounce back solutions that impact your business. The fast payments allow you to maintain true business continuity by having a financial tool to hedge your external risks.
We do our best to pay all claims as soon as the downtime event happens. We notify you of the event and usually pay within 24 hours and up to 1 week.
If you experience downtime, it might be because of internal reasons, or other external factors that don't have to do with your service provider. We’ve got you covered for any downtime event that is due to the service provider itself going down.
We do our best to provide high-quality service for all of our customers. If you do have a complaint, please contact us by emailing email@example.com or by calling us on 650 224 4904 or +972549107957
Parametrix is here to help through Covid-19 and hasn’t been interrupted. For any concerns feel free to reach out.
Parametric insurance has been around for over 20 years. It’s an insurance model used to offer protection against losses that are hard for insurance companies to insure. Parametric products ensure that claims are paid fast without the need for a traditional claims process. This eliminates claims costs and provides a transparent and reliable policy.
We are here to help. Always available and ready for questions and feedback. If there’s anything we haven’t answered so far, or if you have a complaint email us firstname.lastname@example.org, call us on 650-224-4904, or through our contact page.
We are always keeping our FAQ page up to date, but if we missed anything feel free to reach out, email us email@example.com, call us on 650-224-4904, or get in touch through our contact page.