About Rainyday

  • What is Rainyday all about?+-

    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.

    About Path
  • How is Rainyday different?+-

    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”.

    About Path
  • Who is behind Rainyday?+-

    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.

Policy and Coverages

  • How do I know my coverage amount?+-

    If you’re unsure how much coverage your business needs, use our recommendation engine. We recommend a coverage amount based on your size and type of business. You can later customize that amount to better suit your business.

    About Path
  • What if the recommended coverage is too high/low for my business?+-

    You can easily adjust the recommended coverage to suit your business’ needs.

  • What if I have an SLA agreement with my customers? +-

    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.

  • Can I cover multiple services under the same policy?+-

    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.

  • How much coverage can I buy?+-

    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.

  • How do you calculate my premium?+-

    We base our catastrophic modeling analysis on the most granular data available to ensure that the premium is calculated in the best way possible.

  • Am I only covered if the reason for downtime was due to a cyber event?+-

    Absolutely not. Almost all reasons for downtime are included in our policy, from human errors to hardware malfunction, downtime is downtime.

  • How does Parametrix affect my existing insurance?+-

    It doesn’t. We’re here to compliment your existing insurance coverage.

  • What if I start using a new service and want to add it to my coverage?+-

    You can increase your coverage at any time.

  • Can I buy Rainyday for my personal use?+-

    Our coverage is only available for businesses, but reach out to us and we’ll help you set it up for your business.

Downtime and Claims

  • What do I do once there’s downtime?+-

    Nothing! Our system will detect the downtime event and immediately notify you.

  • What can I use the payment money for?+-

    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.

  • How quickly do I get paid?+-

    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.

  • What if I experience downtime and don’t hear from you?+-

    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.

Other

  • If I have a complaint, what do I do?+-

    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 info@parametrix-ins.com or by calling us on 650 224 4904 or +972549107957

  • COVID-19+-

    Parametrix is here to help through Covid-19 and hasn’t been interrupted. For any concerns feel free to reach out.

  • What is Parametric Insurance?+-

    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.

  • What if I have a complaint?+-

    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 info@parametrix-ins.com, call us on 650-224-4904, or through our contact page.

  • Other+-

    We are always keeping our FAQ page up to date, but if we missed anything feel free to reach out, email us info@parametrix-ins.com, call us on 650-224-4904, or get in touch through our contact page.