Parametrix Insurance
Parametrix Insurance specializes in providing cloud outage insurance, covering major providers like AWS, Azure, and GCP, and offers rapid, fixed-amount claims payments for a variety of losses due to cloud outages.
Services
Parametrix Insurance provides comprehensive insurance coverage for cloud outages, including AWS, Azure, and GCP. Their policies can be standalone or serve as add-ons to existing cyber or business interruption coverages. They offer rapid claim payments without a cumbersome claims process, ensuring timely financial support after a covered outage event.
Insurance Policies
Parametrix Insurance designs policies to be simple and transparent. Coverage includes lost revenues, third-party liabilities, and depleted productivity from cloud outages. Policies cover a wide array of causes such as human errors and natural disasters. Coverage can be customized to include CDNs like Cloudflare and Akamai and is suitable for companies with mission-critical cloud dependencies and SLAs.
Financial Backing
Parametrix Insurance policies are backed by financial strength from trusted insurance and reinsurance companies, including syndicates at Lloyd's. Operating as a Lloyd’s Coverholder, Parametrix issues policies on Lloyd’s paper, providing confidence and security to policyholders.
Claims and Premiums
Parametrix Insurance offers rapid claim payments, typically within 15 business days from loss confirmation. Premiums are calculated through parametric modeling analysis considering factors like cloud infrastructure and historical outage data. This approach ensures precise premium assessments aligned with each client's risk profile.