Downtime Insurance for Cloud Services
Your customers expect your products and services to be up and running at all times, but you have no control over what happens when your cloud service provider goes down. This is where Parametrix comes in with our transparent, simple, and trusted policies for businesses that rely on the cloud for their mission-critical activities and need to quickly get back to business after an outage!
What Happens When Your Cloud Service Goes Down?
What you do have control over is the outage-related financial risk which can be quite significant. A single hour of downtime can cost SMEs tens of thousands of dollars, while for larger companies the losses can add up to far more than that.
Do you really want to risk the financial exposure created by your cloud provider’s downtime events? While they may compensate you with credits, you still need to cover an array of financial losses including:
Lost Revenues
Cloud downtime can strain your company’s financial reserves due to unexpected monetary exposures which increase the volatility of your cash flows.
Lost End-user Productivity
When applications stop working productivity can grind to a halt for both internal and external users who are unable to access the services they need.
Customer Compensation
Meeting all the financial obligations based on your customers’ SLAs (service level agreements) can have a tremendous impact on your bottom line.
Lost or Damaged Data
Downtime can prevent critical data from being recorded and stored, requiring time-consuming work as people have to re-enter or reconfigure it later.
Lost Employee Productivity
Your IT and service teams need to shift from their normal working activities to figuring out how to support customers & bring the business back online.
Reputational Damage
Your customer service, marketing and sales teams need to handle the negative feedback and update customers, some of whom may never come back.
Our Policies Provide Certainty From Day One
What payment you will receive
Specify the coverage amount according to your business needs so you know exactly how much compensation you will receive
What damages are covered
Our policies cover every type of loss that results from 3rd-party outages including revenues, liabilities, productivity and more
What services/regions are included
Tailor the policy to your cloud infrastructure so that you receive a payout when your specific service/s and region/s are impacted
When the coverage kicks in
By specifying your preferred waiting period you can determine exactly how much downtime risk you want to retain on your side
When you will receive the payment
Once your policy is activated, you will receive your payment within 15 days without the need for a claims adjustment process
When you should make changes
We help you understand your downtime risks by providing actionable insights that help optimize your cloud infrastructure
How you can use the funds
The payment can be used to indemnify any financial loss, inc. SLA costs, loss of income, overtime costs, or any other losses
How easy it is to expand coverage
Cover as few or as many services as you need at any specific moment, and easily add more as you scale up your cloud usage
How reliable our monitoring system is
Our system continuously tracks the health of your cloud services so you are alerted as soon as a downtime event occurs
Want to learn more?
Learn more about the only coverage for the rapidly growing downtime risks created by third-party cloud-based providers
Learn more about coverage for downtime caused by ecommerce service providers such as Shopify and BigCommerce
Learn more about coverage for downtime caused by CDN service providers such as Cloudflare and Fastly
