Downtime Happens. Are Your Mission-critical Systems Covered?
A rapidly growing number of companies are moving to cloud-based services which come with great benefits but also with unavoidable risks. If even one of these services goes down, businesses incur significant damages in terms of revenue losses, SLA liabilities, employee productivity and customer reputation.
What You Get With Parametrix
We offer the only Cloud Downtime Insurance policy that covers the growing risks presented by third-party cloud-based outages. Our unique products are based on parametric models which provide rapid pre-agreed payouts to cover every type of loss, regardless of the reason for downtime.
Determine Coverage Levels
We work with customers to calculate a level of coverage per hour of cloud downtime that makes sense for their business, with the flexibility of dynamic coverage.
Cloud Outage Occurs
Parametrix monitors cloud services continuously, so we know exactly when downtime happens. Customers don’t have to install anything.
Get the Funds You Need, Hassle-free
We pay claims at pre-agreed formula levels right after the outage event, so customers can recover expenses, repair damages, and reaffirm their commitment to clients and investors without the hasslte of a claims adjustment process.
Closing a Critical Protection Gap for Companies of All Sizes
Our insurance offerings bridge a critical existing gap in technology insurance with parametric models which also ensure their simplicity, trust, and transparency. They can be purchased as stand-alone policies, or as an addition to your cyber and business interruption policies so that you cover all your key technology risks in one bundle.
Deductibles for cyber insurance or other tech related insurance can range from a few thousand to more than one hundred thousand dollars.
Short, simple and digital underwriting processes
Cyber insurance or other tech related insurance have long and complicated processes due to the lack of credible data about cloud downtime.
Waiting periods as minimal as two to four hours
Waiting periods for cyber insurance or other tech related insurance start from at least 12 or 24 hours with long and tiring claims adjustments processes.
Payout within weeks instead of months, no traditional claims adjustment process
Claims processes and payouts for cyber insurance or other tech related insurance can take anywhere from six months to three years.
Cover for all losses with no restrictions
Cyber insurance or other tech related insurance have a named peril (typically cyber attacks) and do not cover items such as SLAs.
Want to learn more?
Learn more about coverage for downtime caused by cloud service providers such as AWS, Azure and GCP
Learn more on how risk managers can protect their companies from cloud outage risks
Learn more from Garther’s report on how product leaders can partner and expand their offerings with cloud outage insurance and other offerings integrating value-added service options.
Learn more about coverage for downtime caused by CDN service providers such as Cloudflare and Fastly