What does Parametrix do?
Parametrix provides parametric insurance solutions that protect businesses from digital system interruptions. Our products include:
We deliver fast, transparent payouts that reduce financial uncertainty and stabilize business operations.
Who underwrites your policies?
We are a Lloyd’s Coverholder, supported by leading global reinsurers and more than 20 leading underwriters at Lloyd’s of London including Munich Re Syndicate, Axis, Tokio Marine Kiln, and Apollo ibott. Depending on the product and client needs, we’re able to provide over $100M per risk.
How does your product stand out from other insurance products on the market?
Parametrix products are designed to bring clarity and transparency to business interruption coverage by replacing the traditional, complex claims adjustment process with a simple parametric model.
Instead of investigating the cause or calculating the financial loss, our policies pay a pre-agreed amount once a defined triggering event is verified using our proprietary monitoring technology. This minimizes deductibles, removes restrictions on how payouts can be used, and avoids lengthy investigations or proof of loss.
Coverage amounts and waiting periods are agreed upfront, allowing businesses to tailor protection that fits their needs while ensuring payouts are delivered quickly and predictably.
What is parametric insurance?
Parametric insurance pays a pre-agreed amount when a predefined triggering event occurs, providing protection for losses that traditional insurance often struggles to cover. Because payouts are based on verifying that the event happened, rather than calculating the financial loss.
There is no lengthy claims process, forensic investigation, or proof of loss. The result is transparent, reliable coverage with payouts made in weeks rather than years, saving organizations significant time and resources.
Where do you operate?
We are based in the US, but provide coverage globally including in the European Union, United Kingdom, and Israel with some of our partners. The availability, terms, and conditions of our products and services may vary depending on the jurisdiction, feel free to contact us for more information..
Do you work with insurance brokers?
Yes - Parametrix partners with more than 20 retail and wholesale brokers across the U.S. and internationally and distribute solely through our broker partners. We are happy to work with your preferred broker or introduce you to one of our partners. Our brokers play a key role in helping clients structure and place our parametric system-interruption solutions.
If you’re a broker and have not yet partnered with us, feel free to contact us for more information on our products.
If I need assistance or have a question, what should I do?
If you need assistance or have any questions, please reach us via our website or email at support@parametrixinsurance.com. We are always happy to answer any questions and provide any support you may need.
How do I calculate the coverage amount my business needs?
During the onboarding process, we will work with your broker to help align the defined payout amount to the financial losses incurred. This will be based on your company size, industry and business type.
We take into consideration revenue, gross profit, SLA liabilities, as well as seasonality and work hours that will suit your needs before you finalize your policy terms.
How much coverage can I buy?
We work with over 20 insurers and reinsurers with the ability to provide coverage of over $100M. Contact us for more information.
What if I have a SLA agreement with my customers?
Compensating customers for breach of SLA is an expense you may incur as a result of a business interruption events. Our policies can cover SLAs expenses. We take them into account when tailoring the coverage to the business needs.
How do I file a claim?
To submit a claim, follow the instructions outlined in your policy for claims notification and
You may also notify your broker.
How quickly do I get paid?
We strive to process and pay every claim promptly. Our standard policy is to issue payment within days from the confirmation of the loss. Please refer to the actual policy's terms and conditions issued to you.
What if I have multiple events in the same year? What if I use up my limit?
You can reinstate your coverage limit mid-term after a claim.
How do I submit a complaint?
To submit a complaint
We will make sure to escalate your complaint to the right person for handling, in accordance with Lloyd’s complaints handling frameworks.
How do I provide feedback?
We welcome feedback from all clients and partners. Please contact us at support@parametrixinsurance.com
If you need assistance at any time, please reach out to us. We are always happy to answer any questions you may have and provide any support you may need.
A parametric approach to quantifying, managing, and transfering exposure to technology downtime and digital infrastucture risk. Parametrix is a Lloyd's Coverholder whose policies are backed by major A-rated global insurers.
The products and services referred to on this website are available only in the jurisdictions in which we are licensed to transact insurance business. Nothing on this website shall be construed as an offer or solicitation to purchase insurance in any other jurisdiction. The availability, terms, and conditions of such products and services may vary by jurisdiction. The list of licenses held by Parametrix Insurance Services LLC as an insurance producer and surplus lines broker in the US states can be viewed on our license page. Parametrix provides insurance products in connection with potential downtime on services represented by brands which this website displays. Parametrix is not affiliated to, associated with, or sponsored by the owners of these brands.
.svg)