In the news - Parametrix Cloud Outage Analytics & Insurance Solutions

In The

News

The latest and greatest news about our company and product and market updates

Press Release

October 2, 2024

Cyber Monitoring Centre partners with Parametrix Analytics

Initial findings show around 90% of the FTSE 100 companies are cloud dependent.

Press Release

August 29, 2024

Geographical Diversification Reduces Systemic Cyber Risk, Joint Aon/Parametrix Study Shows

A powerful finding for cyber insurers allows them to “reduce systemic cyber risk exposures.”

Press Release

July 24, 2024

CrowdStrike to Cost Fortune 500 $5.4 billion; Insured Loss Range of $540 million to $1.08 billion

Parametrix modeling shows health, banking sectors are worst hit.

Press Release

May 12, 2024

“More Realistic” Cloud Outage RDS for Lloyd’s Outlined by Parametrix Analytics

Parametrix discussion paper builds on new data and better understanding of cloud behavior to propose a new approach to RDS 17.3, Cloud Cascade.

Press Release

April 30, 2024

Cloud Outage Severity Up Dramatically in 2023, Frequency also Greater: Parametrix

Parametrix uses a study of Fortune 500 companies to demonstrate its approach to quantifying the impact of cloud outages on companies and identifying the more impactful potential events to the insurance industry and managing the risk of accumulation.

Press Release

April 15, 2024

First-Ever Cloud Outage Catastrophe Bond Issued

Parametrix cooperates with Hannover Re to structure and place innovative cyber risk transfer tool.

Press Release

April 15, 2024

Parametrix Analytics Launched for Cloud Risk Modeling

New service assesses and quantifies systemic cyber business interruption risk in the global digital supply chain.

Press Release

February 29, 2024

Parametrix Expands Monitoring Capabilities to AI Services like ChatGPT

AI Availability Monitoring Enables Holistic Business Interruption Insurance for the Digital Supply Chain

Press Release

February 12, 2024

Parametrix Awarded Cyber InsurTech of the Year

We are honored to take home Cyber InsurTech of the Year at Intelligent Insurer’s Cyber Insurance Awards Europe 2024.

Press Release

November 17, 2023

Fortune 500 vulnerable to cloud risks, could suffer losses over $20 billion

Press Release

March 20, 2023

23% of companies say downtime costs them $500K+ per hour

An in-depth overview on cloud downtime to allow risk managers to learn, understand and analyze their companies’ exposures and take appropriate measures.

Press Release

February 16, 2023

Cloud Outage is the next risk class primed for ILS risk transfer

ILS instruments to cover a catastrophic cloud outage present a low-correlation, diversifying, and highly attractive insurance-linked investment opportunity, according to the MGA Parametrix Solutions, Inc.

Press Release

January 26, 2023

Cloud Insurer Parametrix to Pay Claims after MS Azure Outage

Claims are triggered as the world’s second-ranked cloud service provider suffers service outage bringing down multiple regions around the world for 2.40 hours.

Press Release

December 15, 2022

Parametrix strengthens its US operations with extended reinsurance capacity

Reinsurance capacity is provided by certain underwriters from Lloyd’s and Hannover Re.

Press Release

October 19, 2022

Parametrix listed in Sønr Insurtech 100 for year 2022

Parametrix insurance listed in Sønr Insurtech 100 for year 2022

Press Release

October 4, 2022

NU PropertyCasualty360 2022 Risk Management Innovation Honorees

Congratulations to Parametrix, one of the Risk Management Innovation honorees in NU PropertyCasualty360’s Class of 2022 Luminaries recognition program!

Press Release

September 14, 2022

Parametrix wins Finovate's "Best Insurtech Solution" award for 2022

As concerns about cloud downtime rise, most executives have a misconception that their cyber or E&O insurance fully cover them for such an event

Press Release

August 16, 2022

Gartner on Emerging Tech of Cloud Downtime

Product leaders can partner with licensed financial services institutions to augment their cloud service offerings with value-added service options.

Press Release

August 8, 2022

415 Research: Parametrix Insurance leverages tech to insure cloud outages

Parametrix has developed a proprietary system built to continuously monitor a variety of third-party IT services across the globe for outages and interruptions.

Press Release

May 29, 2022

The Wall Street Journal on the crypto industry's new approach to insurance

The Wall Street Journal discusses insurtech innovators and how they are helping add security and trust in the crypto industry.

Press Release

May 17, 2022

Parametrix and IMA Partner to Expand Distribution of Cloud Downtime Insurance

Pioneer in tech downtime insurance and innovative insurance brokerage firm join forces to help companies mitigate the risk of cloud outages

Press Release

May 10, 2022

Protocol publishes feature on Parametrix

Protocol wrote a piece about the volatility of cloud services and how insurance can cover financial losses from outages that knock businesses offline.

Press Release

April 5, 2022

Introducing Cloud Downtime Insurance for Crypto

Cloud Downtime Insurance for Crypto exchanges, wallets, DeFis or platforms is available to insure crypto companies against cloud outages

Press Release

March 1, 2022

Parametrix Appoints Rick Wong as Head of Insurance

Parametrix, the provider of cloud downtime insurance, today announced it appointed Hiscox veteran Rick Wong as head of insurance.

Press Release

February 7, 2022

Parametrix featured on the Wall Street Journal

Parametrix, the provider of cloud downtime insurance, today announced it appointed Hiscox veteran Rick Wong as head of insurance.

Press Release

January 25, 2022

Parametrix and Leavitt Group team up to help companies mitigate cloud downtime risk

ComTech-Leavitt Insurance Services of Leavitt Group and Parametrix have partnered to help businesses that use the cloud reduce their exposure to the risks of cloud downtime.

Press Release

December 7, 2021

Parametrix, Founder Shield join forces to protect business from cloud downtime

See how Parametrix and Founder Shield joined forces to provide better protection against the damages of cloud downtime for businesses.

Press Release

November 30, 2021

Parametrix adds four new members to executive team

Israeli insurtech startup Parametrix announcew four new hirings to its executive team

Press Release

November 17, 2021

Parametrix and Socius partner to bring cloud downtime insurance to the market

Socius Insurance Services has launched a cloud downtime offering in the wholesale market in partnership with Parametrix.

Press Release

September 12, 2021

Down, but not out: Parametrix ensuring uptime glitches aren’t destructive

Israeli startup Parametrix recently expanding into Europe after already entering the U.S. and partnering with Japanese insurance giant Sompo‍.

Press Release

August 31, 2021

Parametrix cloud downtime cover: closing the protection gap for clients

Parametrix has the distinction of delivering a true first in the Lloyd’s Lab. A new class of parametric insurance – downtime business interruption cover.

Press Release

August 24, 2021

ELEMENT and Parametrix launch innovative cloud outage insurance in Europe

ELEMENT, Germany's only 100% cloud-based insurance company, is proud to announce a new partnership with US-based Parametrix Insurance - the first on an international level.

Press Release

August 16, 2021

Parametrix wins 2021 Business Insurance Innovation Award

We were delighted to be recognized at this year’s Business Insurance Innovation Awards for our parametric cloud downtime insurance.

Press Release

June 16, 2021

Sompo signs strategic collaboration with Parametrix to insure e-commerce stores

Parametrix, which specializes in insurance policies in the event of cloud-based crashes or downtime, plans to provide service to millions of customers in Japan and the Far East over the next few years

Press Release

June 1, 2021

Parametrix announces new partnership with TechAssure

TechAssure members will gain access to Parametrix’s insurance products that protect tech-reliant businesses from third-party IT downtime.

Press Release

May 26, 2021

(TechCrunch) Parametrix Insurance raises $17.5 Million for cloud downtime insurance

Parametrix announces the close of a $17.5 million funding round, offers insurance policies for companies that rely on third-party cloud providers, e-commerce services, payment gateways and CRM systems.

Press Release

May 26, 2021

FirstMark Capital leads $17.5M round for Parametrix

Parametrix Insurance announces $17.5M in funding from leading VC firms including FirstMark Capital with participation from F2 Venture Capital.

Press Release

May 17, 2021

INSUREtrust and Parametrix bring IT Downtime Insurance to Emerging Risks Network

Parametrix to support INSUREtrust’s exclusive group with a new policy that indemnifies a client for its dependent business income loss at a pre-determined rate per hour.

Press Release

December 11, 2020

Podcast: Co-founder & CTO about parametric downtime insurance

Co-founder and CTO of Parametrix Insurance, Neta Rozy, joins Matthew on Episode 115 to discuss the company’s rapid growth and how they’re using technology to monitor thousands of digital services worldwide.

Press Release

October 8, 2020

InsTech London: Parametric insurance – 2021 outlook and the companies to watch

InsTech London's 2021 outlook and companies to watch mentions parametric insurance model as starting to offer attractive solutions where conventional insurance has failed.

Press Release

September 30, 2020

Lloyd’s launches biz interruption insurance policy for SMEs

Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime.

Press Release

May 20, 2020

Parametrix listed in the 2020 Insurtech 100

Parametrix listed in the 2020 Insurtech 100, a celebration of the leading startups and scaleups across insurance, worldwide

Press Release

February 27, 2020

Zurich announces Parametrix as UK finalist for global innovation prize

Insurer Zurich announces Parametrix, as the UK finalist of its World Innovation Championship.

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.