Parametrix Insurance

Parametrix Insurance specializes in providing parametric cloud downtime insurance. The company offers insurance products designed to protect businesses against potential losses resulting from downtime of cloud services. Parametrix's coverage is specifically tailored to address the risks associated with outages in cloud-based platforms and services. The company's insurance solutions are available in jurisdictions where it is licensed to transact insurance business.

Key customers and partnerships

In May 2022, Parametrix Insurance entered into a partnership with IMA Financial Group, a North American insurance brokerage firm. This collaboration aimed to expand the availability of parametric downtime coverage throughout IMA's entire footprint and subsidiaries. As part of the partnership, Parametrix integrated its services into IMA's platforms and systems for streamlined provisioning. The two companies also agreed to collaborate on marketing activities and offer consultative enterprise assessments and analysis of downtime risks and exposure to their clients.