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Parametrix Insurance

Automated Downtime Coverage That Pays Without Prompting

With Parametrix Insurance coverage, we automatically monitor the services that you rely on, and if an interruption occurs that meets the agreed-upon threshold in your contract, we notify you and send payment immediately. No claims. No hassles. Just the coverage you deserve.

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what is Parametrix Insurance

Parametrix Insurance produces innovative, quick-settlement business interruption insurance policies that cover third-party IT infrastructure downtime for cloud-computing.

These policies are parametric by design which means a pre-agreed payment amount is transferred to you once specific, predetermined thresholds are met. This eliminates lengthy claims settlement processes and enables compensation to be paid quickly after you suffer a catastrophic event. Compared to traditional insurance, these policies cut down claims costs by eliminating the need for loss adjustment processes, forensic and legal investigations, and other costly and time-consuming measures. Additionally, setting a pre-agreed payout in advance provides risk certainty which further lowers premium costs. 

We monitor the business’ systems externally, and once a covered service goes down, your policy provides compensation needed for business continuity. This allows you to hedge your external risks, secure your revenue stream, release SLA reserves, and concentrate on your core business activities.

Don’t Let Downtime Losses Ruin You

Most businesses today rely on IT services like cloud computing, payment gateways, e-commerce platforms, the internet, and more. When one of these services goes down, your revenue model is interrupted and you lose money. Current downtime insurance programs are heavily restrictive, and proving loss is nearly impossible. It may take you years of battling with an insurance company to collect what is owed to you. 

With Parametrix Insurance coverage, we automatically monitor the services that you rely on, and when an interruption occurs that meets the agreed-upon threshold in your contract, we notify you and send payment immediately.

No claims. No Waiting. No lost time.

How Does Parametrix Insurance Work?

Predetermine Coverage

You choose the coverage amount by calculating the expected cost of downtime for your business and agreeing to terms (such as waiting period, limits) during onboarding. If the insured downtime event happens, the payout is automatically triggered. Unlike traditional insurance policies, the payout does not depend on the insurer’s assessment of loss.

Downtime Event Occurs

We monitor your service providers 24/7 and provide you with real-time updates about the status of your services. When an insured downtime event occurs, we notify you immediately and track the entire event.

You Are Compensated

Your policy provides quick payouts following the downtime event and there are no restrictions on how you use the funds. The pre-agreed terms and payout eliminate the hassles associated with traditional claims processes, creating a quick and far more transparent process, helping you to recover lost revenue from your downtime event.

Still Have Questions About Parametrix Insurance? Watch This Video:

Please Contact Me About Parametrix Insurance

Waters Insurance Network

At Water’s Insurance Network, our success is built on centuries of experience in the insurance industry. We understand the challenges our partners and their customers face. And we’re here to help them WIN – every step of the way.

At the core of our success is a management team specifically dedicated to your success. Meet them here, or click to learn more.

Rogan Dwyer

Gerry Kennedy

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