Parametrix
Parametrix is a Lloyd's Coverholder providing parametric insurance for cloud outages, data center SLA breaches, and cyber risks. The firm serves enterprise customers and asset managers through 20+ brokers across the US, UK, Europe, and Israel.
- Company typePrivate
- Founded2019
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Parametrix does
Parametrix is a Managing General Agent and Lloyd's Coverholder that issues parametric insurance policies for digital business interruption. Founded in 2019 and headquartered in New York with R&D operations in Tel Aviv, the company underwrites four core products — Data Center SLA Insurance, Cyber and Tech E&O (branded CyberPMX), Enterprise Risk Solutions, and Cloud Outage Insurance — that pay pre-agreed amounts when a defined technology event occurs (cloud outage, SLA breach, cyber/tech E&O loss), bypassing traditional proof-of-loss claims investigation.
The technical foundation is a proprietary, externally deployed monitoring system that analyzes over 260 billion cloud performance and availability data points annually, monitors 9,000+ SaaS/PaaS/IaaS providers, 750+ data centers, and 115 cloud regions, and maintains an audited history of 3,000+ cloud outage events. This platform underwrites the Parametrix Analytics cloud risk modeling product and the Cumulus Re catastrophe bond program (now in its third issuance, providing $35M of protection to Hannover Re for 2026-27).
Commercially, Parametrix sells exclusively through 20+ retail and wholesale insurance brokers across the US, UK, Europe, and Israel, targets Fortune 500 enterprises, data center operators, and major asset managers, and structures multi-year customized policies priced on company size, revenue, industry, and SLA exposure. Policies are backed by 20+ Lloyd's of London syndicates with $100M+ per-risk capacity, and the company has raised $45M in cumulative funding (a $17.5M 2021 round led by FirstMark and a $27M Dec 2025 Series B co-led by Mundi Ventures, FirstMark, and HDI Group).
Parametrix firmographics
Firmographics- Name
- Parametrix
- Legal name
- Parametrix Solutions Inc.
- Website
- https://parametrixinsurance.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Parametrix is a Lloyd's Coverholder providing parametric insurance for cloud outages, data center SLA breaches, and cyber risks. The firm serves enterprise customers and asset managers through 20+ brokers across the US, UK, Europe, and Israel.
- Ownership category
- akta.pro rank
Parametrix industry classification
Industry- Product category
- Parametric Insurance
- NAICS
- Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Insurance Carriers, Nec (6399)
- akta.pro primary industry
- IoT/Connected Risk Prevention & Parametric Triggers Platforms (FSAGAGAG)
- akta.pro secondary industry
- Data, Analytics & AI for Insurance (Risk, Pricing, Personalization) (FSAGAGAE)
Keywords
Where Parametrix is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Parametrix business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Parametric Insurance Premiums: Parametrix earns insurance premiums from providing parametric business interruption coverage for cloud outages, data center SLA breaches, and cyber/technology E&O risks. Policies pay pre-agreed amounts when defined triggering events occur, eliminating traditional claims investigation. Coverage limits can exceed $100M per risk.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Enterprise coverage with customized limits |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels6 records
Parametrix product offering
Product offeringCore offering
Parametrix is a Managing General Agent and Lloyd's Coverholder that underwrites and distributes parametric insurance policies covering digital business interruption, cloud service outages, data center SLA breaches, and cyber/technology errors and omissions. Its proprietary cloud-monitoring platform detects outages in real time and automatically triggers pre-agreed payouts, replacing traditional claims investigation with fast, certainty-based settlement backed by 20+ Lloyd's syndicates.
Product overview
Parametrix is a Managing General Agent and Lloyd's Coverholder offering a suite of parametric insurance products for digital business interruption. The product portfolio consists of four core insurance solutions—Data Center SLA Insurance, Cyber and Tech E&O (CyberPMX), Enterprise Risk Solutions, and Cloud Outage Insurance—all built on the proprietary Parametrix Analytics platform. The Analytics platform underpins all products by providing real-time monitoring of 750+ data centers, 9,000+ SaaS/PaaS/IaaS providers, and processing 260 billion cloud performance data points annually. Products are distributed exclusively through insurance brokers and backed by 20+ Lloyd's syndicates with over $100M per-risk capacity. The company also issues catastrophe bonds (Cumulus Re program) for risk transfer to capital markets investors.
Differentiator
Problem solved
Functional benefit
Brands
- CyberPMX: A parametric cyber insurance product underwritten at Lloyd's of London, providing rapid pre-agreed payouts for digital supply chain outages and embedding parametric business interruption coverage into conventional cyber and tech E&O policies.
Products and services
- Data Center SLA Insurance Parametric insurance coverage for data centers that unlocks institutional capital and enables investment-grade protection for digital infrastructure assets, covering SLA-related penalties and business interruption. For data center owners, operators, investors, and lenders.
- Cyber and Tech E&O (CyberPMX) Traditional cyber and tech errors & omissions coverage with a parametric business interruption trigger, providing comprehensive protection against digital system interruptions. CyberPMX delivers rapid pre-agreed payouts for digital supply chain outages and embeds parametric business interruption coverage into conventional cyber policies.
- Enterprise Risk Solutions Standalone system-failure parametric business interruption product covering both first-party and third-party losses for enterprise clients facing system failure and disruption events.
- Cloud Outage Insurance Parametric insurance protecting businesses from financial losses caused by cloud service provider outages, including AWS, Microsoft Azure, and Google Cloud Platform, with pre-agreed payouts triggered by detected downtime events.
- Parametrix Analytics Cloud risk modeling platform for (re)insurers that provides portfolio management, underwriting support, realistic disaster scenario definition, and customized risk transfer solutions. Tracks 260 billion+ cloud performance and availability data points annually across 9,000+ providers, 750+ data centers, and 115 cloud regions.
- Cumulus Re Catastrophe Bond Program Parametric cloud outage catastrophe bonds providing reinsurance protection against cloud service provider disruptions. Cumulus Re I was the first-ever cloud outage cat bond; Cumulus Re III provides $35M of protection for Hannover Re for 2026-27, covering outages affecting AWS, Microsoft Azure, and Google Cloud Platform.
Quantifiable outcome
- Payouts delivered within days of outage confirmation vs. months/years for traditional BI claims
- +3 more outcomes
Companies that use Parametrix
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
Parametrix technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature5 records
Parametrix partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and supporting.
- Hannover RecoreParametrix placed third cloud outage catastrophe bond Cumulus Re III providing Hannover Re with $35M protection for 2026-27. Covers outages affecting AWS, Azure, and GCP across US and EU regions.
- LocktoncoreStrategic partnership to deliver SLA insurance products for data centers. Lockton is one of the world's largest independent insurance brokers.
- Lloyd's of London Syndicates (Munich Re, Axis, Tokio Marine Kiln, Apollo ibott)coreParametrix is a Lloyd's Coverholder with policies backed by 20+ Lloyd's syndicates including Munich Re Syndicate, Axis, Tokio Marine Kiln, and Apollo ibott providing over $100M per risk capacity.
- Cyber Monitoring Centre (CMC)supportingPartnership for cyber monitoring analytics and data sharing on digital infrastructure risk.
- AoncoreJoint research on diversifying cloud outage risk within large (re)insurance portfolios. Published white paper on portfolio risk diversification strategies.
- Leavitt GroupsupportingPartnership to help companies mitigate cloud downtime risk through insurance solutions.
- Founder ShieldsupportingCollaboration to protect businesses from the cost of cloud downtime.
- Socius Insurance ServicessupportingPartnership to bring cloud downtime insurance to the market.
- ELEMENTsupportingLaunch partnership to provide innovative cloud outage insurance in Europe.
- SomposupportingStrategic collaboration to insure e-commerce stores against cloud downtime risk.
- TechAssuresupportingAssociation partnership for delivering IT downtime insurance to emerging risks network.
- IMAsupportingPartnership to expand distribution of cloud downtime insurance products.
- INSUREtrustsupportingAgreement to bring first-of-its-kind IT downtime insurance to emerging risks network.
Scale indicators15 records
Recent moves6 records
Expansion highlights7 records
Parametrix competitors and assessment
Company assessmentDirect peers
- At-Bay: Cyber and tech E&O insurtech MGA offering active monitoring and insurance for businesses. Direct competitor to Parametrix in the cyber insurance space, with overlapping distribution through brokers and a similar focus on improving the cyber insurance experience.
- Coalition: Cyber insurance MGA combining proprietary internet scanning data with cyber coverage. Competes with Parametrix in technology-enabled cyber insurance, particularly in serving mid-market and enterprise customers with enhanced risk insights.
- Resilience Cyber Insurance Solutions: Cyber insurance provider focused on enterprise and middle-market clients with proprietary risk quantification. Competes with Parametrix in serving enterprise cyber and tech E&O buyers with data-driven underwriting.
- Corvus Insurance: Cyber insurtech MGA using proprietary data sources for underwriting. Direct competitor in the tech-enabled cyber and technology E&O market serving broker-distributed enterprise and mid-market customers.
Broad incumbents
- Munich Re: Global reinsurer with parametric insurance capabilities and major Lloyd's syndicate backing Parametrix's policies. Provides reinsurance capacity and offers competing parametric solutions across multiple risk categories.
- Swiss Re: Global reinsurer with parametric insurance solutions and risk modeling capabilities. Competes with Parametrix Analytics in providing risk modeling services to (re)insurers, and offers parametric coverage across weather and other risk categories.
- Hannover Re: Global reinsurer (parent of HDI Group, a Series B co-lead in Parametrix) and counterparty on the Cumulus Re cat bond program. Provides reinsurance capacity to Parametrix and offers competing parametric and reinsurance products in the digital infrastructure space.
- Beazley: Specialty insurer with significant cyber and technology E&O market presence. Competes with Parametrix CyberPMX for cyber insurance buyers, particularly in the enterprise and large-account space distributed through brokers.
Emerging players
- Arbol: Parametric insurance platform primarily focused on weather and climate risk. Comparable to Parametrix as a parametric insurtech using external triggers and data-driven payouts, though operating in a different risk vertical.
Others
- Aon: Global insurance broker and risk advisory firm that has co-developed research with Parametrix on cloud outage risk diversification. Functions as a distribution partner and ecosystem participant rather than direct competitor.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Parametrix social profiles
Digital presenceParametrix financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parametrix leadership team
Management profileNumber of profiles
Profiles10 records
Parametrix subsidiaries and ownership
Company hierarchySubsidiaries3 records
Parametrix funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parametrix M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parametrix
What does Parametrix do?
Parametrix is a Managing General Agent and Lloyd's Coverholder that underwrites and distributes parametric insurance policies covering digital business interruption, cloud service outages, data center SLA breaches, and cyber/technology errors and omissions. Its proprietary cloud-monitoring platform detects outages in real time and automatically triggers pre-agreed payouts, replacing traditional claims investigation with fast, certainty-based settlement backed by 20+ Lloyd's syndicates.
Is Parametrix a public or private company?
Parametrix is a private company. It is classified as venture growth investor backed and is currently operating.
When was Parametrix founded?
Parametrix was founded in 2019. It employs 11 to 50 people.
Where is Parametrix based?
Parametrix is headquartered in New York, United States, in the North America region.
How does Parametrix make money?
One revenue line is on record: parametric Insurance Premiums.
Who are Parametrix's main competitors?
Direct peers on record are At-Bay, Coalition, Resilience Cyber Insurance Solutions and Corvus Insurance. Broad incumbents are Munich Re, Swiss Re, Hannover Re and Beazley. Arbol is listed as an emerging player. Aon is listed as an others.
Does Parametrix have an API?
No public API is recorded for Parametrix.
What industry is Parametrix in?
Parametrix's product category is Parametric Insurance. Its primary akta.pro industry code is FSAGAGAG, IoT/Connected Risk Prevention & Parametric Triggers Platforms, with a secondary code of FSAGAGAE, Data, Analytics & AI for Insurance (Risk, Pricing, Personalization). Its NAICS code is 5241 and its SIC code is 6399.