Parametrix

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).

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

Product category

Parametric Insurance

NAICS

Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Carriers, Nec (6399)

akta.pro industry

PRIMARYFSAGAGAG

IoT/Connected Risk Prevention & Parametric Triggers Platforms

Financial & Insurance/Financial Technology (Fintech)/Insurtech Platforms (Digital Insurance Enablement)

SECONDARYFSAGAGAE

Data, Analytics & AI for Insurance (Risk, Pricing, Personalization)

Financial & Insurance/Financial Technology (Fintech)/Insurtech Platforms (Digital Insurance Enablement)

Keywords

• Parametric insurance
• Cloud outage coverage
• Data center SLA insurance
• Cyber business interruption
• Digital infrastructure risk

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. 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

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core 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

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

13 partnerships are on record, tiered core and supporting.

• Hannover RecoreStrategic or Co-development Partner · 27 February 2026Parametrix 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.
• LocktoncoreChannel Partner/ Reseller/ Distributor · 23 June 2025Strategic 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)coreStrategic or Co-development Partner · 10 February 2025Parametrix 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)supportingTechnology or Integration · 2 October 2024Partnership for cyber monitoring analytics and data sharing on digital infrastructure risk.
• AoncoreStrategic or Co-development Partner · 28 August 2024Joint research on diversifying cloud outage risk within large (re)insurance portfolios. Published white paper on portfolio risk diversification strategies.
• Leavitt GroupsupportingChannel Partner/ Reseller/ Distributor · 25 January 2022Partnership to help companies mitigate cloud downtime risk through insurance solutions.
• Founder ShieldsupportingChannel Partner/ Reseller/ Distributor · 7 December 2021Collaboration to protect businesses from the cost of cloud downtime.
• Socius Insurance ServicessupportingChannel Partner/ Reseller/ Distributor · 17 November 2021Partnership to bring cloud downtime insurance to the market.
• ELEMENTsupportingChannel Partner/ Reseller/ Distributor · 24 August 2021Launch partnership to provide innovative cloud outage insurance in Europe.
• SomposupportingChannel Partner/ Reseller/ Distributor · 16 June 2021Strategic collaboration to insure e-commerce stores against cloud downtime risk.
• TechAssuresupportingChannel Partner/ Reseller/ Distributor · 1 June 2021Association partnership for delivering IT downtime insurance to emerging risks network.
• IMAsupportingChannel Partner/ Reseller/ Distributor · 17 May 2021Partnership to expand distribution of cloud downtime insurance products.
• INSUREtrustsupportingChannel Partner/ Reseller/ Distributor · 17 May 2021Agreement to bring first-of-its-kind IT downtime insurance to emerging risks network.

Scale indicators15 records

Recent moves6 records

Expansion highlights7 records

Direct 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

• LinkedInlinkedin.com/company/parametrix-insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parametrix