Parametrix

Company Overview

Snapshot

Founded in August 2019 by Jonathan Hatzor, Neta Rozy, and Tamir Carmel, Parametrix operates with 11–50 employees. The company has raised $44.5 million across two funding rounds from four investors.

Business overview

Parametrix is a Managing General Agent and Lloyd’s Coverholder specializing in digital business interruption risk solutions. The company underwrites parametric insurance against digital supply chain interruptions by leveraging proprietary technology to continuously monitor the performance of third-party IT services globally. Parametrix collects granular data on service interruptions to assess risk, provide instant insurance quotations, and streamline claims payments, which are typically delivered within days. Its policies are backed by major A-rated global insurers, serving the Fintech & Insurtech sector.

Strategic signal

In April 2024, Parametrix launched a new service for cloud risk modeling, signaling a strategic expansion of its offerings within the parametric insurance market. This development, alongside its partnership with Hannover Re to launch the world's first cloud outage catastrophe bond, indicates the company's commitment to innovation and addressing emerging risks in the digital infrastructure space. These initiatives position Parametrix to capture a larger share of the growing market for specialized cyber insurance solutions.

Company Intelligence Q&A

What was a significant funding event for Parametrix?

Hannover Digital Investments, F2 Venture Capital, and FirstMark Capital also participated.

What strategic partnership did Parametrix announce in April 2024?

In April 2024, Parametrix partnered with Hannover Re to launch the world's first cloud outage catastrophe bond, a significant step in addressing cloud infrastructure risks.

What new service did Parametrix launch in April 2024?

In April 2024, Parametrix, as a Lloyd’s Coverholder, launched a new service specifically for cloud risk modeling, enhancing its capabilities in assessing and insuring digital infrastructure.

What recognition did Parametrix receive in February 2024?

In February 2024, Parametrix was recognized as a 'game changer' at Intelligent Insurer’s Cyber Insurance Awards Europe 2024, highlighting its impact in the cyber insurance sector.

What was the impact of a Microsoft Azure outage on Parametrix in January 2023?

In January 2023, a Microsoft Azure outage triggered Parametrix's parametric cloud insurance, demonstrating the real-world application and effectiveness of its insurance products for digital infrastructure disruptions.