Cloud Outage & the Fortune 500

93.6% of Fortune 500 companies are reliant on cloud services. What could happen if they suffer a catastrophic cloud outage?
Cloud Outage and the Fortune 500: A Parametrix impact analysis
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Use of the cloud has been adopted widely by corporations in recent years, becoming the third-party backbone of the digital supply chain. It is especially high among Fortune 500 companies, a cohort which boasts a total market value of more than $20 trillion and employs about $29.2M people worldwide. Parametrix Insurance uses a study of Fortune 500 companies to:
  • demonstrate its approach to quantifying the impact of cloud outages on companies 
  • identify potential high-impact events to the insurance industry, and
  • show the necessity and ability to manage accumulation risk
Based on data accumulated by the Parametrix Cloud Monitoring System and information about companies’ cloud infrastructure, the Fortune 500 case study provides a multi-billion-dollar benchmark for the impact of catastrophic cloud outage events. Parametrix is able to:
(i) a model of cloud outage behavior,
(ii) profile the cloud infrastructure of companies based on an external scan of their tech stack, and
(iii) estimate the impact of cloud outages on specific companies based on their cloud architecture and trading sector
That groundbreaking Parametrix technology allows risk carriers to quantify and manage the accumulation risk posed by cloud outage events.