Protocol wrote a piece about the volatility of cloud services and how insurance can cover financial losses from outages that knock businesses offline.
“The 3-year-old startup offers cloud downtime insurance to compensate policyholders for their financial losses — or their customers’ losses — when their cloud provider has a service disruption. On average, one of the three major public cloud providers — AWS, Microsoft Azure and Google Cloud — experienced an outage lasting at least 30 minutes every three weeks in 2021, according to Parametrix.”
Read the full story here.
About Parametrix
Parametrix is the leading provider of digital infrastructure insurance, protecting organizations against downtime across cloud, AI, SaaS and data center ecosystems. Leveraging a proprietary network of monitoring systems, they collect and analyze billions of data points on the performance and availability of critical infrastructure, enabling real-time underwriting and claims automation. Parametrix’s solutions help businesses, data center stakeholders, and (re)insurers to quantify, manage, and transfer the financial risks of downtime with unmatched precision. The company is a Managing General Agent and Lloyd’s Coverholder, with policies backed by major A-rated global insurers, and is headquartered in New York.
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