Parametrix is a technology-driven insurance provider specializing in parametric coverage solutions for businesses. They focus on offering policies that address risks related to IT downtime, such as cloud outages, e-commerce downtime, and payment system failures. Their products are designed to provide quick payouts based on objective metrics, minimizing the financial impact of downtime incidents. By using technology to monitor service interruptions, Parametrix can offer precise and timely compensation to affected companies without lengthy claims processes.