This development extends the company's vital cloud monitoring, modeling, and insurance services to this substantial new digital infrastructure by enabling the monitoring of platforms such as OpenAI's ChatGPT, Google Gemini, Claud, and others.

With this advancement, Parametrix can now provide brokers and insurers with the necessary resources to manage and lower the risks associated with AI service disruptions.


This feature closes the crucial coverage gap created by the rapid improvements in AI technology by enabling insurers and brokers to create parametric Non-Damage Business Interruption packages.

Through this project, clients of Parametrix will be able to develop risk models that are more accurate and flexible, resulting in insurance solutions that are more responsive and resilient.

"We have developed this powerful tool in response to calls from the insurance industry to help them cope with clients' emerging digital risk concerns," said Jonathan Hatzor, CEO of Parametrix. We make it possible to address yet another crucial business-risk coverage gap brought about by the technological era by entering the field of AI service monitoring.

Businesses across all industries are depending more and more on outside AI platforms to run chatbots and other automated services, as well as to automate jobs, workflows, and procedures. When AI delivery is compromised, productivity can cease, and if the outage lasts a long time, it could be very expensive. In order to mitigate the risk of AI outages, insurers or brokers can now design parametric Non-Damage Business Interruption products thanks to this new monitoring capacity, the speaker said.