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Bernalillo County has netted $4 million in federal funding to update a road that county officials believe could boost West Side economic development. ....
ILS for cloud outage can be a game-changer for cyber insurance: Parame intelligentinsurer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from intelligentinsurer.com Daily Mail and Mail on Sunday newspapers.
There are myriad benefits for a company that is highly connected, data-driven and technology-enabled. Decisions are made faster and with greater accuracy. There is a greater reach and companies can experience sustainable growth at rates never before thought possible. But, as always, there are consequences. With technology advances have come the threat of technology downtime and business interruption with the potential to cost millions in lost revenue or worse, litigation. ....
Japanese insurance giant Sompo has launched a new insurance product to insure e-commerce stores on platforms such as Yahoo! Shopping, Shopify, and Amazon, based on the technology of Israeli startup Parametrix. Paramatrix s plan is to provide service to millions of customers in Japan and the Far East over the next few years, thanks to the collaboration. The project was created and agreed upon during the Covid-19 pandemic solely through Zoom meetings. Parametrix specializes in insurance policies in the event of cloud-based crashes or downtime, ensuring that companies with mission-critical services in the cloud can quickly recover from IT downtime events. The startup, which raised $17.5 million earlier this month from FirstMark Capital, and F2 Ventures, was founded two years ago and has more than 30 employees in offices in Israel and around the world. The company offers its insurance products in Israel, the U.S., and Europe, and now with the collaboration with Sompo is expand ....
Insurtech is picking up steam in a big way, but startup Parametrix thinks there is still plenty of room left to innovate. The company, which today announced the close of a $17.5 million funding round, offers insurance policies for companies who rely on third-party cloud providers, ecommerce services, payment gateways and CRM systems. In essence, downtime from one of these services can cost a company millions in revenue, but it's completely out of their control. ....