Overview
AIR Parametric is a specialty insurance provider delivering parametric insurance solutions for businesses impacted by lost revenue due to extreme weather events. The company builds products from the outside in, working directly with customers and their insurance advisors to understand how extreme weather impacts their operations, then designing coverage that addresses those specific risks.
Unlike most parametric insurance providers that build products and force-fit them into a carrier's or agent's toolbox, AIR Parametric develops its proprietary products and pricing models using independently reported geospatial weather data and leading AI technology. By monitoring weather 24/7, the company ensures transparency of outcomes and a simplified process for customers and distribution partners.
AIR Parametric targets the significant insurance coverage gap for weather-related business losses that do not involve physical damage to property or equipment, a gap that traditional commercial insurance fails to address. Their platform computes billions of weather data elements to deliver parametric weather peril risk management tools.
Products & Services
Milkshake
Milkshake is a parametric insurance product designed to protect US dairy and cattle producers from the financial impacts of heat stress on livestock. The product provides compensation for lost revenue and higher expenses when the temperature-humidity index (THI) reaches higher-than-normal levels, impacting a herd's milk production and quality.
Key Features
- Coverage for THI conditions causing volume shortfalls or lower quality product
- Simple contract that pays predetermined amount when THI thresholds are breached
- Precise location-based weather measurements using ECMWF data
- Coverage periods of three, five, or seven days with three customizable trigger options
- Automated claims processing with payouts in less than one week from triggering conditions
- Online claims reporting and payment process
Target Users: Dairy farmers, cattle producers, and their insurance agents
Weather.BI
Weather.BI provides business owners lost revenue compensation when specified weather events, such as wildfires or rainfall events, significantly reduce sales, even when there is no physical property or equipment damage. The product targets the over 30 million US small and mid-sized businesses exposed to business interruption risk from weather events and natural catastrophes.
Key Features
- Coverage for two predetermined weather perils (extreme temperature, wildfire, excess rainfall) with corresponding trigger thresholds based on customer ZIP code
- Clear and simple triggers remove the mystery of claims
- Immediate claims processing providing funds to customers in real time after a loss event
- Designed as an embedded product feature of existing affinity-based insurance programs
- Flexibly delivered by MGAs and Program Administrators as monoline or companion endorsement
Target Users: Small and mid-sized businesses in retail, service, and hospitality sectors
At a Glance
- Founded
- 2023
- Headquarters
- Boston, Massachusetts
- Employees
- 11-50
- Funding
- Seed
Category & Focus
- Category
- Specialty Solutions
- Subcategories
- Parametric Insurance Weather Risk Management AgriTech Insurance
- Insurance Verticals
- P&C Commercial Specialty/E&S
- Target Customers
- Agents/Agencies, MGAs/MGUs, Carriers, Consumers
Customers
- Farm Bureau Insurance of Michigan (distribution partner)
Similar Companies
-
GGALWAY STRATEGIC SOLUTIONSStrategic consulting and advisory services driving innovation and growth for insurance and financial services firms.
-
EENVIROSMARTSIoT-based water leak detection and prevention for commercial real estate, hospitality, and multifamily properties.
-
EELPHA SECUREIntegrated cyber insurance and cybersecurity software platform protecting small and medium-sized businesses against evolving cyber threats.
-
FOXENAI-enabled renters insurance compliance and resident financial wellness for multifamily housing. -
FFOCUSPOINT INTERNATIONALEmergency response as a service for travelers, corporations, and governments worldwide
-
Flueid Software CorporationAutomating title risk verification and insurance underwriting through data-driven decisioning for the residential real estate market.
Last updated: 2026-03-25