Machine Cover
Parametric insurance technology platform for carriers, MGAs, and brokers
Overview
Machine Cover is a parametric insurance technology platform serving carriers, MGAs, and brokers in the specialty and P&C markets. Founded in 2018 and headquartered in Wenham, Massachusetts, the company provides infrastructure for distributing and servicing parametric insurance products where payouts are triggered by objective, measurable events rather than traditional claims assessment.
The company operates two core technology components: SCAN, a machine-learning-based monitoring system that tracks IP-addressable devices such as websites and IoT sensors, and PLATFORM, a REST API infrastructure for selling and servicing parametric insurance products. Current product lines cover website impairment, travel delay, and wind-storm property damage. All products use objectively verifiable data triggers and predetermined payout amounts, eliminating disputes and simplifying the claims process.
Machine Cover is bootstrapped and early-stage, with an advisory board drawn from former senior executives at CNA Insurance, AIG, MetLife, Zurich Insurance, Allianz, and Renaissance Reinsurance Services. The company targets insurance distributors seeking to add parametric offerings without building monitoring and trigger infrastructure in-house.
Products & Services
SCAN
ML-based monitoring system for IP-addressable devices including websites, servers, and IoT sensors. Monitors approximately 31 million US websites for availability and performance, providing objective, real-time data that can serve as parametric insurance triggers.
Key Features
- Continuous monitoring of website uptime and performance
- Machine learning for anomaly and impairment detection
- Objective trigger data for automated payout decisions
Target Users: Insurance carriers, MGAs, and brokers using Machine Cover's parametric products
PLATFORM
REST API-based infrastructure for distributing and servicing parametric insurance products. Enables insurance partners to integrate parametric coverage into their existing websites and mobile applications.
Key Features
- REST API integration for sales and policy servicing
- Support for multiple parametric product lines
- Partner website and mobile application integration
Target Users: Carriers, MGAs, and brokers distributing parametric products
Website Impairment Coverage
Parametric product that pays a fixed amount if a monitored website remains impaired for 24 or more hours. Uses uptime monitoring data as the objective trigger.
Key Features
- Coverage based on objective uptime measurement
- 24-hour impairment threshold trigger
- Predetermined fixed payout, no claims adjustment required
Target Users: Business owners and e-commerce operators purchasing through carrier or broker partners
Travel Delay Coverage
Parametric product reimbursing customers for flight delays exceeding a specified threshold. References historical data from 200+ million US flights for pricing and trigger calibration.
Key Features
- Trigger based on flight delay duration (e.g., 2+ hours)
- Pricing calculated as percentage of ticket cost
- Automated payout based on verifiable flight data
Target Users: Travelers purchasing through carrier or broker partners
Wind-Storm Coverage
Property protection product providing a USD 10,000 payout when wind speeds exceed 100 mph within 20 miles of the insured property. Uses objective weather observation data as the trigger.
Key Features
- Weather data-based objective trigger
- Fixed USD 10,000 payout
- 20-mile proximity radius for trigger qualification
Target Users: Property owners purchasing through carrier or broker partners
At a Glance
- Founded
- 2018
- Headquarters
- Wenham, Massachusetts
- Employees
- 1-10
- Funding
- Bootstrapped
Category & Focus
- Category
- Specialty Solutions
- Subcategories
- Parametric Insurance API Platform Risk Monitoring
- Insurance Verticals
- Specialty/E&S P&C Commercial
- Target Customers
- Carriers, MGAs/MGUs, Brokers
Links
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Last updated: 2026-05-17