REVO Insurance launches a strategic partnership with Paradigmix and accelerates the parametric

Verona, 16 October 2024 – REVO Insurance, the first Italian operator specialising in parametric policies and specialty lines for SMEs and professionals, continues along the growth trajectory in the parametric area with the signing of an important partnership with Paradigmix, a management consulting company specialising in Risk and Performance Management in the field of Digital Servitisation. Their patented solution analyses and optimises service contracts. With this agreement, REVO seeks to expand its scope of action by completing its partner's offer with a parametric solution that enhances it and sets it apart.

Specifically, REVO cover will complement the package of services that Paradigmix provides under its servitisation contracts with third parties in the industrial manufacturing and medical device sectors. Essentially, in addition to management services for the various items of equipment provided, such as presses in the case of manufacturing, or diagnostic tools in healthcare facilities, Paradigmix will act as an ‘oracle’. In the event of a production line failure, the company will certify a triggering event (a “trigger”). When such a situation occurs, REVO's parametric guarantee will be activated. According to a calculation model defined during contract signature, REVO will allocate compensation for loss of turnover arising from the business interruption.

“Parametric solutions have many fields of application and this agreement is a testimony to that. The partnership with Paradigmix in fact allows REVO to further expand its scope of action in the area of business interruption covers in two segments in which we were not present with a structured parametric offer until now: manufacturing and medical devices. This agreement is in line with current trends in a specific market: that of SMEs and professionals, and is increasingly oriented to meet the demand for highly customised services, in which parametric cover is a valid, and above all rapid, means of protection for entrepreneurs who want to ensure the continuity of their business” – commented Roberta Spadoni, Head of Parametric Solutions at REVO Insurance.

REVO's parametric offer for this type of product will be modulated on the basis of information already in Paradigmix's possession, which is the result of the latter’s technological analyses of the machinery. This kind of data interaction is made possible by the high technological capacity of REVO, whose OverX platform enables the company to interface with any computer system.