PRMX

PRMX (Parametra) is a decentralized natural disaster insurance protocol in the Polkadot ecosystem, aiming to provide basic disaster cover for developing regions that conventional insurers underserve. It uses a parametric structure: the policy states validity period, rainfall threshold and underwrite amount at the moment of underwriting, and the premium is calculated deterministically from those parameters by an actuarial model trained on more than 20 years of rainfall data for the relevant regions, with pricing rules open to policyholders.

Claims do not depend on manual loss adjustment: weather oracles monitor rainfall through the policy's validity period, and once the index crosses the agreed threshold the smart contract pays the policyholder automatically, with the whole process auditable on-chain and without the weeks or months typical of traditional claims. The disclosed starting scenario is rainfall insurance in Luzon, Philippines, offering low-premium instant-payout products from the third quarter of 2025 to those most exposed to rainfall volatility.