I ran into this exact problem and eventually discovered that Parallels and Cleverbridge (you'll see them on your previous invoice emails) appear to maintain separate email records. Updating one does not update the other.
Parallels correctly recognized my current email address, account, and activation key. Password-reset and license-lookup emails arrived immediately.
However, the Cleverbridge billing record was apparently still tied to an old school email address that I no longer had access to. This affected much more than renewal reminders. Inside my.parallels.com, every attempt to:
- update the card on file
- change billing information
- view previous invoices or order confirmations
- manage or renew the subscription
redirected me to a secure email-verification process. That verification email was sent to the old billing address and never reached me, exactly as described in this thread.
Updating the email address on the Parallels account did not appear to update the separate Cleverbridge billing record. Parallels knew who I was and knew which license belonged to me, but I still could not access any billing functions.
Because the subscription had already expired, I also could not access Parallels' advertised 24/7 live support to get help fixing the renewal problem. It did look like I could open up a ticket.
I ultimately solved the immediate issue by purchasing a new license. The new key activated my existing Parallels installation and Windows VM immediately - no reinstall was necessary. Luckily, Parallels was running a 30% discount, so the new-license price was only about $10 more than my previous renewal price. Time is money, so I went with that option so I could be done with it.
Anyone experiencing this should check whether the original purchase was made using an older email address (if you've changed your parallels email, chances are your Cleverbridge billing info is still pointing to the old one). The email shown in the current Parallels account may not be the email Cleverbridge is using for billing. Opening tickets with both Parallels and Cleverbridge before the subscription expires may be the safest option - granted, I didn't try that, just a guess.
Posting in the event this helps anyone.