User:Adrian Leonard/sandbox
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| Company type | |
|---|---|
| Industry | Insurance |
| Founded | 2018 |
| Founders |
|
| Headquarters | Paris, France |
Number of locations | 7 |
Area served | World-wide |
| Products | |
| Services |
|
| Owner | Private investors |
Number of employees | 160+ |
| Website | https://descartesunderwriting.com |
Descartes Underwriting (Descartes Underwriting SAS) is a multinational underwriting company which provides parametric insurance products that insure against natural perils including floods, droughts, supply chain disruptions, renewables yield, construction interruptions, and other climate-related risks. [1]
Headquartered in Paris, Descartes operates across six continents and has issued insurance policies covering more than 250 corporate clients[2]. Descartes is structured as an managing general agent that accepts risk on behalf of licensed insurance and reinsurance companies and Insurance-Linked Securities (ILS) funds. Descartes collaborates with insurance brokers around the world to protect corporate and public sector clients against natural catastrophes, weather, and emerging risk exposures such as wildfires.[3]
History[edit]
Descartes Underwriting was founded in 2018 by Tanguy Touffut (the founding CEO of AXA Global Parametrics); Sébastien Piguet; and Kevin Dedieu in response to multiple government calls for new sources of protection for businesses against the impacts of climate change. After raising $18.5 million in a Series A fundraising, [4] Descartes opened a New York office in 2020, further offices in Singapore, Sydney, and London in 2021, and Madrid, Frankfurt, and Hong Kong in 2022.[5] In 2022 Descartes raised $120 million thorugh a Series B financing.[6]
Descartes Insurance[edit]
Related company Descartes Insurance was launched on 13 December, 2022 as a risk-carrying insurer licensed to underwrite risk by the French supervisory authority Autorité de Contrôle Prudentiel et de Résolution (ACPR),[7] and can therefore issue policies directly to insurance buyers anywhere in the European Economic Area (EEA).[8] Elsewhere Descartes Underwriting underwrites on behalf of Generali as a managing general agent.[9]
Leadership[edit]
- Tanguy Touffut - Co-founder & CEO
- Sébastien Piguet - Co-founder & Head of Underwriting
- Kevin Dedieu - Co-founder & Head of R&D
- Louis Bollaert - Chief Revenue Analyst
- Daniel Vetter - Head of North America
- Violaine Raybaud - Chief Operations Officer
- Edern Le Roux - Head of ILS and Cat Modeling
- Meg Chaperon - Head of Marketing and Communications
Investors[edit]
Partners[edit]
- European Space Agency (ESA)
- Météo-France
- National Aeronautics and Space Administration (NASA)
- National Oceanic and Atmospheric Administration (NOAA)
- African Risk Capacity (ARC Group)
- Reask
- Global Earthquake Model (GEM)
- ICEYE
References[edit]
- ^ "These Are The Startups Applying AI To Tackle Climate Change". Forbes.
- ^ "Descartes web site". Descartes.
- ^ "Pullback by insurers opens door for parametric wildfire coverage". Business Insurance.
- ^ "Descartes Underwriting Raises $ 18.5 Million to Scale its Corporate Insurance Solutions Across the Globe". Cathay Capital.
- ^ "About Descartes – Descartes Evolution". Descartes.
- ^ "Descartes raises $120m Series B, plans for parametric growth". Artemis.
- ^ "Descartes launches full-stack insurer in France". Reinsurance News.
- ^ "Descartes Underwriting Launches New Parametric Insurer". Business Insurance.
- ^ "Pushing the boundaries of traditional insurance". Generali.