Weather hazards pose significant challenges to the energy sector. Discover how a major electricity provider in a state prone to heatwaves, sought a parametric insurance policy from Descartes to safeguard against revenue losses. #DescartesUnderwriting #ParametricInsurance
Descartes Underwriting
Insurance
Paris, Île-de-France 27,763 followers
A new generation of insurance that builds resilience against climate, cyber, and emerging risks
About us
Descartes collaborates with brokers across the world to protect their corporate clients & governments against climate, cyber, and other emerging risks, through a unique data-driven approach. OUR PURPOSE Descartes was born out of the conviction that climate change calls for a revolutionary approach in insurance to better protect corporations and governments. Catastrophe and man-made disasters are increasing year on year under demographic pressure & climate change. At Descartes, we seek to help clients become more resilient, not just insure them. Resilience is greater than just protection; we aim to meet the evolving needs in our complex world by giving clients the ability and strength to quickly bounce back – empowering them to cope with climate change. HOW WE WORK Traditional insurance products are often not transparent, expensive, and with a slow claims process. At the forefront of AI for risk modeling, we challenge the status quo. We apply new technologies such as image recognition or machine learning combined with new generations of data sources, coming from satellites or IoT, to assess and manage risks. This makes our products fairer, since all pricing and underwriting is based on advanced data, faster and more accurate at paying claims. Our approach is parametric - clients know exactly which event triggers what payment. WHO WE ARE Descartes Underwriting is a MGA working only with brokers. We underwrite insurance policies on behalf of a selected number of first-tier insurers, reinsurers, and Insurance-Linked Securities funds. We have the capacity to underwrite $75 million per deal (up to $200M) and thanks to our partners, our span is global, with a special focus on serving U.S. business. Founded in the heart of Paris’ business district in 2018, we are proud to be a forward-looking, multicultural team of over 200 employees. We are backed by international risk carriers and financed with $141.5 million by BlackFin, Serena, Cathay, Highland Europe and Eurazeo.
- Website
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https://descartesunderwriting.com/?utm_campaign=Organic%20linkedin&utm_source=linkedin&utm_medium=social&utm_content=LinkedIn%20mainpage
External link for Descartes Underwriting
- Industry
- Insurance
- Company size
- 201-500 employees
- Headquarters
- Paris, Île-de-France
- Type
- Privately Held
- Founded
- 2018
- Specialties
- Insurance, Risk management, Weather risk, Managing General Agency, Insurance Linked Securities, Satellite, Remote sensing technologies, NatCat, Climate change, IoT, Data-driven, Non-life Insurance, Catastrophes, image recognition, custom-tailored, data science, InsurTech, climate risks, parametric , and parametricinsurance
Locations
Employees at Descartes Underwriting
Updates
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Weather hazards pose significant challenges to the energy sector, from disrupted supply chains to damaged infrastructure. Understanding these risks and implementing innovative parametric solutions is crucial for resilience and sustainability. Discover how advanced modeling, real-time data, and tailored insurance solutions can mitigate these impacts and secure your operations. Explore our newsletter today and reach out to our sales team to learn more. #DescartesUnderwriting #ParametricInsurance
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Public entities face the immense challenge of safeguarding communities and maintaining infrastructure amidst increasing natural disasters. Traditional insurance often falls short of addressing the unique and immediate needs of public institutions. Parametric insurance provides swift recovery whether it’s municipalities in need of a financial safety net, educational services hoping to remain open, or public utilities sustaining operations amidst catastrophic events. To learn more how Descartes can directly serve public entities, please visit: https://lnkd.in/enWns62D #DescartesUnderwriting #ParametricInsurance
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How Can Parametric Drought Insurance Transform Agriculture Businesses Globally? Drought poses a significant threat to agricultural productivity worldwide. Discover how parametric drought insurance can provide a robust safety net for farmers and agribusinesses facing these challenges. Download our comprehensive white paper to explore: -The rising threat of drought and its impact on crop yields -In-depth case studies showcasing our innovative solutions [Download Now] https://lnkd.in/gEayDXz2
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How can #ParametricInsurance help institutions become more resilient to the impacts of climate change? Find out from Lindelwe Lesley Ndlovu, CEO of African Risk Capacity Ltd., as he explains how our innovative parametric policies, developed in partnership with Generali Global Corporate & Commercial, provide vital support to businesses and communities facing climate-related challenges. Hint: it’s because claims can be paid to clients within 5 days of an event occurring. Watch here: https://lnkd.in/dqscYWM6
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Our Commercial Director for UK & Ireland, Matthew James, will be featured on an upcoming podcast organized by The Insurer titled "Will Parametric Insurance Remain Relevant in a Soft Market?" Matthew will dive into: 🔹 How the hard property insurance market has driven the recent growth in parametric risk transfer 🔹 Current applications of parametric insurance for corporations and the public sector 🔹 The potential impact of a future soft market: opportunities and challenges for parametric coverage providers 🔹 Innovations in parametric insurance products Don't miss this insightful discussion! Check out the podcast details here: https://lnkd.in/gMUYnA2c #ParametricInsurance #DescartesUnderwriting
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Descartes has been awarded with Initiative of the Year from the Managing General Agents’ Association (MGAA), the largest MGA association in the UK! Our winning initiative focused on an innovative product designed to protect vulnerable assets in coastal regions from large waves. These waves cause significant damage even without the presence of a tsunami or cyclone, and this type of protection is not available in the traditional insurance market. This recognition underscores the endless possibilities of #ParametricInsurance and the groundbreaking covers we are capable of! Thank you, MGAA!
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Descartes Underwriting reposted this
Last week at the WCEE2024, in Milan, I had the pleasure of participating in the panel session organized by GEM Foundation and Aon. It was a very interesting opportunity to discuss the attractiveness of the insurance industry and the key role of insurance in business resilience. Thanks to John Frederick Schneider, Goran Trendafiloski, all the panelists and participants for the fruitful discussion. It is always a pleasure to network and share insights with colleagues and enthusiasts. #DescartesUnderwriting #ParametricInsurance #WCEE2024
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Descartes Underwriting reposted this
Business Development | Parametric Insurance | Climate Change | Alternative Risk Transfer
Happy to be attending the 20th Asia Nat CAT and Climate Change Summit 2024 here in Manila organised by Asia Insurance Review. Heartened to see the various stakeholders from government to regulator to the private industry coming together to exchange ideas on building resilience to manage climate risk. Parametric solutions and insurance can play a pivotal role as mentioned by many of the speakers today. Excited to be part of this phase of supporting the adoption of parametric solutions here in the Philippines. Descartes Underwriting Asia Insurance Review #DescartesUnderwriting #ParametricInsurance
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Our CEO & Co-Founder, Tanguy Touffut, recently joined Mark Geoghegan on The Voice of Insurance Podcast. During their conversation, Tanguy delved into: •The applications of AI in the workplace and insurance. •The rising trend of parametric products becoming essential tools for brokers and commercial risk managers. •His vision for how strategic parametric solutions are and will continue to revolutionize the insurance industry. Don't miss out on this insightful discussion! Tune in now to hear Tanguy's transformative ideas and industry insights: Listen on Podbean: https://lnkd.in/g6iKGihZ Also available on Spotify: https://lnkd.in/gZgKZkFi
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