Parametric insurance against climate risk
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To create a new generation of parametric solutions: fully transparent, customised to the client’s needs and providing swift claims payment.
Chaillot, Paris, France
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back within 2 weeks
56% employee growth in 12 months
COO of Otta
The corporate insurance market is undergoing a momentous shift driven by a changing climate, the growing impact of natural catastrophes, and a rise in emerging risks. Climate change has become a real risk to businesses - one Nature report, for example, found that the US alone could lose over $500 billion across 22 sectors if rising global temperature predictions materialise. The need for effective corporate insurance has never been higher.
Descartes Underwriting is looking to revolutionise how we approach insurance. Taking on one of the insurance industry’s traditional methods - catastrophe (CAT) risk modelling - Descartes is leveraging new data sources and fusing them with a host of AI algorithms. This provides what it describes as a “product offering which covers the full spectrum of natural catastrophes and emerging risk exposures.” Its AI-driven parametric insurance model is highly disruptive, and has proven highly successful - just a few years after its founding, Descartes had already become the leading InsurTech player worldwide.
Following major funding, Descartes is looking to scale up its approach to corporate and public entity risk exposures, growing its technology platform, expanding into new lines of business and targeting larger deals. With an existing client base spanning hundreds of corporationsincluding a host of Fortune 500 companies, Descartes looks set for big things in the coming years.
Last 2 fundraises
Previously Global Head of Parametric Insurance at AXA Corporate Solutions, then CEO of AXA Global Parametrics.
Sebastien Piguet(Chief Underwriting Officer)
Previously Head of On-Demand Insurance Products at AXA Global Parametrics.
Kevin Dedieu(Chief R&D Officer)
Previously a Senior Consultant at MPG Partners. Also a visiting lecturer at École Polytechnique.
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Descartes Underwriting is hiring for 12 jobs on Otta!
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