Descartes’ Value Proposition
The future of insurance against a changing climate & risk landscape
Deep Understanding of Climate Risk
Our highly specialized teams, comprising experts in meteorology, climatology, physics, data science, and software engineering, are dedicated to understanding and modeling climate risks. By leveraging robust, data-driven technology, we employ a forward-looking perspective, pushing the boundaries of parametric insurance and challenging standard approaches to insurance.
Valuable Capacity and Premium Stability
In response to the growing protection gap, this new generation of insurance products offers valuable insurance capacity at reasonable premiums, even in highly exposed regions and for clients with a history of catastrophe losses. As a standalone cover or as a complement to existing policies, Descartes’ parametric solutions create a more resilient future for clients facing severe underinsurance or self-insurance.
Transparent Coverage and Swift Indemnification
We collaborate closely with clients and brokers to establish objective parameters and bespoke payout structures, eliminating ambiguity about when, how, and how much the policy will pay out. Plus, with the transparent compensation index, payments can be made quickly and with complete certainty, no longer requiring on-site loss adjustment and avoiding depreciation and inflation from delayed payments.
Financial Freedom
With flexible and bespoke solutions that pay out based on predefined triggering events, rather than actual incurred losses, insured clients enjoy full financial freedom to use the received capital for any direct or indirect expenses resulting from the event. Instead of meticulously proving and invoicing incurred damages over several months, a straightforward declaration of loss is sufficient to access the indemnity within days.
We empower corporate and public sector clients
Addressing the unique needs of diverse industries with our expanding range of parametric insurance products, we enhance the resilience of our clients to better withstand and adapt to emerging risks.
IndustriesSolutions
What is Parametric Insurance?
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Event-based coverage for climate & emerging risks
Parametric insurance is event-driven, meaning that it pays out when a predefined event occurs using an escalating payout structure. This approach eliminates on-site loss adjustment, reduces uncertainty, and expedites the claims process.
Complementary to insurance
As a complement to existing insurance programs or a standalone cover, parametric insurance expands coverage beyond physical assets to fill protection gaps left by indemnity insurance and reduce risk exposure.
Utilizing data at its core
Each parametric product has its index derived and back-tested from parameters made of various high-quality datasets and sources. By leveraging proprietary risk models employing advanced techniques, parametric insurance adds a new dimension to understanding the client’s risk exposure from a new data-driven and data-tested perspective.
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Understanding Global Weather Perils: Hurricane Risk The 2023 Atlantic hurricane season concluded Nov. 30, ranking fourth for the most named storms in a year, but falling short of the predicted above-average damage levels. Discover more -
Descartes is driving AI evolution in France Descartes’ founders Tanguy Touffut, Sebastien Piguet, and Kevin Dedieu are honored to be recognized by the President of the French Republic, Emmanuel Macron, for their contribution to driving AI evolution in France. Read more -
Argus d'Or dans la catégorie Risques d'entreprise pour Descartes Descartes a eu l’honneur de se voir décerner l'Argus d'Or dans la catégorie Risques d'entreprises ! Read more
Our technology
Descartes’ innovative edge stems from our ability to handle massive new data sources and apply proprietary algorithms that extract value for our clients. We utilize machine learning and advanced algorithms to unlock valuable underwriting insights from a wide range of sources, including IoT, satellite imagery, stationary sensors, radar and third party data.
Not limited to looking backwards at claims history, we model the underlying phenomenon directly, capturing trends and potential climate change impacts to better protect corporate and public sector clients.
Our case studies are all over the world
Utilizing Machine Learning and real-time monitoring from satellite imagery & IoT, our state-of-the-art technology helps businesses bounce back faster against climate, cyber and other emerging risks.
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