Descartes, a world leader in corporate parametric insurance solutions for climate and emerging risks, today announces the appointment of Francisco Javier Herrera Escalante as Country Manager, Mexico, to lead Descartes’ expansion there and throughout Latin America, from a new Descartes office in Mexico City.
Inquiries from brokers and corporate clients for parametric support in Latin America – particularly for agriculture, tropical cyclone, renewable energy and earthquake covers – have been increasing steadily over the past few years. Descartes’ first office in the LatAm region will meet this demand with Francisco’s local market knowledge, coupled with Descartes’ forward-thinking, tech-driven approach to crafting parametric insurance products and customer-focused service.
With more than 20 years of experience in Mexico’s insurance sector, Francisco – an Actuary by training – brings a wealth of expertise and local market know-how to Descartes and will oversee the new Mexico City office. Furthermore, he is also tasked with the continued development of Descartes’ broker network in the broader LatAm region. Prior to joining Descartes, Francisco was the General Manager at the reinsurance broker Crest and held management roles in global insurance and brokerage companies such as CHUBB and Marsh.
Raul Revilla, Commercial Director, Latin America for Descartes Underwriting, who Francisco will be reporting to, said: “I am confident Francisco’s expertise and experience will help accelerate our growth ambitions in this important region by expanding on our local broking relationships and fine-tuning our parametric offering to the needs of clients in the region.
Daniel Vetter, Descartes’ Head of the Americas, said: “We’re excited to be expanding Descartes’ reach further into Latin America with the establishment of an office in Mexico City. Francisco’s market expertise and existing client and broker relationships will be instrumental in continuing to build out our platform in the region.”
Francisco Herrera said: “I am delighted to join Descartes, a dynamic company with a unique, data-driven approach that will continue to deliver added value by delivering innovative parametric solutions to brokers and clients in Mexico and Latin America.”
About Descartes
Descartes is a global corporate insurer that collaborates with brokers to protect their corporate and public sector clients against climate, cyber and other emerging risks. At the forefront of AI and Data analysis, Descartes utilizes cutting-edge technology combined with a new generation of data sources, to model, assess and manage risks.
Offering a full range of insurance products, including cost-effective and fully transparent parametric solutions with predefined and swift claims payouts, Descartes has already provided over $10 billion capacity to its clients through corporate brokers.
With a global footprint and strong U.S. presence, Descartes serves a diverse portfolio of clients in more than 60 countries, with 17 offices spread across Europe, Asia-Pacific, Latin & North America.
The Descartes group comprises Descartes Insurance, a full-stack insurer operating in several European countries, and Descartes Underwriting, a global MGA backed by a panel of tier-one risk carriers. The company has been financed with over $141M by investors including Highland Europe, BlackFin, Serena, Cathay and Eurazeo.
