PARIS –October 28, 2025. Descartes Underwriting, world leader in corporate parametric re/insurance for natural perils and emerging risks, has joined the International Cooperative and Mutual Insurance Federation (ICMIF) as a Supporting Member of the global network. Descartes is delighted to partner with values-led insurers from across the globe and expertise to find together solutions in the face of climate change.
Re/insurance must be reinvented to meet the rising climate challenge, since the gap between insured losses and actual damage is increasing each year. In 2024, global natural disasters caused estimated economic losses of $368 billion, but nearly two thirds of this loss was uninsured. It is abundantly clear that a new approach to insurance is needed.
Descartes possesses unparalleled technological and climate expertise embodied in the industry’s largest climate risk modelling team. They continuously develop and refine proprietary algorithms that deploy physics and artificial intelligence to incorporate the effects of climate change and emerging technological exposures into the modelling of complex climate risks, to provide insurance companies with parametric reinsurance protection.
Sébastien Piguet, Co-founder and Chief Insurance Officer of Descartes, said: “We are excited to join the ICMIF. We collaborate daily with brokers and insurers around the world to create effective, economic coverage backed by science and technology. ICMIF is an extraordinary platform to extend our reach to organisations that share our vision of this new way forward.”
Liz Green, Chief Executive Officer of ICMIF, added: “We are delighted to welcome Descartes as a new Supporting Member of the Federation. Mutual and cooperative insurers, with their unwavering focus on positive outcomes for insureds, are open to innovative solutions that deliver for their members. Descartes’ take on insurance and their expertise in reinsurance will undoubtedly benefit ICMIF members through purposeful conversation and added value.”
