Descartes Underwriting has been selected to be a part of the French Tech Next40 class of 2022. Launched by the French government, the Next40 initiative aims to support the development of new tech players that respond to key global challenges, including climate change, and that have already reached a certain level of maturity. The French government announced that they would aim to nurture leading French companies to be included in CAC 40, France’s representative stock index, beyond simply discovering unicorns through the program.
As a leading InsureTech company specializing in climate risk modeling, Descartes Underwriting offers a new generation of parametric insurance that protects and builds resilience for corporates and governments against extreme weather events such as floods, droughts, wildfires, and cyclones. By leveraging a variety of data sources such as IoT, satellite imagery, and radar in machine learning algorithms to gather essential insights for underwriting, our parametric solutions provide a transparent, reliable, and rapid response – filling the gap between growing risks and the increasingly hard traditional insurance market.
Descartes Underwriting raised $120 million in Series B funding in January 2022, in a funding round led by growth equity firms Highland Europe and Eurazeo. We currently serve over 200 clients, including many Fortune 500 companies.
