Descartes’ innovative edge stems from our ability to synchronize with the most recent data sources and extract risk insights using our in-house algorithms
Robust machine learning algorithms, image recognition techniques and cutting-edge statistical analysis methods enable us to perform underwriting derivations without compromising with the interpretability of our models. Our analytical tools are adapted to handle a wide range of data sources, including satellite imagery, IoT, stationary sensors, radar or sonar data.
Built from objective data sources, our models are precisely crafted to cover against climate and emerging risks where traditional underwriting methods fall short. Not limited to looking backwards at claim histories, we model the underlying phenomenon directly, capturing trends and climate change impacts to better protect corporate and public sector clients.
Our Approach
Descartes’ team probes and harnesses a plethora of datasets to best evaluate specific exposure attributes.
Our capacity to handle big data, integrate multiple source formats and apply cutting-edge statistical techniques, enables us to design the optimal insurance cover. Depending on the peril, we require certain information from the client, such as: GPS coordinates or shapefile of the location(s) to be insured, risk period, sum insured, or crop value to be covered.
Utilizing algorithms developed in-house, we model the underlying phenomenon of the exposure(s) to precisely quantify the risk of a given peril impacting a client’s business or supply chain. We build bespoke parametric protection that pushes the edge of insight and seamlessly extend time series to understand previously uninsurable climate risks. Based on the client’s risk appetite, we flexibly structure the pricing to provide the perfectly tailored parametric cover.
With the policy in place, we monitor how the parameters evolve in near-real-time using data from official government statistics, weather station data, satellite imagery, on-site sensors, and more.
If triggered, clients are notified and swiftly indemnified, often in a matter of days
True to our namesake, we cross-validate and integrate data sources and emerging technologies with an approach that is agile, methodical and unbiased – ultimately challenging the status quo of traditional insurance.
