What We Offer At A Glance
per contract, up to $200M
from climate to cyber risks for any asset
20+ offices across 10 countries
“In 2024, global natural disasters caused billions in economic losses, yet 60% of such losses were uninsured, resulting in a significant protection gap. We are dedicated to closing that growing gap, providing cost-efficient coverage, ranging from natural catastrophes and extreme weather events to emerging risks.”
Tanguy Touffut, Co-founder and CEO of Descartes Underwriting
Our Founding Story: Climate Challenges Call for a Parametric Approach
A New Model for a New Reality
Founded in 2019 by insurance veterans and climate scientists, Descartes Underwriting emerged to fill a gap left by traditional insurers retreating from high-risk regions as climate change intensified.
Smarter Insurance Through Technology
We believe insurance should be faster, clearer, and more reliable. That’s why we use AI, satellite imagery, and IoT to deliver cost-efficient parametric coverage with automatic, predefined payouts.
Expanding What’s Insurable
We use advanced technologies to model complex phenomena and measure their real-world impact. With better risk visibility, we can push the boundaries of what’s insurable—even in the face of increasing catastrophe frequency and severity.
From Climate to Emerging Risks
We began with a focus on climate resilience. Today, we're applying the same science-led, tech-powered approach to emerging risks—helping corporates and public organizations navigate a broader range of threats, with tailored parametric solutions.
Our primary focus is parametric insurance—built around objective, predefined triggers to deliver faster and clearer protection.
Meet The Founders
Descartes was founded by three seasoned insurance experts driven by the conviction that climate change calls for a revolutionary approach in insurance to better protect corporations and governments.
Tanguy has extensive experience in the insurance industry. He began his career at Oliver Wyman Financial Services as a Project Manager specializing in banking and insurance, working in a dozen countries across Europe, North America and Africa. In 2010, Tanguy joined AXA Global PNC as Head of Global Property and Casualty Strategy, before moving to AXA Corporate Solutions in 2013 as Head of Parametric Insurance and Agriculture, and subsequently CEO and Founder of AXA Global Parametrics).
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Sébastien Piguet serves as Chief Insurance Officer at Descartes Underwriting, the group's MGA. He oversees a team of underwriters and business developers, whose close collaboration accelerates the profitable growth of the portfolio. He also spearheads the company’s innovative approach to understanding and underwriting corporate exposures amidst a changing climate and risk landscape. Before co-founding Descartes Underwriting in 2018, Sébastien held several positions at AXA Corporate Solutions and AXA Global Parametrics, where he led data science, underwriting, business development, and parametric initiatives.
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Co-founder & Chief Scientific Officer
– Descartes Underwriting
Chief Executive Officer
- Descartes Insurance
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Kevin Dedieu leads technological functions at Descartes, encompassing data science, research, and product development. His goal is to find the best applications of AI-related technologies and provide corporate insurance coverage that is unparalleled in the industry. Before co-founding Descartes, Kevin served as an Underwriter and Product Manager at AXA Global Parametrics, specializing in energy, weather, and natural catastrophes products. He previously held roles in business development, natural catastrophe modeling, and actuarial positions at AXA Corporate Solutions.
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Bringing Financial Security to Various Industries
Insurance coverage designed to meet the specific needs of each industry we work with.
A range of parametric insurance products to help manage climate and emerging risks.
IndustriesSolutions
The Numbers That Define Us
GWP successfully underwritten in 2024
employees across the world
in-house experts in data science, risk models, and software engineering
corporates & public entities trust us
global offices across 10 countries
FAQ
What information do I need to get a quote?
To provide a quote, we require the insured location (address, GPS coordinates, or shapefiles), the perils to be covered, the desired risk period, the requested sum Insured, and details of any past losses from those perils, including associated loss amounts.
How fast can I get a quote?
Turnaround times vary depending on the peril. For tropical cyclone and earthquake, quotes can often be provided within a week. More complex solutions, such as flood, may take longer. We encourage brokers to reach out as early as possible to ensure the parametric structure complements the client’s traditional program and needs. Please note that quotes may go through several iterations, as parametric terms are often refined beyond the initial proposal.
How do payouts work?
First, the client notifies their broker and Descartes of a loss. Descartes collects the final data from the certification agent post event ensuring the most accurate level of information. Using the collected data, Descartes creates a report of the maximum monetary amount to be recovered as per the policy structure. Claims payment issued as defined within the policy, following receipt of a short Declaration of Loss statement.
Can parametric insurance be used alongside traditional insurance?
As natural catastrophe losses continue to rise, parametric insurance can complement traditional programs by addressing coverage gaps through buy-downs, top-ups, filling exclusions, and extending protection to cover full financial exposure, including non-damage business interruption (NDBI).
Do you cover SME clients or only large corporations?
We serve a wide range of public and private entities, from small businesses to large corporations. Since each policy is custom-designed by our team of underwriters and climate scientists, a minimum premium of $50,000 is usually applied.
In which countries or regions is coverage available?
We operate on a global scale, collaborating with more than 300 broker partners across the world.
Which perils does Descartes cover?
We provide coverage for a wide range of perils and for any industry sector, including but not limited to hurricanes (cyclones/typhoons), earthquakes, floods, renewable energy yield, hail, tornadoes, wildfires, agricultural yield, frost, excess rainfall, wave height, drought.
What kind of losses can Descartes cover?
Our solutions protect against both direct and indirect financial losses arising from natural catastrophes and extreme weather events, including third-party losses from investments and non-damage business interruption.
Contact Us
Whether you're quoting a complex risk, looking to break into new markets, or just curious about parametric insurance, our team is here to help you win. Reach out and we will get back to you within 48 hours.
