Born out of the conviction that climate change calls for a revolutionary approach in insurance to better protect corporations and governments, Descartes was founded in 2018 to change the industry status quo.
Around the world, Descartes Underwriting offers a new generation of parametric insurance that builds resilience against natural catastrophes & climate risks. Unlike traditional insurance, which relies on lengthy loss adjustment procedures, Descartes’ parametric products pay out when a predefined event (i.e. flood, cyclone, earthquake, etc.) occurs as measured by a specified parameter or index.
Descartes’ innovative edge stems from their ability to handle massive new data sources and apply proprietary algorithms that extract value for their clients. The team utilizes machine learning and advanced algorithms to unlock valuable underwriting insights from a wide range of sources, including IoT, satellite imagery, stationary sensors, radar and third party data. Not limited to looking backwards at claims history, they model the underlying phenomenon directly, capturing trends and potential climate change impacts to better protect corporate and public sector clients.
With employees from over 20 different nationalities to date, the team at Descartes Underwriting values diversity across multiple dimensions – cultural, cognitive, leadership & experience. Continuing to build a diverse multilingual and multicultural team is core to their value proposition, allowing them to think & build globally from the first iteration. Descartes seeks talents who share our collective fighting spirit and will add additional analytical perspectives & insights.
Headquartered in Paris, the company’s international footprint includes offices in New York, Singapore, Sydney & London - with continued office expansion planned for 2022.
Descartes by the numbers:
- International client base, building resilience with covers in 60+ countries
- More than 200 clients served
- Up to 200M USD capacity offered per contract
- 120M+ EUR raised with support from our European investors
- 20+ nationalities represented in a team of 70+ employees
- 8 office locations: Paris (HQ), New York, Houston, Denver, Atlanta, Singapore, Sydney & London