Descartes Underwriting Revenue and Competitors

Our purpose We are on a mission to reinvent the entire non-life insurance sector. Catastrophe and man-made disaster losses are likely to increase every year due to demographic density and climate change. We believe that it is not just enough to insure people and enterprises against adverse weather conditions. Instead, we wish to help our clients to become more resilient. Resilience is greater than just protection; we aim to meet the changing needs in our complex world by giving our customers the ability and strength to quickly bounce back from adversity – ultimately empowering them to cope with climate change. How we work Traditional insurance products are often not transparent, expensive and despite the urgency, claims are processed slowly. Challenging the status quo, we apply new technologies such as image recognition or machine learning combined with new generations of data sources, coming from satellites or IoT, to assess and manage risks. This makes our products fairer since all pricing and underwriting is based on advanced data, it is faster and more accurate at paying claims. Our approach is parametric – meaning the client knows exactly which event triggers what payment. Being at the forefront of artificial intelligence for risk modeling, we are responsive enough to empower businesses to remain resilient. Who we are Descartes Underwriting is a Managing General Agency working only with brokers. In other terms, we underwrite insurance policies on behalf of a selected number of first-tier insurers, reinsurers, and Insurance-Linked Securities funds. We have the capacity to underwrite EUR 75 million per deal and our span is global thanks to our partners. Founded in the heart of Paris' business district in 2018, we are today proud to be a forward-looking and multicultural team of 25 people, to be backed by international risk carriers and financed with USD 21.5 million by BlackFin Capital Partners, Serena and Cathay Innovation.