About Descartes Underwriting

Descartes Underwriting utilizes advanced climate risk modeling and parametric insurance solutions to provide rapid, event-based payouts for businesses facing climate-related risks. By leveraging data-driven technology and objective parameters, the company addresses the protection gap in insurance coverage, ensuring clients receive timely compensation without the need for on-site loss adjustments.

```xml <problem> Businesses face increasing financial risks from climate-related events, yet traditional insurance often fails to provide adequate coverage due to slow payouts and the need for on-site loss adjustments. This protection gap leaves companies vulnerable to significant financial losses and hinders their ability to recover quickly from events like hurricanes, droughts, and floods. </problem> <solution> Descartes Underwriting offers parametric insurance solutions that provide rapid, event-based payouts triggered by objective parameters, such as rainfall levels or wind speeds. By leveraging advanced climate risk modeling and data from sources like IoT sensors and satellite imagery, Descartes creates bespoke insurance policies tailored to specific client needs. These policies eliminate the need for on-site loss adjustments, ensuring that businesses receive timely compensation to cover direct and indirect expenses resulting from climate-related events. Descartes' approach provides valuable insurance capacity, even in high-risk regions, and complements existing insurance programs to create a more resilient future for clients. </solution> <features> - Parametric insurance policies triggered by predefined events and objective data parameters - Climate risk modeling using meteorology, climatology, physics, data science, and software engineering expertise - Data-driven technology leveraging IoT, satellite imagery, stationary sensors, radar, and third-party data - Machine learning and advanced algorithms to extract underwriting insights and model underlying climate phenomena - Bespoke payout structures tailored to specific client needs and risk exposures - Rapid indemnification without on-site loss adjustment, enabling quick access to capital - Coverage for a wide range of climate-related risks, including excessive rain, drought, floods, hail, and tropical cyclones </features> <target_audience> Descartes Underwriting serves corporate and public sector clients across various industries, including agriculture, construction, financial institutions, hospitality, manufacturing, renewable energy, and retail. </target_audience> ```

What does Descartes Underwriting do?

Where is Descartes Underwriting located?

Descartes Underwriting is based in Paris, France.

When was Descartes Underwriting founded?

Descartes Underwriting was founded in 2018.

How much funding has Descartes Underwriting raised?

Descartes Underwriting has raised 161260000.

Location

Paris, France

Founded

2018

Funding

161260000

Employees

207 employees

Major Investors

Highland Europe, Eurazeo

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Descartes Underwriting

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Executive Summary

descartesunderwriting.com 30K+

Crunchbase

Founded 2018 – Paris, France

Funding

Estimated Funding

$100M+

Major Investors

Highland Europe, Eurazeo

Team (100+)

No team information available.

Company Description

Problem

Businesses face increasing financial risks from climate-related events, yet traditional insurance often fails to provide adequate coverage due to slow payouts and the need for on-site loss adjustments. This protection gap leaves companies vulnerable to significant financial losses and hinders their ability to recover quickly from events like hurricanes, droughts, and floods.

Solution

Descartes Underwriting offers parametric insurance solutions that provide rapid, event-based payouts triggered by objective parameters, such as rainfall levels or wind speeds. By leveraging advanced climate risk modeling and data from sources like IoT sensors and satellite imagery, Descartes creates bespoke insurance policies tailored to specific client needs. These policies eliminate the need for on-site loss adjustments, ensuring that businesses receive timely compensation to cover direct and indirect expenses resulting from climate-related events. Descartes' approach provides valuable insurance capacity, even in high-risk regions, and complements existing insurance programs to create a more resilient future for clients.

Features

Parametric insurance policies triggered by predefined events and objective data parameters

Climate risk modeling using meteorology, climatology, physics, data science, and software engineering expertise

Data-driven technology leveraging IoT, satellite imagery, stationary sensors, radar, and third-party data

Machine learning and advanced algorithms to extract underwriting insights and model underlying climate phenomena

Bespoke payout structures tailored to specific client needs and risk exposures

Rapid indemnification without on-site loss adjustment, enabling quick access to capital

Coverage for a wide range of climate-related risks, including excessive rain, drought, floods, hail, and tropical cyclones

Target Audience

Descartes Underwriting serves corporate and public sector clients across various industries, including agriculture, construction, financial institutions, hospitality, manufacturing, renewable energy, and retail.