CEO
Descartes Underwriting
10/10Traction
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.
- Artificial Intelligence
- Data & Analytics
- Clean Technology
- Enterprise Software
- Financial Technology
- Software Only
Updated 22 months ago
Funding
Raised to date
$161.3MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
EurazeoNo round attributed
- Source unavailable
Highland EuropeNo round attributed
- highlandeurope.com (opens in a new tab)investor website
- Source unavailable
Mundi VenturesNo round attributed
- mundiventures.com (opens in a new tab)investor website
SeayaNo round attributed
- seaya.vc (opens in a new tab)investor website
Funding rounds are not available yet.
Founders
Product
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.
Target Audience
Descartes Underwriting serves corporate and public sector clients across various industries, including agriculture, construction, financial institutions, hospitality, manufacturing, renewable energy, and retail.
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