Descartes Underwriting Launches Full Stack Insurance Company

The Paris-based climate-risk focused MGA says the new entity will be able to provide cover and fresh capacity to a wider range of clients.

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Descartes Underwriting, a Paris-based MGA focused on climate risk insurance products, has launches Descartes Insurance, a full-stack insurer licensed to underwrite risk by the French Regulator (ACPR). The MGA reports that Descartes Insurance is backed by a panel of A-rated risk carriers, and is now able to issue policies directly to mid-market clients in France, with plans to expand to other countries in the European Economic Area (EEA) over the course of 2023, according to a statement from the company. Descartes Underwriting says it will continue to operate globally for corporate clients and its existing portfolio as a Managing General Agent in full continuation with its valued partners.

Tanguy Touffut, CEO and Co-founder, Descartes Underwriting.

Descartes characterizes the launch of the full-stack insurer as underscoring its mission to provide the best coverage against all of the risks associated with a shifting climate and risk landscape. The company says that, following a summer of exceptional drought, flooding and hail events across Europe, the new entity will be able to provide cover and fresh capacity to a wider range of clients. The advance also allows Descartes Insurance to become more tightly aligned and responsive to customer needs through a shortened value chain and the increased flexibility of Descartes suite of products and services, the company statement says. These, the statement adds, may now be expanded to include additional exposures, emerging risks, and product lines that create seamless insurance solutions issued alongside Descartes’ proven parametric structures. “For both Descartes Underwriting and Descartes Insurance, this milestone further strengthens the firm’s partnerships and commitment to providing best-in-class, responsive service and solutions to brokers and their clients,” the statement asserts.

“This is a huge step forward for Descartes but it also marks the evolution of the insurance sector and the way we protect customers,” says Tanguy Touffut, Descartes Underwriting’s CEO and Descartes Insurance’s non-executive chairman. “We seek to represent the next generation of risk transfer markets backed by industry leaders. By combining innovative insurance structures, powerful technology, and our own risk capital, we protect clients against the full spectrum of climate and emerging risks with unparalleled efficiency.”

Kevin Dedieu, Co-founder & Head of R&D, Descartes Underwriting.

Sébastien Piguet, Descartes Underwriting’s Chief Underwriting Officer, will serve as CEO of Descartes Insurance. Kevin Dedieu, Descartes Underwriting’s Chief R&D Officer, will take the role of Deputy CEO of Descartes Insurance.

“It is my firm belief that Descartes Insurance has all the resources needed to thrive in these challenging times, be it hard market conditions, the impact of climate change or the transition towards a net-zero economy,” comments Piguet. “I am elated to start this new journey as a full-stack risk carrier with the support of Descartes Group’s incredible team.”

Kevin Dedieu adds that he sees the launch of Descartes Insurance as “the logical next step given the continued investment in our scientific team, technology and R&D to revolutionize the entire insurance process, from risk assessment to claims payment.”

Philippe Rocard, Board Member, Descartes Insurance.

The parametric approach has opened a new frontier for insurance, in the view of Philippe Rocard, who has joined Descartes as an independent board member. “Descartes Underwriting is a front-runner in this new world,” Rocard opines. “It has developed impressive mathematical and physical knowledge to help corporations protect themselves against many perils including climate change.”

Innovation Driven by Novel Data Sources

“Since our creation, Descartes’ innovative edge stems from our ability to handle new data sources and extract value for our brokers and clients, comments Violaine Raybaud, COO, Descartes. We regard this milestone as a momentous opportunity to further infuse technology and Descartes’ science-driven, client-first approach within the core of our insurance operations.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at or (503) 936-2803.

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