A World Leader in Corporate Parametric (Re)insurance Solutions
Descartes is a corporate (re)insurance specialist that collaborates with brokers to protect their corporate and public sector clients against climate and other emerging risks. At the forefront of AI and Data analysis, Descartes utilises cutting-edge technology combined with a new generation of data sources, to model, assess and manage risks.
Descartes was launched in 2019 driven by the conviction that climate change calls for a revolutionary approach in insurance to better protect corporations and governments. Its team’s achievements are driven by a clear mission: Building Resilience in a World at Risk.
Offering a full range of insurance products, including cost-effective and fully transparent parametric solutions with predefined and swift claims payouts, Descartes has already provided over USD 13 billion capacity to its clients through corporate brokers.
Descartes is comprised of Descartes Insurance, a full-stack insurer operating in several European countries, and Descartes Underwriting, a global MGA backed by a panel of tier-one risk carriers. With a global footprint and strong US presence, Descartes serves a diverse portfolio of 500+ clients in more than 60 countries, with 20+ offices spread across Europe, Asia-Pacific, Latin and North America.
Parametric Insurance: An innovative approach to Tech and Data
Descartes offers a new generation of parametric insurance: combining scientific & technological expertise with a parametric approach. Built by an international team of 150+ PhDs, risk modelers and software engineers and underwriters, our models help us envision the exact nature of each peril by capturing the underlying phenomenon, trends, and climate change impacts. Descartes’ innovative edge stems from our ability to integrate new data sources, including IoT, satellite imagery, stationary sensors, radar and third party data, and apply proprietary algorithms to unlock risk insights.
How parametric insurance works:
Parametric insurance pays out a pre-agreed indemnity when a pre-defined event occurs, as measured by a specified index (e.g., cyclones, measured by wind speed). When a triggering event occurs, clients swiftly receive insurance indemnity within a matter of days. As the policy is based on objective third-party data (e.g., wind speed), the payout process is both fast and transparent. Find out more about it in our comprehensive guidebook.
Contact
Maxime Deroubaix
Chief of Staff – CIO Office at Descartes
[email protected]
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