Draft:Descartes Underwriting
insurance company
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Descartes Underwriting is an insurance company founded in 2019 that provides parametric insurance products related to climate and cyber risks.
Submission declined on 4 November 2025 by Meadowlark (talk).
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Comment: Please read WP:NCORP for more information on the kind of information you need to show this company qualifies for a Wikipedia article. Currently the draft only discusses routine business activity. Meadowlark (talk) 02:24, 4 November 2025 (UTC)
- Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. NDrbs (talk) 07:12, 3 November 2025 (UTC)
History
Descartes Underwriting was founded in 2019 by Tanguy Touffut, a former director at a subsidiary of Axa focused on parametric insurance. It was created following major natural disasters such as Hurricanes Harvey, Irma, and Maria in 2017, which highlighted delays in compensation processes.[1][2]
In 2019, the company raised €2 million in seed funding from BlackFin Tech, a venture capital fund focused on financial technology.[1][3]
During the COVID-19 pandemic, demand for Descartes’ products increased as movement restrictions limited the ability to send loss adjusters on site.[4]
In January 2022, the company raised US$120 million in a Series B funding round led by Highland Europe and Eurazeo, with participation from other investors.[4][5][6] The fundraising took place amid increasing interest in startups seeking to develop new approaches within the insurance sector, as weather-related catastrophes became more frequent.[7]
In 2025, Battery Ventures invested in the company.[8][9]
Products
Descartes Underwriting has developed parametric insurance products covering natural disasters since 2019[4] and cyber incidents since 2024.[10] It uses satellite imagery, image recognition, and machine learning to assess damage and verify insurance triggers.[4][11] Payouts are automatic and based on predefined measurable thresholds rather than on assessments of actual losses. According to the Financial Times, this approach allows for faster payments but may lead to discrepancies between compensation and actual damage when the triggers are not met.[12]
The company primarily serves corporate clients, such as industrial and hotel groups.[1]
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