Descartes launches new division to expand scope of offerings, including parametrics

Descartes Underwriting, a data-driven risk transfer specialist managing general agency (MGA) and insurer with a parametric focus, has launched a Strategy & New Business Division with two key hires, as the company looks to expand the scope of its scientific underwriting offering.

Descartes’ Strategy & New Business Division has been established so the company can explore potential opportunities for development and diversification using its unique underwriting model, that leverages artificial intelligence (AI) and data analysis to model, assess and manage risks.

The goal is to extend Descartes’ underwriting approach into new risk classes.

Cyril Blin has been hired as the Principal Underwriter, Technical Risks. He spent the past 19 years at insurer AXA France as a Technical Risks Expert Underwriter and the firm’s national referent for machinery breakdown, construction equipment, and affinity insurance. Prior to that, Blin spent seven years in underwriting roles at French commercial insurer Albingia and brings experience underwriting a wide spectrum of engineering risks to Descartes.

Benjamin Lambert has been hired as Senior Credit Underwriting Manager, Credit & Political Risk Insurance (Single Risk), joining Descartes from Coface, where he spent almost eight years underwriting global large credit risks and became that carrier’s Deputy Head of Credit and Political Risk Insurance.

Descartes said that the new appointments will help to fulfil its ambition to innovate on a new generation of corporate insurance products.

Tanguy Touffut, co-founder and CEO of Descartes, commented, “Cyril and Benjamin’s extensive specialty insurance experience adds invaluable expertise to Descartes’ unique corporate insurance modeling and pricing approach.

“It will enable us to develop innovative products and deliver greater value to our clients, giving them the best of both worlds: traditional insurance and risk knowledge, alongside our market-leading scientific approach to underwriting.”