Parametric specialist Descartes re-orgs top team to accelerate growth

Descartes Underwriting, the parametric insurance and data-driven risk transfer specialist managing general agency (MGA) and insurer, has announced a re-organisation of some of its top executive team, as it sets out a platform for accelerated growth.

The data-driven parametric insurance and risk transfer specialist has also added new offices in the United States, to expand its presence in that key market, and is planning an ambitious hiring spree to take it from more than 200 employees to over 300 within a year.

The company has been growing steadily and now aims to accelerate that, having recently said it would expand its offering of parametric insurance and data-driven risk transfer solutions beyond natural catastrophe, weather and climate risks.

Key to any growth company in the insurance and reinsurance space is a strong leadership team and structure.

To that end, Descartes Underwriting is setting out a structure to support growth and a expanding team.

Tanguy Touffut, Co-founder and Chief Executive Officer, will continue to be responsible for the overall management of critical functions (operations, finance, strategy, human resources, and marketing & communications), and will focus on the drivers of future growth for the parametric specialist.

Sébastien Piguet, Co-founder and former Chief Underwriting Officer, has now been named Chief Insurance Officer of Descartes Underwriting.

In that role, Piquet will oversee the business development and underwriting teams, with a remit to accelerate the profitable growth of the parametric portfolio

As part of this, Piguet will leave his position as CEO of Descartes Insurance, the group’s insurance company.

Kevin Dedieu, Co-founder and former Chief R&D Officer, has been named Chief Scientific Officer of Descartes Underwriting, taking responsibility for all technology functions.

He will be charged with accelerating the implementation of additional artificial intelligence (AI) functionality in areas such as climate analysis and risk assessment.

On top of this, Dedieu will become Chief Executive Officer of Descartes Insurance, subject to regulatory confirmation.

Violaine Raybaud will remain as Chief Operating Officer of Descartes Underwriting, but also take on the role of Deputy CEO of Descartes Insurance, subject to regulatory approval.

Daniel Vetter, Descartes’ current Head of North America, will become the Head of the Americas, to additionally oversee operations in Latin America for the company.

The restructured leadership team will be supported by a number of new Heads of Departments.

Marie Chabal Filleteau is named Chief People Officer, effective August 26th 2024, following 4 years at Doctolib and more than 10 at consultancy BCG.

Eric Allombert has been appointed interim Chief Marketing & Communication Officer and brings four years experience as Marketing and Sales Director at AXA Partners, and five years at Wakam.

Matthew James is appointed Commercial Director, UK & Ireland, a previously announced move.

Louis Bollaert, the former Chief Revenue Officer is set to leave Descartes to take up a management position in the insurance broking sector.

Descartes has also launched new offices in Scottsdale, Arizona and Richmond, Virginia, to strengthen its US proposition.

This adds to a physical presence in LA and New York, plus Charlotte NC, Chicago IL, Denver CO, and Little Rock AK, bringing Descartes’ global footprint to 16 offices world-wide, including Europe, Asia, and Oceania.

Tanguy Touffut, co-founder and CEO of Descartes, commented, “Strengthening our presence in the United States is essential for the development of our Group and for consolidating our position as the world leader in parametric insurance. It will enable us to respond more effectively to the local needs of our broker partners, who are confronted with an increasing frequency of climatic and emerging risks.”