Today, we are glad to announce our investment in Descartes Underwriting.
Descartes Underwriting is an insurtech startup (for the insurance-savvy, a Managing General Agent) working with (re)insurers and brokers to offer innovative and tech-based insurance products to businesses, across all sectors, including agriculture, hospitality, mining, construction, traditional and renewable energy, entertainment, retail, etc.
The company is based in Paris and run by Tanguy Touffut and its co-founders who have solid tech backgrounds and strong expertise in insurance and financial services. Prior to Descartes Underwriting, Tanguy worked at Oliver Wyman Financial Services and then at AXA where he was in charge of AXA Global Parametrics, a leading player in parametric insurance.
Descartes Underwriting leverages new data sources and masters complex models to offer new insurance products distributed through brokers. Most of their products offer a superior customer experience as claims payments are triggered in real-time or within a few days.
We, at BlackFin Tech, have been amazed by the expertise of the founders in this new field of insurance. Descartes Underwriting is well positioned to lead the current transformation of the insurance industry, taking advantage of a large amount of data, sensors and satellites to build stronger risk models, better claim management processes and ultimately more transparent insurance products that customers like.
With this €2m funding round, Descartes Underwriting is hiring top software developers, data scientists and actuaries to support its fast growth and global expansion.