Funding boost for parametric insurtech as traditional market enters ‘existential crisis’

Tanguy Touffut, CEO and co-founder of Paris-based insurtech company Descartes Underwriting, said non-life insurance is going through an “existential crisis” because of climate change and the Covid-19 pandemic, and has raised further capital to expand its alternative offering for corporations struggling to find adequate traditional coverage. Descartes, which specialises in climate risk modelling and data-driven risk transfer , announced this…

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