Parametric specialist Descartes on Friday (28 June) announced changes in its leadership team, four key hires, and the opening of four new U.S. branches to support the business’s global expansion.
The Paris-headquartered insurer and managing general agent launched in 2018 and has quickly established a presence, gaining recognition for its climate and emerging risk parametric solutions. At the end of January, it expanded its offering to include cyber.
In a media release, Descartes said it will hire over 100 new employees in the next 12 months in order to drive its global expansion plans. To support this growth, the business announced key leadership changes, pending regulatory approval.
Tanguy Touffut, Co-founder and Chief Executive Officer, will focus on key drivers of the business’s future. He will oversee critical functions such as operations, finance, strategy, human resources, and marketing and communications.
Sébastien Piguet, Co-founder and former Chief Underwriting Officer, has been appointed Chief Insurance Officer of Descartes Underwriting. He will oversee business development and underwriting teams and aim to drive profitable growth through collaboration with broking partners. He will step down as CEO of Descartes Insurance.
Kevin Dedieu, Co-founder and former Chief R&D Officer, is now Chief Scientific Officer of Descartes Underwriting. Dedieu will lead all technology functions, focusing on integrating additional A.I. capabilities in climate analysis and risk assessment. He will also become the CEO of Descartes Insurance.
Violaine Raybaud will continue as Chief Operating Officer of Descartes Underwriting and will additionally become Deputy CEO of Descartes Insurance.
New hires
Descartes also announced the appointment of several highly experienced Heads of Departments to support the restructured leadership team.
Marie Chabal Filleteau will become Chief People Officer, effective 26 August 2024. Filleteau brings over 15 years of experience in talent development and corporate culture, including roles at Doctolib and BCG.
Eric Allombert has been named interim Chief Marketing & Communication Officer. Allombert has over 25 years of marketing experience, including roles at AXA Partners and Wakam.
Matthew James has been appointed Commercial Director for the U.K. and Ireland. James specialises in complex and emerging insurance products and has over 12 years of experience in parametric risk transfer, including a decade at WTW.
Descartes also announced that Louis Bollaert, previously Chief Revenue Officer, will leave to pursue a management position in the insurance brokerage sector.
Descartes also announced it would open new U.S. branches in Scottsdale, Arizona and Richmond, Virginia, bringing the total number of Descartes locations to 16, including key hubs in Hong Kong, Singapore, Sydney, and Tokyo.
With the new appointments, Descartes now employs over 200 people worldwide. Its commitment to hiring over 100 new employees in the next year underscores its ambition to scale its operations and meet increasing demand for its solutions.
In March, Ben Qin, Head of North-East Asia for Descartes Underwriting, spoke to (Re)in Asia about the potential for cyber parametric solutions in Asia Pacific (story below). He and other industry experts see significant potential for the region, however challenges remain for the region—including obtaining and interpreting reliable data.
