Descartes Underwriting, a French parametric insurance provider, announced the launch of Descartes Insurance, a full-stack insurer with a license to underwrite risk authorized by the French Regulator (ACPR).

Descartes Insurance will issue policies directly to mid-market clients in France, with plans to expand its geographical footprint across the European Economic Area (EEA) through 2023.  

Descartes Insurance will provide coverage and capacity to a wide range of clients, nevertheless, Descartes Underwriting will cater to corporate clients and their existing portfolios and continue to operate as a Managing General Agent among its existing partners. 

Descartes Insurance will be more aligned and responsive to customer needs with a shorter value chain and increased flexibility. The new entity will include additional risk exposures, emerging risks, and product lines to its existing insurance portfolio.