Paris-based insurance startup Descartes Underwriting has raised an $18.5 million funding round led by Cathay Innovation. Founded in 2018, the company will use the fresh funding to expand into the US and Asia.
Descartes, founded in 2018, specializes in climate change-related insurance protections, specifically parametric insurance, which covers the probability of a predefined event happening instead of indemnifying actual loss incurred. It's traditionally found in sectors like agriculture and energy where extreme-weather events are increasingly frequent but is moving beyond these, according to Descartes cofounder and CEO Tanguy Touffut.
"We've been looking at how climate change is impacting business and didn't see the tech or experience to become a relevant player in the insurance space until we came across Descartes," Jacky Abitbol, partner at Cathay Innovation said. "Big corporates have been insuring against climate change already but Descartes provides more transparency and the terms are clear, meaning payments can be triggered instantly.
Yet another corrupt Ponzi scam!
This is ridiculous. Insurance is the one of the real cancers in this world. And seriously an insurance policy on Climate Change?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the secret club that helps determine which healthcare startups blow up - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. bielinko
Source: BusinessInsider - 🏆 729. / 51 Read more »
Pitch deck: How Humanity, a healthtech app, raised a $2.5m seed round - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Google invested in WhereIsMyTransport after seeing this pitch deck - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Are you NEW to FOREX? Minimize your losses with my expert strategy with an investment capital of $300, i can guarantee $3,500 as profits after 5days of investment without sending money to anyone . Inbox me if interested.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Mollie: Dutch payments unicorn startup raises $106m from VC fund TCV - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Who to hire and when: CEO of Skillshare, which just raised $66 million - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Interesting Check out my Gig on Fiverr: I will make 3d logo animation videos
Source: BusinessInsider - 🏆 729. / 51 Read more »
European enterprise investor Dawn Capital raises $400 million - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »