All material subject to strictly enforced copyright laws. © 2021 Insurance Insider is part of Euromoney Institutional Investor PLC.
Accessibility | Terms & Conditions | Privacy Policy | Modern Slavery Act | Cookies | Subscription Terms & Conditions

Descartes partners with flood data firm to extend parametric cover

Aerial drone view entire Neighborhood under water near Austin , Texas

Parametric specialist Descartes Underwriting has partnered with a flood monitoring firm to enhance its risk modelling.

The Paris-headquartered MGA has teamed up with ICEYE and intends to leverage the firm’s flood insights to establish precise parametric triggers for a larger global client base and make swift claims payments following a flood.

ICEYE uses satellites to provide insurance companies with a verifiable method of measuring flood depth globally.

Descartes said it would be able to extend parametric coverage to areas of the globe where data limitations had impeded previous coverage.

Head of underwriting at Descartes Sebastian Piguet said: “We consider access to accurate data, provided by an independent third party, to be a prerequisite for all parametric insurance contracts.

“We are thus delighted to partner with ICEYE to advance the frontier of parametric flood insurance and expand our offering to a wider geographic client-base based on ICEYE’s data.”

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree