Descartes and Generali renew parametric insurance partnership

Parametric specialist Descartes Underwriting and Generali Global Corporate & Commercial (GC&C), the business of Generali Group that provides solutions and services to medium-large companies, have renewed their strategic partnership that sees the two firms develop parametric insurance solutions to actively respond to the evolving global risk landscape.

According to the announcement, the extended partnership comes in response to growing global demand for parametric insurance, and reinforces the partners’ shared objective to lead innovation, broaden market adoption, and create differentiated value for corporate and public-sector clients.

The two firms began their partnership in 2020, which saw the pair working together to introduce parametric insurance to a larger segment of the Generali client base across the countries in which it operates.

Descartes and Generali Global Corporate & Commercial also expanded their relationship in early 2025 by helping launch a parametric Twelve Capital insurance-linked securities (ILS) fund alongside Lumyna Investments to increase natural catastrophe capacity.

This extended collaboration between the two firms establishes a robust, long-term framework aimed at further enhancing the partners’ shared leadership position in the global parametric insurance sector and contributing to its future development.

In addition, the partnership integrates GC&C’s corporate insurance expertise, technical proficiency, portfolio management capabilities, global market access, and local insights with Descartes’ advanced risk modelling, climate analytics, technology, and data science capabilities.

Leveraging real-time data, satellite imagery, and advanced AI models, this enables Descartes and GC&C to provide customised parametric solutions that enhance traditional insurance programmes and existing risk transfer agreements.

“Their transparent, pre-agreed triggers enable significantly faster access to funds following an event, while supporting a more seamless customer experience through greater clarity and speed of claims payment,” both companies explained.

Tanguy Touffut, Co-Founder and CEO of Descartes, commented: “This partnership represents a truly symbiotic, enduring, and unique relationship in the corporate insurance industry, where technological innovation meets global financial strength.

“We are delighted and honored to solidify our long-term relationship with Generali Global Corporate & Commercial. Over the past seven years, we have built a thriving partnership that has established Descartes as a global leader in parametric (re)insurance. As corporate and public entities face unprecedented climate and emerging risks, our mission to provide reliable, rapid financial resilience has never been more vital.”

Touffut continued: “We look forward to delivering increasingly high quality, customized experiences to corporate clients. This renewal marks a continued era of shared growth, technological innovation, and unyielding commitment to our clients.”

Christian Kanu, CEO of Generali Global Corporate & Commercial, said: “The strengthening of our partnership with Descartes supports our long-term strategy and reflects the value we have created together over the years. By combining GC&C’s underwriting expertise, capacity, and global reach with Descartes’ specialised technology, data, and risk assessment capabilities, we have built a distinctive proposition that complements traditional insurance programmes and provides clients with greater transparency and faster access to funds.

Adding: “Our shared ambition is to further strengthen our leadership in parametric insurance and continue shaping the future development of this market. I am fully convinced that, together, we are making a significant contribution to narrowing the protection gap and enhancing resilience in the communities and regions most vulnerable to natural catastrophe risks.”