Descartes Underwriting, an insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, has launched a new office in Germany as it looks to expand its parametric coverage across the DACH region.
The new Frankfurt office will look to drive collaboration with DACH-based brokers and clients, as Descartes seeks to expand its parametric offering to markets throughout Germany, Austria, and Switzerland.
To lead this growth, the company has hired Mario Tucholke as Commercial Director, DACH. He assumes oversight of the expansion of operations and Descartes’ parametric offering to both corporate and public entities in climate-exposed markets across the region.
Tucholke brings more than two decades of regional insurance industry experience to the firm, most recently serving as Head of P&C Sales and Business Development at Gothaer. Earlier in his career, Tucholke served as a Managing Director, COO, and CPO at SÜDVERS, having previously held the role of COO Baden-Badener Versicherung AG at Zurich Insurance Group.
On his new role, Tucholke said, “Beyond sustained global demand for capacity, the societal and business impacts of climate change call for the insurance industry to adjust course, offering new forms of coverage that mitigate global warming and support adaptive and recovery efforts.
“I fully share Descartes’ vision to support brokers, corporates, institutions & associations, as well as governments and municipalities, through transparent, data-driven insurance products. In today, & tomorrow’s, evolving market environment, exposures to natural catastrophes, weather, and emerging risks are on the rise. I look forward to providing much needed parametric covers against the financial consequences of climate change, together with Descartes’ global team.”
Violaine Raybaud, Global Head of Business Development, said, “Given its economy and international strength, the DACH region, and Germany in particular, represents an important, key market for Descartes. We are very pleased that Mario will join us as of 1st September and be based in the Rhein-Main Area. Besides further expanding Descartes’ network, he will also focus on building out our DACH operations.”
While Tanguy Touffut, Descartes’ CEO & Co-founder, noted, “Following our Series B in January, and our market launches in Latin America and Iberia last month, as well as the UK & Ireland late last year – expanding Descartes’ regional footprint into the DACH region is another huge milestone for us. We look forward to being closely connected to brokers and clients, offering parametric covers designed to their dedicated needs.”
Back in January, Descartes, which was launched in 2019, raised $120 million in a Series B funding round, which provided the firm with significant growth capital and runway to execute on it.
A month later, the company announced a partnership with Reask, a climate analytics and data company that uses machine learning techniques, to expand Descartes underwriting footprint for writing tropical cyclone, hurricane and typhoon covers around the world.