BlackFin invests €2mn in launch of Descartes Underwriting insurtech - Reinsurance News
Summary
BlackFin Capital Partners has invested €2 million in the launch of Descartes Underwriting, a new B2B insurtech company based in Paris. Descartes functions as a Managing General Agency (MGA) and works with brokers to underwrite insurance policies on behalf of first-tier re/insurance and insurance-linked securities (ILS) funds. The firm designs innovative insurance covers using artificial intelligence and new data sources such as the Internet of Things (IoT), remote sensing technologies and third parties. “In today’s digital age, clients call for a fairer price, simplicity and immediate claims payment: all new insurance solutions – for businesses or individuals – should be designed accordingly,” he explained. BlackFin claims to be the largest fintech investment fund in Europe and is backed by re/insurers including Swiss Life, Securex Insurance and MACIF.