“Mission and purpose is becoming crucial. We are living in a very anxious world. We see that climate change will be a big change for humanity”, says Tanguy.
The self-proclaimed insurance industry veteran shares his intrapreneurial journey with Oliver Wyman and AXA to co-founding Descartes Underwriting. Headquartered in Paris and with 12 offices across Europe, North America and APAC, the climate risk insurtech operates in 40 countries around the globe – helping protect clients against hailstorms, bushfires, floods, cyclones, droughts and heatwaves.
Having raised USD$120m in its Series B funding round, Tanguy highlights, “When you’re a start-up and backed by VC or private equity, you have more time to think about how the company may look like in 3,5,7 or 10 years.”
Tanguy clarifies how Descartes are competing with established industry incumbents and the benefits they provide to clients.
“If we just look at the corporate segments in the USA it takes an average of 550 days between the declaration of loss and claim payments. It's a very long and painful process, full of litigation. In our case we use external data sources and we make sure the policy is transparent and that we stick to claim payments within five working days.”
He discusses the challenges ahead for the industry and maintaining the firm’s cultural values with high growth plans across the globe, as well as the value insurance industry knowledge brings to the team.