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Descartes Underwriting, a data-driven risk transfer specialist managing general agency (MGA) and insurer with a parametric focus, has launched a Strategy & New Business Division with two key hires, as the company looks to expand the scope of its scientific underwriting offering.

Descartes’ Strategy & New Business Division has been established so the company can explore potential opportunities for development and diversification using its unique underwriting model, that leverages artificial intelligence (AI) and data analysis to model, assess and manage risks.

The goal is to extend Descartes’ underwriting approach into new risk classes.

Cyril Blin has been hired as the Principal Underwriter, Technical Risks. He spent the past 19 years at insurer AXA France as a Technical Risks Expert Underwriter and the firm’s national referent for machinery breakdown, construction equipment, and affinity insurance. Prior to that, Blin spent seven years in underwriting roles at French commercial insurer Albingia and brings experience underwriting a wide spectrum of engineering risks to Descartes.

Benjamin Lambert has been hired as Senior Credit Underwriting Manager, Credit & Political Risk Insurance (Single Risk), joining Descartes from Coface, where he spent almost eight years underwriting global large credit risks and became that carrier’s Deputy Head of Credit and Political Risk Insurance.

Descartes said that the new appointments will help to fulfil its ambition to innovate on a new generation of corporate insurance products.

Tanguy Touffut, co-founder and CEO of Descartes, commented, “Cyril and Benjamin’s extensive specialty insurance experience adds invaluable expertise to Descartes’ unique corporate insurance modeling and pricing approach.

“It will enable us to develop innovative products and deliver greater value to our clients, giving them the best of both worlds: traditional insurance and risk knowledge, alongside our market-leading scientific approach to underwriting.”

Descartes launches new division to expand scope of offerings, including parametrics was published by: www.Artemis.bm
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CatX, a digital catastrophe and parametric risk exchange start-up, has announced an important hire for the company, bringing onboard experienced London-based reinsurance and retrocession broker Jon Wood to become the firm’s first Head of Origination.

CatX’s ambition is to provide a flow of risks to insurance-linked securities (ILS) investors through its digital platform.

Wood’s experience in the industry-loss warranty (ILW) space could prove beneficial here, with this being likely the main structure a platform can quickly gain traction in, given its relative lack of complexity compared to indemnity structures.

The company said, “This strategic hire underscores CatX’s commitment to broadening its market reach ahead of the upcoming January renewals, as the company targets a significant increase in transaction volume particularly in parametric, Industry Loss Warranties (ILW), and specialty reinsurance.”

Wood most recently served on the Retrocession leadership team at Aon’s Reinsurance Solutions.

At Aon, Wood helped shape and execute the broker’s global strategy, driving high-value transactions across the international reinsurance market.

Before his time at Aon, Wood held senior positions at leading reinsurance brokers Willis Re and Guy Carpenter.

Given his retrocession focus at his most recent permanent role at Aon, Wood has experience placing risks into both traditional reinsurance markets and alternative capital markets, or insurance-linked securities (ILS).

Since leaving Aon in September 2023, Wood has been consulting to European reinsurer VIG Re on retrocession and reinsurance.

Benedict Altier, Co-Founder and CEO of CatX, said on the hire, “We are thrilled to welcome Jon to the CatX team. His appointment comes at a pivotal moment, as interest from new capital sources for opportunities in the insurance space continues to grow. Jon’s leadership will be key in driving our strategy and helping us to better connect risk with new capital.”

Jon Wood, newly appointed Head of Origination, added, “CatX has created a unique digital platform to efficiently connect high-quality capital with leading (re)insurance risk. I am excited to be part of the team as we make insurance a frictionless, straightforward, and accessible asset class for investors while delivering pricing and process efficiency to brokers and insurers accessing new sources of capital.”

Lucas Schneider, Co-Founder and CTO of CatX, also said, “With over 20 years in the industry, Jon will help us to secure attractive opportunities for our funds and accelerate the flow of alternative capital into insurance. We aim to provide access not only to innovative technology, such as our AI-powered tool Catamaran, but also to leading experts in structuring and executing insurance transactions. This powerful combination allows us to deliver exceptional outcomes for investors while ensuring comprehensive risk protection.”

At CatX, Wood will be tasked with supporting reinsurance, retrocession, and global corporate broking teams to make best use of the capital available through the CatX platform, creating opportunities that align investor interests with the risk management needs of insurers and corporates.

CatX hires London-based reinsurance & retro broking specialist Jon Wood was published by: www.Artemis.bm
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