Descartes has been awarded managing general agent (MGA) of the year at the InsuranceERM UK & Europe Awards 2025, recognising its unparalleled focus on parametric insurance and its data-driven approach to climate and emerging risks.

"Where many MGAs and insurers look at parametrics in some capacity, Descartes was founded to focus entirely on parametric insurance and climate risk," a spokesperson for Descartes stated. "It was designed and organised to serve this precise purpose."

This focus has allowed Descartes to develop a highly specialised team of over 200 professionals, including insurance experts, data specialists, software and AI experts, as well as scientists in fields such as physics, climatology and meteorology.

"Our high-growth trajectory, coupled with strong underwriting discipline, enables us to collaborate with a panel of tier-one risk carriers," the spokesperson adds.

This allows the company to provide transparent policies, fast claims and financial resilience for clients, thereby avoiding the uncertainty seen in traditional insurance markets.

Looking ahead, Descartes is focused on ambitious growth plans. "Building on our $200m gross written premiums (GWP) in 2024, Descartes aims to achieve a mid-term target of $500 million GWP," the spokesperson says.

This growth will be driven by expanding its product range with new and innovative parametric products including climate and cyber.

Descartes also hopes to grow its client base across diverse geographies and industries, opening more offices, with a focus on the USA.

With its cutting-edge approach to risk management and continued global expansion, Descartes remains at the forefront of innovation in parametric insurance.