Descartes Insurance hires Hélène Martin to support Credit & Political Risk expansion

Descartes Insurance, the risk-carrying subsidiary of Descartes, a specialist in parametric insurance solutions, has expanded its offerings to corporate clients and public institutions to include Credit and Political Risk Insurance (CPRI), further diversifying its business.

To drive its expansion into this new line of business, Descartes has brought on Hélène Martin, previously Head of Single Risk, Credit & Political Risk, France, at Coface, to work alongside Benjamin Lambert, who has served as Descartes’ Senior CPRI Underwriting Manager since September 2024.

“Distributed through brokers, the new offering protects policyholders against political risks impacting foreign investments and counterparty credit risks,” Descartes explained.

It reportedly covers individual transactions for their full duration under a single contract, with the first policies already issued to clients in France.

Descartes Insurance CEO Kevin Dedieu commented, “This product combines our underwriters’ proven expertise with Descartes’ own data, and with new, technology-centred approaches to risk management.

“Given the growing impact of political and credit risks in our changing world, it provides timely support for brokers and their corporate clients, complementing the recent launch of our cyber and technical risk insurance offering, and our parametric products. It strengthens our position as a leading player in commercial insurance.”

Benjamin Lambert said, “Descartes’ ability to offer tailor-made solutions underpins our credit and political risk range.

“We benefit from synergies and complementarities with our climate expertise. I look forward to continuing to work with our broker partners to grow Descartes’ credit risk portfolio.”

In related news, Descartes last month introduced a fully customisable Flood-at-Location parametric flood insurance product for U.S. commercial clients.

Supported by in-depth flood modelling research and cutting-edge sensor technology, Descartes stated that the new offering redefines traditional flood insurance by providing more effective protection for businesses, investors, and homeowners associations.

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