Descartes Underwriting, a Paris-based managing general agent (MGA) focused on parametric insurance solutions, has appointed Matthew James as its new Commercial Director – UK & Ireland.
He will be taking over the role from Paul Jones, who is leaving Descartes after nearly three years to pursue other opportunities.
In his new role, James will lead development in London of Descartes’ new generation of parametric insurances that build resilience against natural risks.
Descartes co-founder and Chief Executive Tanguy Touffut, said: “We’re really excited to have attracted someone of Matthew’s experience and ingenuity as the new head of our London office.
“His experience working with clients as a broker, assessing their climate and insurance challenges then crafting parametric solutions, will bring a new perspective to our work. Our restated strategy remains to deliver strong growth in high-potential markets, and Descartes will continue to deliver, in London and around the world.”
He added: “I’d like to thank Paul for his contribution to our development over the years. His work, particularly in educating new brokers to the benefits of parametric and developing and distributing coverages for peak peril exposures, has been invaluable. I wish him every good fortune.”
James is joining Descartes after a decade with WTW, where he specialised in structuring novel parametric solutions designed to manage the weather-risk exposures of clients across various sectors. He also served a stint as Head of Business Development in London for OTT Risk, the parametric MGA.
Commenting on his appointment James said: “I am super-pleased to be joining Descartes. They are renowned as a leader in parametric insurance and I’ve followed their growth closely since their birth in 2018.
“The team of data scientists in Paris and London boasts some serious brains. Their depth of expertise and understanding of climate change’s impact on business is hard to beat. I look forward to working with this team at the cutting edge of parametric insurance, and alongside Ola Jacob and the rest of Descartes’ London team.”
