Descartes Underwriting, an insurtech focused on climate risk modelling and data-driven risk transfer, will be launching two offices in the Asia-Pacific region, expanding the reaches of its parametric cover.
Robert Drysdale has been appointed head of Southeast Asia and will oversee the Singapore office.
Drysdale brings 14 years’ experience of broking complex risks into the London and Asia-Pacific markets, most recently at Howden.
Ben Qin has been appointed as Head of North-East Asia and Australia, overseeing the Sydney, Australia office.
He brings 14 years’ experience structuring and placing innovative Alternative Risk Transfer (ART) solutions across Asia-Pacific, most recently at Marsh.
Together, both appointments will oversee the build-out of Descartes’ Asia-Pacific operations.
Robert Drysdale, Head of Southeast Asia commented: “We are proud to bring Descartes’ solutions closer to brokers and corporate clients. As a region, Asia-Pacific is more exposed to natural catastrophes and extreme weather events than others.
“From record breaking super typhoons Goni and Amphram in 2020, major hail events and bushfires in Australia, and tragic 1-in-1000 year flooding in China and India this summer – the rising incidence of severe weather throughout the region is compounded by climate change and is resulting in increased year-after-year losses.”
Ben Qin, Head of North-East Asia and ANZ, commented: “We are proud to bring Descartes’ solutions closer to brokers and corporate clients. As a region, Asia-Pacific is more exposed to natural catastrophes and extreme weather events than others.
“From record breaking super typhoons Goni and Amphram in 2020, major hail events and bushfires in Australia, and tragic 1-in-1000 year flooding in China and India this summer – the rising incidence of severe weather throughout the region is compounded by climate change and is resulting in increased year-after-year losses.
“Given this exposure and widening coverage gap, particularly in non-damage BI issues, with only 12% of the USD 102bn Nat Cat driven economic losses reportedly insured in 2020, we believe this is a good time to bring Descartes’ parametric value-proposition to Asia-Pacific.”
