Descartes Underwriting, the general management agency (MGA) focused on insurance technology (insurtech) specializing in parametric and data-driven risk transfer products, has recruited Daniel Vetter, who will lead the expansion of companies in North America.
Descartes announced in September an $ 18.5 million Series A funding round from leading global venture capitalists Serena, Cathay Innovation and BlackFin Capital Partners, with which he intends to expand the parametric insurance space.
Part of this is expanding its presence in key markets of the United States and North America, and Daniel Vetter has joined Descartes as North America Manager to lead this growth opportunity for the company.
Vetter most recently worked at Swiss Re Corporate Solutions, most recently as E&S Manager North America.
Vetter had been with Swiss Re Corporate Solutions for twelve years and reinsurance giant Swiss Re itself for seven years previously.
Prior to joining Swiss Re in 2000, Vetter spent almost six years as Vice President of Risk Underwriting and a member of the Board of Directors of Gerling America Insurance. His career began at Gerling in 1990, with a focus on the US market.
At Descartes, Vetter will be based in New York and will focus on setting up the U.S. operations of parametric risk transfer specialists, the company said.
Descartes called the decision “a huge milestone in our expansion in North America” and cited “more than 25 years of underwriting and leadership experience in the US non-life insurance market”.
“Under his leadership, we look forward to the upcoming launch of our US hub,” the company said.
Descartes reinforced his team after raising venture capital in September, with a few other recent hires in his data science division.
The company hired Fatma Moalla, Data Scientist with expertise in machine learning and computer vision and Abel Adary, also Data Scientist with research experience in computer science.