Reinsurance News

Arbol transacts $70mn in GWP in 2021

22nd February 2022 - Author: Katie Baker

InsurTech platform and FinTech company Arbol has reportedly transacted $70 million in gross written premiums in 2021, marking significant growth and traction for the Arbol platform, which in 2020 transacted $15 million in notional risk and $2.2 million in gross premium.

Highlighting Arbol’s focus on a sustainable business model, the company’s risk capacity had a loss ratio under 50% for transacted deals and it also ended the year cash flow positive.

The company’s pricing platform enables users to get live pricing directly through the app in a matter of minutes.

The platform used its climate data network, dClimate, blockchain technology and an AI underwriter designed to price risks efficiently to make parametric protection products and SaaS services accessible and affordable for traditionally underserved and underinsured regions and businesses.

Sid Jha, Founder and CEO, Arbol commented: “We created Arbol to make it easy and efficient for businesses of any size or location to build climate resilience.

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“Over 50 percent of Arbol’s clients in 2021 enrolled in climate risk coverage for the first time to reduce impact on revenues and supply chains.

“This demonstrates not only the urgent need for data-driven climate risk solutions, but just how many businesses and regions today are underserved by the traditional insurance industry.

“In addition to being able to cover smallholder farmers in underinsured regions like Cambodia for as little as $11 in premium, we are rapidly making parametric climate risk products more accessible, transparent, and user-friendly for historically underserved stakeholders.”

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