Arbol

Arbol is a parametric insurance platform focusing on weather risk. Insurance premiums are decided based on the location and weather parameters such as rain, wind, and water. The company’s marketplace leverages blockchain and smart contracts to maintain minimum operational costs by creating automated contracts. 

Arbols’ platform’s core focus involves agricultural weather risk transfer deals. The company also had plans to expand into new markets by offering parametric insurance products across the energy, leisure, maritime, and other industries. The company has secured a risk capacity of USD 1 billion to scale up its parametric product offerings. 

In April 2024, the company launched Lilypad Insurance , a new entity to cater to the insurance needs of homeowners and property owners located in coastal areas. The new company also plans to acquire Centauri Specialty Insurance Company and Centauri National Insurance Company.

Key customers and partnerships

In April 2020, Arbol acquired eWeatherRisk, a provider of weather risk transfer and weather hedging solutions, to utilize the latter’s solutions across Arbol’s weather risk platform. In October 2020, Arbol partnered with Global Parametrics, a risk management solutions provider, and Hannover Re, a reinsurance provider, to deploy a weather risk insurance pilot scheme, by utilizing Arbol’s technology. In January 2021, Arbol joined forces with Chainlink, a decentralized oracle network provider, to allow businesses and farmers to hedge weather risks through Arbol’s smart contracts on the Ethereum blockchain by integrating Chainlink’s data feeds. The company reportedly had 700+ institutional clients as of November 2022.

Funding and financials

The company’s most recent funding was in April 2024, when it raised USD 60 million in a Series A funding round co-led by Giant Ventures and Opera Tech Ventures. In January 2021, Arbol raised USD 7 million in a Series A funding round led by Mubadala Capital Ventures. The funds raised were utilized to scale up the geographical footprint of the Arbol platform.