Arbol reports $70m GWP for 2021

Arbol, which launched a “Captive+Parametric” solution last August, has reported $70 million in gross written premiums in 2021, up from $2.2m in 2020. It also said the loss ratio was under 50% on the capacity for transacted deals.

“We created Arbol to make it easy and efficient for businesses of any size or location to build climate resilience,” said Arbol founder and CEO Siddhartha Jha.

“Over 50 per cent 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.”

Arbol enables corporations to transfer climate risks into captives using a parametric structure, giving access to it its full suite of technology and data tools. Corporations have access to more than 1,000 terabytes of standardised and cleaned climate data, forecasts, and models through its Climate data platform. Online structuring and pricing tools allow corporations to select the risks their businesses are facing, while Arbol’s proprietary pricing platform offers a range of coverage options and pricing to choose from.

“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,” said Jha.