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Arbol Inc. announced today that Hong Guo has joined the company as Executive Vice President and Chief Insurance Officer. He will lead all insurance related strategy and operations for the company. He brings nearly three decades of global (re)insurance experience to Arbol and most recently served as a managing director at the GC Securities division of Guy Carpenter.

“We are privileged to be able to add an experienced global (re)insurance executive of Hong’s caliber to the Arbol team,” said Sid Jha, Arbol’s founder and CEO. …

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Arbol Inc. announced today it has partnered with PURIS to back its Yield Coverage Program for dry peas. The program will be rolled out nationwide to all PURIS growers this year.

“We are excited that Arbol’s proprietary technology will power a program that will benefit growers throughout the country,” said John Coleman, Arbol’s Head of Structuring. “PURIS growers who sign up for Arbol backed Yield Coverage can now have peace of mind that their yields will be protected and that they will receive a rapid, effortless payout in the event of loss.”

“Our goal at PURIS has always been to…

By Sid Jha, Ben Andre, Philippe Heilberg, and Osho Jha

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Today, we are proud to introduce the world to dClimate, a decentralized marketplace where climate data, models, and forecasts are standardized, monetized, and distributed.

Who Is dClimate For?

Those of us living in developed nations might take the importance of accurate local weather forecasting for granted. The only reason to check the weather forecast in some locations is so that you can make personal preparations: Do I need to carry an umbrella today? Do I need a jacket? Snow boots? …

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We are excited to announce the world’s first live, in-production weather coverage product on the blockchain. It uses smart contracts and Chainlink oracles to provide anyone with an Internet connection access to blockchain-enforced weather coverage that immediately settles based on weather data. This completely changes the way businesses and farmers all over the world hedge risk, allowing them to safely expand their operations knowing they are fully covered against periods of unforeseen weather events.

By leveraging smart contracts on the Ethereum blockchain and Chainlink powered data feeds, we are able to offer weather coverage without all the downsides and inefficiencies…

By Sid Jha, Founder and CEO

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What sets Arbol apart from traditional insurers is that our weather risk platform is parametric. What does this mean? It means that contracts are paid out based on data as opposed to a subjective claims process where a human adjuster comes to your home or businesses to assess the damage. This is important because the subjectivity, loopholes, delays, and potential for fraud that are seen all too often with traditional insurers are eliminated for our clients. Once the threshold for loss in a contract is triggered by the applicable dataset an agreement is structured…

By Siddhartha Jha, CEO and Founder of Arbol

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This past Wednesday, Arbol was excited to announce a deal with blockchain company Chainlink that will allow us to offer our users a smart weather protection product for farmers and businesses.

This product is built on the foundation of blockchain technology and utilizes Arbol’s smart contracts along with decentralized weather data provided by Chainlink to offer users a product unlike any other on the market. At Arbol, our goal has always been to revolutionize the way that farmers and businesses hedge and build resilience against climate risks. Extreme weather or one bad…

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Credit: Victor J. Blue/Getty Images

The COVID-19 pandemic, a public health crisis unlike anything the world has seen in a century has devastated the balance of the global marketplace, sidelined millions of workers, and temporarily (or in some cases permanently) shuttered and handicapped once thriving commercial enterprises.

The global health crisis created a dystopian scenario unheard of in the modern history of the United States or the global manufacturing and retail economy: government-imposed shutdowns of the world’s major commercial markets. The effects of forced closures, travel restrictions, and mandatory quarantines have been felt in nearly every sector of the global economy.

As regular commercial travel…

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When we think historically of the most important component that goes into farming, many of us think of water — rainfall to be more specific. In fact, rainfall is so crucial to the farming process that ancient cultures would praise their gods for an abundant rainy season. While a low amount of rainfall can be dangerous, many do not consider the equally damaging threat of a flood.

Recently, flooding has been a major cause for concern in parts of the Midwest and Southeast US. While these floods have been leading to the destruction of infrastructure and more recently, fatalities, one…

By Ben Andre, CTO of Arbol

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A common question we receive about Arbol, and a common objection to blockchain applications in general is, “What about the Oracle Problem?”

For those who don’t know, the “oracle problem” is a common issue with blockchain apps whereby bulletproofness, trustlessness and unstopability are undermined by the lack of a secure data source, or “oracle.”

For blockchain applications where there is no external data source (for example, a dice game where the only oracle is random number generator) there is no oracle problem. …

In Part 1 of this series, we discussed the basics of parametric insurance. As a summary, parametric insurance relies on the use of data to pay damages rather than subjective assessment of the damage by an adjuster. A natural area of application of parametric insurance is weather insurance given the availability of vast troves of weather data over long periods of time. The use of data to pay damages instead of the painstaking and subjective process of using loss adjusters on the ground holds the promise of greatly increasing affordability and adoption of insurance for adverse weather events which affects…

Arbol

A weather immunity marketplace powered by blockchain Learn more at https://arbolmarket.com

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