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. “Hong’s decades of industry experience and his forward-looking vision of the industry’s future will be a critical asset as we look to expand our existing line of parametric products and serve clients in new industries and regions around the world.”
“I’m excited for the opportunity to join Arbol and to work with a team that is leveraging its AI-powered, proprietary pricing platform along with data, analytics and blockchain technology to broaden the adoption of parametric insurance,” said Hong Guo. “I look forward to bringing innovative, data-driven insurance products to a wider range of customers as part of Arbol’s aim to contribute to the industry’s effort to close the protection gap.”
Before joining Arbol, Hong held a number of senior positions over a 23 year career at Guy Carpenter that touched on many different businesses areas, including reinsurance broking, product innovation, global client management, strategic advisory and Insurance Linked Securities. Hong began his insurance career with PICC in Beijing.
Arbol is an InsurTech platform for parametric products that pay quickly and fairly covering external risks such as unexpected weather. Arbol leverages big data and cutting edge technology (AI, machine learning, blockchain) to bring transparency and efficiency to the weather risk market while providing a simple and hassle free user experience.
Arbol’s platform, which allows users to get live pricing and customize their coverage program is powered by an AI underwriter built to keep premiums as low as possible. Arbol’s smart contracts, which are triggered by objective, tamper-proof and trusted datasets facilitate an automatic payout for its users when the threshold for loss in their contract is met, meaning they never have to file a claim to get paid. Arbol’s products currently serve individuals and businesses in the agriculture, energy, maritime and leisure industries.