“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 push the boundaries of what’s considered possible through how we breed varieties, grow crops, and make the food that feeds the world,” said Jordan Atchison, PURIS Grains President. “Adding Yield Coverage to the offering ensures that any PURIS grower, anywhere in the country, can plant PURIS peas with confidence. That benefits everyone on our path to a plant-strong planet.”
The highlights of the Arbol backed Yield Coverage Program include:
● Offering underserved farmers better income potential and access to crop insurance previously unavailable for dry peas.
● Encouraging environmentally friendly farming to promote soil fertility and health, reduce the need for unsafe nitrogen applications, and expedite the growth in plant-based foods and proteins.
The PURIS Yield Coverage program will use Arbol’s proprietary financial technology and on-farm machinery sensors as an anchor for its program. Arbol’s technology will monitor field activities to determine when a yield loss occurs, and then enable an automatic payout for users with no claims process.
PURIS Yield Coverage backed by Arbol will be available anywhere in the U.S. and will be the first private program of its kind for yellow field peas.
About Arbol Inc:
Arbol is an InsurTech platform for parametric products that pay quickly and fairly covering external risks such as unexpected weather. Arbol uses Big Data, Machine Learning and Smart Contracts to bring transparency and remove delays and disputes of traditional insurance policies. Arbol’s products serve a range of industries including agriculture, energy, maritime, leisure, and a host of other bespoke risks.
PURIS is a family-owned company founded in 1985 in Oskaloosa, Iowa. Built with intention over 30 years, our plant-based food system benefits every link in the chain of production: flavorful and nutritious choices for people, profitable opportunities for growers, flexible ingredients for food makers, and practices that nourish soil, the environment, and life on earth.