Arbol

Arbol fulfils this gap with new technologies fit for these farmers needs. The startup offers parametric insurance codified on the Ethereum blockchain. That means it can utilize smart contracts, executing against hard parametric data to deliver automatic payments in two weeks or less. Weather risk for agriculture is Arbol’s primary coverage focus in its early stages, but it has already started rolling out smart contracts for other types of risk and industry.

Getting farmers paid in cases of conditions outside their control is a relatively simple concept. Arbol’s challenge is executing this. So far, it has done a great job of navigating customer education, complex datasets, evolving standards in the blockchain world, regulations, legal complexity, and a host of other challenges. And now with extra funding, the company is ready to widen the adoption of its products and establish climate risk as a tangible and investable asset class.