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Arbol
Parametric insurance provider
- 21-100 employees
- B2C
- B2B
- Enterprise
- Insurance
- Blockchain
- Civic Center, New York, NY
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Company mission
To provide simple, data-driven coverage to our customers.
44% employee growth in 12 months
Our take
$1 trillion of agricultural risk is not insured, much of it in developing nations, where many farmers do not have access to insurance at all. Small-hold farmers, or those facing variable weather conditions - only more frequent due to climate change - are last in line to receive coverage from traditional providers.
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 utilise 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.
Steph
Company Specialist at Welcome to the Jungle
Funding (last 2 of 3 rounds)
Apr 2024
$60m
SERIES B
Jan 2021
$9m
SERIES A
Total funding: $71m
Leadership
Siddhartha Jha
(CEO)Before Arbol, they were a Cross-Commodities Quantitative Strategist at Citadel. Also worked in Commodities trading at Castleton, Arbalet Capital and JP Morgan Chase. Harvard graduate.