InsTech - insurance & innovation with Matthew Grant

Sid Jha, Founder & CEO: Arbol: Managing climate risks - parametric and beyond (274)

Nov 12, 2023

Arbol's CEO, Sid Jha, discusses their partnership with reinsurer Beazley and their plans to target unmet risks in energy and agriculture sectors. They explore measuring carbon offsets, building an ecosystem for climate risk management, and hybrid parametric insurance for difficult-to-insure risks. They also highlight the presence of "climate risk time bombs" in the financial system.

33:06

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Episode guests

Sid Jha

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Episode notes

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Quick takeaways

Arbol offers parametric insurance solutions for energy and agriculture, covering risks such as temperature, wind speed, rainfall, and crop yield.

Arbol is actively involved in carbon markets, developing unique solutions to manage carbon risks and offering parametric insurance for carbon offset projects.

Deep dives

Growing the Parametric Insurance Market

Arbol, as an MGA, is helping businesses protect against climate risks with parametric insurance. They have transacted $170 million in gross written premium and are expanding beyond parametric. Their partnership with Beasley allows them to deploy capacity in the United States for general weather risks, growing the non-cat side of the market. Arbol is also focused on international expansion, particularly in the UK-Europe area, where there are unmet risks in energy and agriculture. They are also increasing their focus in Latin America and Asia.

Introduction

3min

International Expansion and Unmet Risks in Energy, Agriculture, and Construction

9min

Managing Climate Risks in the Financial System and the Role of Insurance Brokers

4min

Hybrid Parametric Insurance for Brokers

11min

Automated Underwriting Process and Positive Response from Insurers

2min

Expanding Parametric Insurance Products in the Market

5min

Arbol, an MGA specializing in parametric insurance, has been rapidly growing and expanding since we last spoke a year ago. Arbol recently announced a partnership with reinsurer Beazley, enabling them to deploy capacity in the US for weather risks. Tune in to Henry Gale, Senior Research Analyst at InsTech as he speaks to Arbol’s CEO, Sid Jha, about Arbol’s plans to target unmet risks in the energy and agriculture sectors and its new products to help companies manage climate risks beyond insurance.

Key talking points include:

Insuring renewable energy and agribusinesses with parametric
Helping companies understand their exposure to climate risks
Measuring carbon offsets and the potential for carbon credit insurance
Building an ecosystem for climate risk management
Hybrid parametric insurance for difficult-to-insure risks
"Climate risk time bombs" in our financial system

If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn.

To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co

Continuing Professional Development - Learning Objectives

InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this podcast, you should be able to meet the following Learning Objectives:

Describe how parametric insurance mitigates climate risks.
List areas within different industries where parametric insurance can close the coverage gap.
Explain how parametric insurance can help understand both past and future pay-outs with data.

If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 274 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast.

To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

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