Arbol Wins Underwriting Innovation of the Year Award at Insurance Insider Honours 2023

September 12, 2023
Arbol wins Insurance Insider's 2023 Innovation of the Year award Arbol wins Insurance Insider's 2023 Innovation of the Year award

We're elated to announce that Arbol has been the recipient of the Underwriting Innovation of the Year award from Insurance Insider — the industry-leading news organization trusted by insurance professionals. This prestigious award recognizes our groundbreaking dRe platform and underscores our commitment to driving efficiency, transparency, and resilience in the insurance and reinsurance sectors.

The Award-Winning dRe Platform

Developed in partnership with The Institutes RiskStream Collaborative, the dRe platform is the first on-chain data calculation tool for reinsurance. Utilizing smart contracts and weather data validated by dClimate, the platform automates parametric loss calculations, making for swift payouts and streamlined processes.

The adaptability of dRe is its hallmark—capable of handling diverse perils such as rain, heat, or wind. The platform even has the capacity for non-parametric insurance event notifications, further broadening its applicability. With dRe, Arbol is redefining what's possible in the reinsurance landscape.

Reflecting on what the award means for the company, Arbol’s Founder and CEO Sid Jha observed: "We’re tremendously honored to receive the Underwriting Innovation of the Year award from Insurance Insider. This recognition validates our unstinting efforts to bring a new level of transparency and efficiency to the industry. With this award, we're not just celebrating our current innovation; we're setting the stage for a future where blockchain technology and smart contracts extend their transformative power across the entire spectrum of insurance risks."

How dRe Platform is Changing the Game

  • Streamlined Processes: Gone are the days of cumbersome paperwork and endless back-and-forth communication. dRe automates key elements of the claims process.
  • Transparency: One of the main challenges in the insurance industry is the lack of transparency, especially during stressful times like natural disasters. The dRe platform, with its blockchain-based architecture, provides an unprecedented level of transparency.

Arbol’s Vision for Climate Resilience

As a pioneer in climate tech, Arbol's mission extends beyond insurance to encompass a broader ambition — bolstering climate resilience worldwide. The dRe platform fits perfectly within this vision by utilizing advanced technologies like AI and blockchain to offer speedy, precise, and transparent solutions for risk management.

For more information about the dRe platform, you can read the coverage on CoinDesk.


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