– Arbol secures $60 million in Series B funding led by Giant Ventures and Opera Tech Ventures, with participation from Mubadala Capital.

– Parametric insurance, based on predefined climate data triggers, enables swift financial aid delivery following catastrophic climate events.

– Arbol aims to broaden the adoption of parametric products and pioneer climate risk as a tangible, investable asset class through its technology ecosystem and global datasets.

Arbol, a leading provider of climate risk solutions operating across more than 15 countries, announced the closure of a $60 million Series B funding round, co-led by Giant Ventures and Opera Tech Ventures, with participation from Mubadala Capital.

In light of a year marked by unprecedented climate events, including 398 natural disasters resulting in $380 billion in losses and a record 37 billion-dollar insured loss events, Arbol’s funding signifies a crucial advancement in climate risk insurance.

Parametric insurance, which delivers payouts based on predefined and reliable climate data triggers such as rainfall levels or temperature thresholds, replaces the subjective and time-consuming manual damage assessments typically conducted by claims adjusters. 

This enables the swift delivery of vital financial aid to communities affected by catastrophic climate events. For instance, farmers facing reduced crop yields due to adverse weather conditions could swiftly receive financial support if rainfall falls below a certain threshold.

Arbol enhances the scale, transparency, and efficiency of climate risk management. By leveraging trusted global datasets for objective loss triggers, Arbol aims to expand the adoption of parametric products and pioneer climate risk as a tangible, investable asset class. 

Its technological ecosystem integrates automated structuring, AI-powered underwriting, pricing tools, and user-friendly platforms for agents and brokers.

Sid Jha, Arbol’s founder and CEO, remarked, “This Series B funding signifies a pivotal moment for Arbol, validating our accomplishments and propelling our mission to normalize parametric financial products and insurance globally as essential components of climate risk management. 

“Our ambition extends from empowering the world’s smallest subsistence farmers in underserved regions to safeguarding the assets of the world’s largest corporations, ensuring that all have access to unparalleled protection amidst the unpredictability of climate change.”