Beazley Launches Parametric Climate Risk Management Product with new Lloyd's Coverholder, Arbol
Arbol's proprietary pricing platform is powered by artificial intelligence and a dedicated climate data infrastructure to inform underwriting operations. Weather data indices are used to develop customised parametric products, using triggers specific to the peril and the insured.
Guy Carpenter served as the sole placing broker and was responsible for securing the required capacity.
Hong Guo, EVP and Chief Insurance Officer of Arbol said, "This milestone validates our commitment to delivering innovative risk management solutions. It opens new possibilities to serve our clients and the insurance industry as businesses seek to effectively manage emerging climate risks."
Neil Kempston, Head of Incubation Underwriting at Beazley, added, "Beazley is committed to supporting the development of weather parametric products that ease the challenges the agricultural supply chain and renewable energy markets face as we move to net zero. By building a long-term partnership with Arbol we can deliver for our brokers and their clients."
The product is now available in the
Arbol Insurance Services (an Arbol subsidiary) has also now been appointed as a Lloyd's coverholder, with a facility led by Beazley supported by Tokio Marine Kiln and Nephila.
About Arbol
Arbol is an innovative global fintech company that provides full-service solutions for businesses seeking to manage climate risk exposure. Arbol's parametric coverage pays out based on objective data triggers, rather than traditional subjective loss assessments. By leveraging advanced technologies like AI underwriting, big data, and blockchain-powered operational efficiencies, Arbol delivers much-needed scale and transparency to the climate risk insurance space. We aim to drive innovation and collaboration to support climate-friendly investment and help organizations manage climate-related risks.
Learn more about Arbol at: www.arbol.io
About Beazley
Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in
Beazley's underwriters in
Beazley's European insurance company, Beazley Insurance dac, is regulated by the Central Bank of
Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber, property, marine, reinsurance, accident and life, and political risks and contingency business.
For more information please go to: beazley.com
About Guy Carpenter
Guy Carpenter & Company, LLC is a leading global risk and reinsurance specialist with 3,400 professionals in over 60 offices around the world. Guy Carpenter delivers a powerful combination of broking expertise, trusted strategic advisory services and industry-leading analytics to help clients adapt to emerging opportunities and achieve profitable growth. Guy Carpenter is a business of Marsh McLennan (NYSE: MMC), the world's leading professional services firm in the areas of risk, strategy and people. The Company's more than 85,000 colleagues advise clients in 130 countries. With annual revenue of over
Contact: press@arbol.io
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SOURCE Arbol
