Startup Arbol Unveils AI and Blockchain-Powered Climate Insurance Platform

New York-based startup Arbol has unveiled a parametric insurance platform powered by artificial intelligence (AI) and blockchain, developed in collaboration with the RiskStream Collaborative, which claims to be the biggest enterprise-level blockchain consortium of the insurance industry, Arbol told CoinDesk. The platform, dubbed dRe, is specifically designed for reinsurance, meaning insurance for insurance companies, and is currently focused towards severe storm catastrophes. The platform automates claim initiation, notifications and loss calculations, to increase the speed of payouts as well as enhance transparency in the system, said the statement.

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