Arbor Launches AI Platform with Blockchain for Climate Insurance

There are already thousands of cryptocurrency projects. Some are similar to each other, while others choose absolutely unique fields of activity. Thanks to this, the blockchain technology is expanding. Arbol startup is one of the latest, having created a unique climate insurance platform.

What is the Arbol crypto project?

Arbol startup is a global platform. Its purpose is to cover climate risks. It also offers comprehensive solutions for businesses to analyze climate risks, control them and transfer them. Arbol products have parametric coverage. It uses objective data, not a subjective assessment of losses.

At the same time, it represents a complete ecosystem that was created to combat climate risks. It consists of several key areas:

  1. Massive climate data infrastructure.
  2. Scalable product development.
  3. Automated and instant pricing. At the same time, an underwriter and artificial intelligence are used.
  4. Operational efficiency, with the help of blockchain and an unconventional ability to take risks. At the same time, capital is attracted from non-insurance sources.

Thanks to these factors, Arbol gives scalability and transparency.

About the launch of the dRe blockchain

Startup Arbol, together with The Institutes RickSteam Collaborative, announced that they had launched the dRe project. However, it is still being developed. The partner company is the largest consortium of blockchains and innovations in the insurance sector.

The dRE project acts as the first tool that calculates data on the network in order to carry out reinsurance.

The platform is developed on the blockchain and is an important step in parametric reinsurance. It highlights the significant advantages in the strategic partnership of companies.

The dRe Lifecycle Dashbord infopanel is a system built on smart contracts. It provides efficient and transparent calculations of parametric losses for operations that are associated with the strongest hurricanes and catastrophic events.

A number of information is used to launch smart contracts:

  • Wind speed
  • Geographical location of the dangerous event.
  • Weather data from the main decentralized networks dClimate and Chainlink.

After that, the requirements are automatically initiated. Notifications and calculation of financial losses are also created. This ensures a high payout rate and the correct data flow. It also gives higher transparency.

The founder of Arbol said that dRe has become an important achievement to improve data transparency and efficiency in the insurance industry. Thanks to blockchain technology and smart contracts, the project can radically change the landscape of parametric insurance. At the moment, the project is focused on severe storms. However, the system in the future paves the way for adaptation about other dangers.

Kaleido and Canopy RickStream technologies are used on the platform. The latter is the first in the field of end-to-end repeatedly used blockchain infrastructure.

The dRe system makes it possible not only to adapt it to different risks, for example, rain, high temperature or wind, but also represents the potential for other notifications that do not have parameters. Thanks to this, it becomes a powerful tool that completely takes insurance technologies to a new level.

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