Sid Jha, Founder & CEO: Arbol: Managing climate risks - parametric and beyond (274)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 12 November 2023

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Arbol, an MGA specializing in parametric insurance, has been rapidly growing and expanding since we last spoke a year ago. Arbol recently announced a partnership with reinsurer Beazley, enabling them to deploy capacity in the US for weather risks. Tune in to Henry Gale, Senior Research Analyst at InsTech as he speaks to Arbol’s CEO, Sid Jha, about Arbol’s plans to target unmet risks in the energy and agriculture sectors and its new products to help companies manage climate risks beyond insurance. Key talking points include: Insuring renewable energy and agribusinesses with parametric Helping companies understand their exposure to climate risks Measuring carbon offsets and the potential for carbon credit insurance Building an ecosystem for climate risk management Hybrid parametric insurance for difficult-to-insure risks "Climate risk time bombs" in our financial system If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe how parametric insurance mitigates climate risks. List areas within different industries where parametric insurance can close the coverage gap. Explain how parametric insurance can help understand both past and future pay-outs with data. If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 274 page of the InsTech website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Hello and welcome to the InTech podcast. Your usual host, Matthew Grant, is away this week,
0:13.2	so it's Henry Gale here from the Research and Insights team. We're busy writing about topics
0:18.5	like climate risk, with a report on wildfire coming out soon,
0:22.3	and parametric insurance, that's insurance where claims payouts are triggered by events.
0:27.4	We're seeing more organisations of all sizes trusting parametric to help them recover from weather
0:32.6	events and catastrophes, including the government of Mexico, which is getting two parametric
0:37.3	payouts after Hurricane
0:39.0	Otis last month. Today we're talking to Sid Jha, the CEO of Arbol. That's one of the companies
0:44.7	growing the parametric insurance market as an MGA, but also launching other initiatives to help its
0:50.5	clients manage climate risks beyond just insurance.
0:55.8	I'm sure you'll enjoy the discussion.
1:03.1	You can keep up to date with our research, interviews and events on parametric, climate and many, many other topics too by heading to www.insteg.com. Ho.
1:18.5	Sid, welcome back to the podcast.
1:20.0	Thanks for having me here, Henry.
1:20.7	It's a pleasure.
1:28.7	You founded Arbol five years ago now to help businesses get protected against climate risks with parametric insurance. And last year,
1:34.2	you transacted $170 million in grosswritten premium. So you're growing fast, but you're also growing beyond parametric with various other products to help companies manage and understand their
1:40.1	climate risks. You were last on the podcast around a year ago. What's changed since then?
1:46.4	And I know one of those things is earlier this year you announced a partnership with Beasley.
1:50.3	Could you tell our listeners a bit more about that and what it enables you to do?
1:54.7	Yeah, the Beasley Partnership was a big step for us making inroads into the reinsurance world while also demonstrating the future of
2:04.8	parametric insurance and where it can go. It came as part of our Lloyd's coverholder application
	...

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