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Centauri Insurance and Arbol, Inc. together have been nominated by Insurance Insider for Operational Innovation of the Year and Underwriting Innovation of the Year for their implementation of Arbol’s reinsurance parametric solution via dRe – a blockchain-powered parametric reinsurance platform. 


In June of 2022, Centauri, a division of Applied Home National Underwriters, partnered with Arbol to implement a parametric reinsurance solution to cover hurricane risks in Florida.  This collaboration proved to be invaluable in the wake of Hurricane Ian, a category 4 storm that hit the Southwest coast of Florida last September.  Using individual policy location data, which considers the distance and sustained wind speed along the storm track, Centauri received a $10 million payout within three weeks of the storm due to Arbol’s parametric cover.  It’s unique in that it triggers when the National Hurricane Center declares a named storm and it passes within certain concentric circles around individual policyholders.  This carefully designed structure accurately reflected actual losses incurred allowing Centauri to effectively manage risk exposure, operational continuity, and customer satisfaction.  “Our strategic partnership with Arbol helped us execute on our commitment to be there for agents and policyholders in their time of need” commented Bob Courtemanche, CEO of Centauri and Applied Home National.


dRe is the first on-chain data calculation tool for reinsurance and was created in collaboration with Arbol and The Institutes RiskStream Collaborative. The blockchain-powered platform is a significant milestone for parametric reinsurance, highlighting the tangible benefits of Arbol and RiskStream’s strategic partnership. Arbol’s dRe Lifecycle Dashboard is a smart contract-based system that enables efficient and transparent parametric loss calculations for severe storm catastrophe transactions. Leveraging validated weather data from leading decentralized climate data networks, dClimate, and Chainlink’s industry-standard decentralized oracle network, the platform triggers a smart contract based on wind speed and location for specific peril events. The system automates claim initiation, notifications, and loss calculations, resulting in rapid payouts, streamlined data flow, and heightened transparency.


“Centauri has distinguished itself as the first insurer in its industry to benefit from the fully collateralized parametric reinsurance solution that can be executed via a blockchain platform.” Bob Courtemanche further commented, "Through dRe, we are able to leverage the transformative power of blockchain technology in the (re)insurance sector. This significant step reflects not just Centauri's evolution but signals a broader shift in the insurance industry of which we are at the forefront."


Insurance Insider will announce winners at a black-tie event in September.


Centauri Insurance and Arbol, Inc. Nominated for Insurance Insider’s 2023 Honors

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