Insurance technology leader, Sandra DeSilva, has introduced Mythen, an innovative platform utilizing AI to offer parametric insurance solutions for natural catastrophe risks.
Operating from Bermuda and Texas, Mythen unites a team of international experts in the fields of reinsurance and advanced technology. The company’s cutting-edge approach leverages artificial intelligence, machine learning, sophisticated remote sensing, and advanced modeling to craft insurance products that address challenging-to-insure risks.
Mythen Holdings Bermuda supervises a suite of services including Mythen Insurance Services, a Texas-based managing general underwriter (MGU); Mythen Claims Services; and Mythen Re, which features a fully collateralized Bermuda segregated cell unit known as Eiger 2025.
In collaboration with the Texas-based Southlake Specialty Insurance Company, Mythen benefits from AM Best ‘A-’ VIII (‘Excellent’)-rated support, providing essential fronting and leverage. Additionally, the MGU gains from quota share coverage through partnerships within the broader reinsurance sector.
Central to Mythen Insurance Services is a sophisticated technology platform that seamlessly integrates data analytics, risk forecasting, and portfolio management tools. The firm has commenced underwriting windstorm risks, with a particular focus on coastal US hurricanes. Their parametric trigger products are engineered to expedite claims payments while maintaining low operational costs.
“We are at the forefront of utilizing cutting-edge technologies and collaborating with top-tier partner companies to expand our presence in the insurance market, offering products that cover a broad spectrum of natural and other catastrophe risks,” DeSilva stated.
She underscored Mythen’s commitment to tackling climate change and bridging the expanding insurance gap, adding, “I am thrilled with our team’s efforts as we address crucial social and environmental challenges.”
Yogesh Kumar, CEO of Southlake, remarked, “Mythen’s parametric solutions exemplify Southlake’s commitment to fostering innovation and employing technology to advance the insurance sector.”
“Sandra’s team is proactively addressing the significant challenge of providing first-dollar coverage within a complex market landscape.”
