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Mythen, an AI-driven parametric insurer, has launched operations in Bermuda and Texas, aiming to revolutionize the underwriting and management of natural catastrophe risks. Founded by Sandra DeSilva, the company utilizes advanced AI, machine learning, and remote sensing technologies to provide coverage for hard-to-insure risks. The initiative seeks to address climate change and the growing insurance gap by leveraging technology for global portfolios affected by climate risk.
Mythen Holdings Bermuda oversees various units, including Mythen Insurance Services and Mythen Re, which focus on managing general underwriting and claims services. The partnership with Southlake Specialty Insurance Company enhances Mythen's capabilities by providing high-quality insurance paper and fronting services. With plans to expand into other natural catastrophe coverages, Mythen is positioned to play a significant role in advancing insurance solutions for climate-related risks.
• Mythen uses AI to transform natural catastrophe risk management.
• The company aims to close the insurance gap with advanced technology.
Parametric insurance provides predefined payouts based on specific events, streamlining claims processes.
Machine learning algorithms analyze data to improve risk assessment and underwriting processes.
Remote sensing technology collects data from a distance, aiding in risk evaluation for natural disasters.
Mythen leverages AI and technology to provide innovative insurance solutions for climate-related risks.
Southlake provides essential insurance paper and services, enhancing Mythen's underwriting capabilities.
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