AI-native third-party administrator (TPA) for commercial insurance, Elysian, has announced the closing of a US$6 million seed round led by Portage, with participation by both American Family Ventures and TenOneTen Ventures.
Grace Hanson, a former lawyer and chief claims officer at Allied World, Homesite Insurance, Hiscox, and Hippo Insurance, founded the company in a bid to address the complexity of commercial claims through the utilisation of modern tools.
She says Elysian was built by “rethinking claims from the ground up,” adding that it’s intended as a “system where AI manages the ‘messy middle’ and adjusters can focus on the human parts”.
