Elysian Secures $6M to Transform Commercial Insurance Claims With AI-Native Platform

Elysian Secures $6M Seed Funding to Transform Commercial Insurance Claims with AI

Elysian, an AI-native third-party administrator (TPA) focused on commercial insurance claims, has closed a $6 million seed round. The round was led by Portage, with American Family Ventures and TenOneTen Ventures also participating. This funding will accelerate Elysian’s market entry, enhance customer onboarding, and expand its delivery operations and technology platform.

Founder’s Expertise Shapes Elysian’s Vision

Grace Hanson, Elysian’s founder and CEO, brings deep industry experience to the company. A former lawyer and Chief Claims Officer at several insurers including Allied World and Hippo Insurance, Hanson combines legal knowledge with senior claims leadership. This unique background informs Elysian’s product strategy, which focuses on creating practical tools for managing complex, high-stakes claims.

“We built Elysian by rethinking claims handling from the ground up – designing a hybrid intelligence system where AI manages the ‘messy middle’ and adjusters can focus on the human parts,” Hanson explained. The platform aims to raise the standard for claims services by integrating AI in a way that supports, rather than replaces, claims adjusters.

Two Core Offerings Built Around AI and Adjuster Collaboration

• End-to-End Claims Handling: Elysian’s system uses AI to highlight coverage and liability insights and drafts communications, letting adjusters concentrate on key decisions.
• Dynamic Claim Review (DCR): This feature delivers expert-led portfolio analysis faster and more comprehensively than traditional audits.

Both offerings leverage proprietary AI technology designed to work alongside adjusters, improving efficiency without sacrificing the human judgment essential to claims management.

Industry Leaders Back Elysian’s Approach

Ricky Lai, General Partner at Portage, highlighted the company’s potential: “Elysian is bringing purpose-built innovation to the core of commercial claims operations. Their platform provides adjusters with the tools to deliver better outcomes, and we’re excited to support the team in their next phase of growth.”

Minnie Ingersoll of TenOneTen Ventures added, “Digital TPAs have long been the goal, but delivering this product wasn’t possible before modern AI. Elysian stood out by tackling complexity from the outset and building systems that reflect how adjusters work.”

Kyle Beatty from American Family Ventures emphasized the significance of modern software and AI in claims administration: “We strongly believe the full category of claims administration will be transformed by modern software, predictive modeling, and generative AI. We are excited to support Elysian as they modernize one of the most challenging and highest value segments of commercial claims.”

Focused on Complex, Context-Rich Claims

Elysian’s platform is specifically designed to handle nuanced, context-heavy claims that traditional TPAs and tech vendors often avoid. The company’s long-term goal is to improve outcomes for carriers and claims professionals by combining modern tools with experienced leadership.

For insurance professionals looking to understand how AI is reshaping claims management, exploring AI-driven solutions like Elysian’s offers practical insight. Those interested in further AI applications in insurance can find resources and courses at Complete AI Training.