Elysian, a third-party administrator (TPA) that leverages AI for commercial insurance, has completed a $6m seed funding round.  

The round was led by Portage, with additional contributions coming from American Family Ventures and TenOneTen Ventures.  

The capital injection is intended to speed up Elysian’s “go-to-market” strategy and facilitate customer onboarding. 

The funds will also be used to scale up the operational delivery and technological infrastructure of the company. 

Portage general partner Ricky Lai said: “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 are excited to support the team in their next phase of growth.”  

Grace Hanson, a former lawyer with a track record as chief claims officer at various insurance firms, founded Elysian.  

Hanson earlier had stints at Allied World, Homesite Insurance, Hiscox and Hippo Insurance.  

Elysian offers end-to-end claims management and Dynamic Claim Review (DCR) solutions, underpinned by its proprietary AI technology.  

This technology is designed to augment the work of claims adjusters by providing key insights into coverage and liability and offering tailored communication.  

DCR offers a deeper and quicker review process compared to traditional claim audits, the insurtech company said in a statement. 

Hanson said: “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. Our approach is shaped by firsthand industry insight and designed to raise the standard for modern claims services.”