Elysian, an AI-native third-party administrator for commercial insurance, secured $6 million in seed funding. Portage led the round, with participation from American Family Ventures and TenOneTen Ventures. This investment, therefore, will accelerate Elysian's market entry and scale its technology platform for AI insurance claims.
The Nashville-based company modernizes complex commercial claims handling. Elysian's platform uses AI to support adjusters, not replace them. Founder Grace Hanson, a seasoned executive and former Chief Claims Officer, brings extensive industry insight. She shapes AI insurance claims solutions.
Redefining Commercial Claims with AI
Elysian offers end-to-end claims handling and Dynamic Claim Review (DCR). Its proprietary AI technology works alongside adjusters. For instance, the system surfaces coverage and liability insights. Furthermore, it drafts tailored communications, allowing adjusters to focus on critical decisions. Moreover, DCR provides expert-led analysis for entire claims portfolios, delivering faster reviews than traditional audits. Consequently, this approach addresses the complexity of commercial insurance claims with advanced AI insurance claims technology.
The funding specifically supports go-to-market efforts and customer onboarding. It also scales delivery operations. Thus, Elysian aims to deliver better outcomes for carriers and claims professionals. The company's vision involves redesigning claims services with modern tools. Competitors in the broader insurtech space include Tractable and Snapsheet. Elysian, however, focuses on complex commercial claims.
