Huscarl raises $5.6 million for AI actuarial platform

Huscarl , a startup building AI tools for self-insured companies, captives and risk retention groups, has raised $5.6 million in seed funding led by FRST, with participation from Y Combinator and other Silicon Valley investors.

The company’s platform ingests unstructured data, develops risk models for emerging or unusual exposures, and automates actuarial workflows.

Huscarl offers one-off actuarial studies, appointed-actuary services for captives, and outsourced underwriting for group captives and risk retention groups. It said it has worked with a risk retention group and a single-parent captive for a company with more than $2 billion in revenue.

The company was founded by CEO Alexandre Musy and CTO Paulien Jeunesse, who previously developed a cyber parametric insurance product at Descartes Underwriting.