Huscarl is bringing AI to one of the more specialized parts of corporate insurance: actuarial work.
The startup has raised $5.6 million in seed funding led by FRST, with participation from Y Combinator and other investors. The company plans to use the funding to expand in the US and develop its autonomous AI actuary for corporations and insurance captives.
Its platform ingests large volumes of unstructured data, generates bespoke risk models and orchestrates actuarial workflows. Human actuaries remain involved, reviewing and signing every study.
The technology comes as companies increasingly use captives to retain their own insurance risk. Aon’s 2025 Global Risk Management Survey found that 22% of respondents had a captive or protected cell company, while another 4.1% planned to establish one within three years.
Cyber is also becoming a larger part of the captive market. Aon found that nearly a quarter of respondents with captives were using them to underwrite cyber risk, compared with just 1% in 2014.
That is a market Huscarl’s founders know well.
CEO Alexandre Musy and CTO Paulien Jeunesse previously worked together at Descartes Underwriting, where they created what Huscarl describes as the world’s first cyber parametric insurance product for corporations.
“Huscarl was born out of one strong belief: corporations should manage their own risks like insurance companies,” said Musy. “Our goal is clear: to enable ambitious corporate risk managers to become their own company’s Chief Underwriting Officer.”
Huscarl provides actuarial studies, ongoing Appointed Actuary services and AI-powered outsourced underwriting for group captives and Risk Retention Groups.
The company says it has already worked with a Risk Retention Group and a single-parent captive for a company with more than $2 billion in revenue.
“We’re working towards a future where self-insurance becomes the default, and commercial insurance becomes the exception,” said Musy.