Huscarl has raised $5.6 million in seed funding to expand its autonomous AI actuary platform in the US, as more companies turn to self-insurance to manage corporate risk.
The round was led by FRST, with participation from Y Combinator and Silicon Valley investors. Huscarl says its platform can ingest unstructured data, build bespoke risk models for emerging and unusual risks, and automate actuarial workflows from end to end.
The company is targeting the growing captive insurance market. According to Marsh’s 2026 Captive Solutions Benchmarking Report, captives managed by the broker generated $79.1 billion in gross written premiums in 2025, up from approximately $77 billion a year earlier. Fortune 500 companies using captives increased their captive premium volume by 9%.
Captives allow companies to retain selected risks through their own insurance subsidiaries rather than transferring everything to commercial insurers.
Huscarl’s system does not remove human actuaries from the process. Each study is reviewed and signed by a credentialed human actuary.
The startup’s founders, 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. We’re working towards a future where self-insurance becomes the default, and commercial insurance becomes the exception. Thanks to this funding round, we’re significantly closer to achieving that.”
Huscarl says it has already been trusted by a Risk Retention Group and a single-parent captive for a company with more than $2 billion in revenue. The company plans to use the new capital to expand its US presence and its network of captive managers and brokers.
