The FRST-led seed round will help the startup expand its autonomous AI actuary platform in the US as more companies retain and manage their own insurance risk.
Huscarl has raised seed funding to expand its AI-powered actuarial platform in the US, targeting companies that are taking greater control over their insurance risk.
The round was led by FRST, with participation from Y Combinator and Silicon Valley investors. Huscarl plans to use the funding to deepen the capabilities of what it describes as the first autonomous AI actuary for corporations and insurance captives.
The platform ingests large volumes of unstructured data, generates bespoke risk models for emerging and unusual risks, and automates actuarial workflows. Each study is reviewed and signed by a credentialed human actuary.
The startup is entering a 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 them entirely to commercial insurers.
Huscarl’s founders bring experience from the insurance technology sector. 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.
The company 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.
“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 for captives and AI-powered outsourced underwriting for group captives and Risk Retention Groups.
As companies explore ways to retain more risk, Huscarl is betting that AI can make the actuarial infrastructure behind self-insurance faster and more accessible.
“We’re working towards a future where self-insurance becomes the default, and commercial insurance becomes the exception,” said Musy.
