Watch Grace's pitch here:

Founder and CEO Grace Hanson delivered the winning pitch at the State Farm Startup Pitch Competition at InsureTech Connect (ITC) Vegas 2025. Her presentation focused on a market segment most providers avoid: complex commercial claims representing 85% of industry loss adjustment expense.

While traditional third-party administrators handle these cases manually, and digital TPAs automate around them, Elysian was purpose-built to solve what others sidestep.

Key Insights

The market opportunity

Complex claims represent 85% of the industry's loss adjustment expense—roughly $85 billion of the $100 billion spent annually adjusting commercial claims in the U.S. This segment is resistant to simple automation, since complexity requires judgment that evolves with each claim's unique trajectory. Traditional TPAs rely on manual workflows and outdated technology, while digital TPAs succeed with simple claims, but struggle with everything else. The most valuable segment remains the most neglected by true innovation.

Why it's hard to solve

A single complex claim can generate over 600 documents that must that must be contextualized within the claim narrative rather than labeled as isolated files. These claims follow non-linear paths that branch based on fraud indicators, subrogation opportunities, or coverage issues rather than predetermined workflows. Therefore, the expertise needed varies by jurisdiction and claim type in intricate ways that cannot be extracted from training data alone. Adjusters develop this knowledge through years of experience handling claims across thousands of variations.

How Elysian works

The Claim Conductor™ engine routes workflows dynamically as circumstances change. AI agents handle different claim phases simultaneously rather than sequentially. Veteran adjusters with 15+ years of experience work within the platform, preserving expertise that can't be replicated through pattern recognition alone.

Customer outcomes

When Elysian rolled over a program writer's portfolio, the platform identified systemic fraud the previous TPA missed within 30 days, flagged reserve release opportunities, and generated ground-up data on adjuster compliance with investigation protocols and coverage analysis quality. This operational visibility extends beyond traditional dashboards to show where vulnerabilities exist in individual files before they escalate.

Why This Win Matters

State Farm's Startup Pitch Competition drew nearly 200 applicants in 2025, with ten finalists presenting at ITC Vegas. The competition evaluates companies on innovation, scalability, and demonstrated customer impact.

This recognition from State Farm Ventures and the ITC Community validates our foundational thesis here at Elysian: the future of claims handling depends on technology built with the adjuster in mind, designed to give them the clarity and insight necessary to make decisions with confidence.

Our mission is to deliver exceptional claims outcomes through the thoughtful design and application of tomorrow's technology—and this achievement confirms we're on the right path.