ADJST is raising a £1.5m pre-seed to build the AI-native claims platform — and the TPA it powers — starting with UK motor. A founding team that has run motor claims at scale and built award-winning, globally-scaled claims processing solutions previously — going after the biggest unreformed line on every carrier's P&L, at the moment AI finally changes how a claim is processed.
Carriers and MGAs outsource claims — their biggest cost — and lose visibility, control and margin the moment they do: monthly bordereaux instead of live data, 5–10% indemnity leakage, quarters to change anything. The mid-market is worst served: the mega-platforms are absorbed in M&A integration, and ~180 UK MGAs are left behind by Tier-1 systems built for large carriers. Meanwhile AI has the opportunity to change the entire operating model; change the way every claim is processed. Every incumbent is retrofitting AI to legacy platforms but this doesn't work in the long term. ADJST is building AI-native claims and the right shaped operational team from the ground up, for exactly this moment.
ADJST is one platform, sold two ways: as software a customer's own team runs, and as a service we run for them on it — with every level in between. The customer chooses how much of the operation we take on and can change it later.
UK P&C TPA market across motor, property and casualty.
Mid-market carriers and ~180 UK MGAs underserved by Tier-1 platforms.
Year-5 capture: ~5% of SAM via 8–12 carrier/MGA design partners.
The structure: ~100 UK-relevant firms sit on the Lloyd's DCA register — roughly 10 large platforms (competitors, not targets), ~18 mid-market specialists (our target set), and ~70 niche players. We start with UK motor — the highest volume, and the clearest fraud and reserving wins. Property (beginning with escape of water) and casualty come next.
Lloyd's DCA Register × Companies House; ADJST analysis — to be validated.
Consolidation has absorbed the mega-platforms in integration; nobody is innovating for the mid-market below them.
The PRA and FCA are tightening outsourcing oversight; Consumer Duty demands real-time data, fair outcomes and explainability that legacy stacks can't evidence.
LLMs can finally handle the unstructured core of a claim at scale, with audit trails — changing how a claim is processed, not just speeding the old way up.
Design partners from day one. We engage founding MGA and carrier partners before the raise closes — they shape the build from the start and de-risk the cold start, rather than arriving after the product is set. Partner LOIs are a Stage-0 gate, not a later milestone. The first cohort are Calibrated SaaS partners: their books are what the calibration is tuned on, which makes the earliest customers the source of the moat rather than just its first beneficiaries.
Design partners before the raise. Strategic insurance capital in the cap table. MGA-first. The same pattern took the leading US challenger from seed to a nine-figure Series C in four years.
What the round delivers: first design-partner LOIs and first revenue within six months; by month 18, ≥2 live motor contracts, a £2–4m ARR run-rate and a Series A pack ready. The product releases behind these dates sit in The plan.