Continuity latest funding round to boost development and enhance innovation capabilities

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Continuity, a “pioneer” in leveraging artificial intelligence and external data for professional and commercial P&C insurers, has raised €10 million Series A funding round to boost enterprise insurance with artificial intelligence-driven risk detection.

Established in 2019, Continuity offers innovative SaaS solutions that utilise external data and AI to improve risk selection and ongoing monitoring.

In a rapidly evolving risk landscape, accurate risk assessment is a critical issue for insurers. Its solutions help its partners tackle these challenges by providing a 360-degree, real-time view of the risks linked to the companies they insure.

This insight allows insurers to better support their clients and offer coverage that fits their needs.

It analyses each insurance contract and new subscription request to identify risk factors, concerns, and discrepancies, offering the best recommendations based on the insured company’s actual situation.

The latest financing, led by 115K and supported by historical investors Elaia and Bpifrance through their Digital Venture fund, follows an initial capital injection of €5 million in 2021.

“This new milestone confirms the robustness of our model and will enable Continuity to continue its technological investments to establish itself as a market-leading solution benefiting insurers,” said Damien Launoy, Managing Director of 115K.

Benoît Pastorelli, CEO and co-founder of Continuity, highlighted: “We are thrilled with this new funding round, secured with top-tier investors, which will accelerate our development and enhance our innovation capabilities.

“We are proud to support the transformation of the P&C sector and contribute to the success of our insurer partners. Specifically, this funding will allow us to expand our solution to optimize the management of large industrial and agricultural risks, solidifying our position as a technological leader in France and initiating our European expansion.”

Sébastien Lefebvre, Partner at Elaia, commented: “We believe in Continuity’s vision to simplify and improve the insurance underwriting process through advanced artificial intelligence and data analysis. Their strategic partnerships and relentless innovation are essential in a fast-changing market. As long-time investors, we’re excited to continue this journey with the Continuity team and explore new horizons in insurtech.”

Clarisse Blandin, Investment Director at Bpifrance, concluded: “Continuity exemplifies how a tech company can become a game-changer for a traditional sector like insurance. The Bpifrance Digital Venture team is convinced by their solution, which allows for precise and rapid risk assessment, a must in our ever-evolving world.”

The post Continuity latest funding round to boost development and enhance innovation capabilities appeared first on ReinsuranceNe.ws.

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