Continuity, a software provider specializing in risk intelligence for professional and commercial property and casualty (P&C) insurers, has successfully raised €10 million in a Series A funding round. The round was led by 115K, with historical investors Elaia and Bpifrance’s Digital Venture fund also participating. The company had previously received a capital injection of €5 million in 2021. This significant financial boost aims to further enhance Continuity’s technological capabilities and expand its presence in the European market.
Earlier investments in Continuity have similarly focused on technological advancements and expanding market reach. The latest funding round underscores the company’s consistent growth and investor confidence. Historical funding rounds have shown that Continuity effectively uses its capital to refine its AI tools, benefiting its clients through precise risk assessments and recommendations.
The company’s services are trusted by major industry players such as AXA, Crédit Agricole, and Groupama, validating the effectiveness of their solutions. Previous reports indicate that Continuity’s AI-driven analysis has consistently helped insurers enhance risk monitoring and underwriting processes.
Technology and Adoption
Continuity provides detailed analyses of insurance contracts and new subscription requests, identifying potential risk factors and discrepancies. This information enables insurers to make informed decisions based on the actual situation of the insured company. Over 500 underwriters currently use Continuity’s tools to monitor one million contracts, demonstrating the software’s extensive adoption and reliability.
The company’s ability to offer precise recommendations helps insurers optimize their risk assessment processes. By leveraging AI and advanced analytics, Continuity supports insurers in improving long-term risk monitoring, which is crucial for maintaining profitability and reducing unforeseen financial losses.
Future Plans
With the new funds, Continuity aims to develop its technology further, particularly focusing on addressing large risks for insurers. The company plans to hire approximately 15 new team members, augmenting its existing team of over 30 professionals. This strategic expansion is in line with their goal to strengthen their technological leadership and initiate broader European operations.
Benoît Pastorelli, CEO and co-founder of Continuity, expressed enthusiasm about the new funding round. He highlighted the potential for accelerated development and innovation, which will enable the company to continue supporting the transformation of the P&C sector. The funds will also help expand their solutions to manage large industrial and agricultural risks more effectively.
Key Insights
– The latest funding round indicates strong investor confidence in Continuity’s capabilities.
– Continuity’s AI tools are crucial for improving risk assessment and underwriting processes.
– The expansion plans include significant hiring and technological enhancements.
The substantial funding secured by Continuity not only highlights the trust investors place in the company but also the growing importance of AI-driven solutions in the insurance industry. As they focus on addressing large risks and expanding their European footprint, Continuity is poised to become a key player in the market. Their tools have already demonstrated efficacy in enhancing risk assessment processes, and the planned technological advancements will further solidify their position. By continuing to innovate and expand, Continuity aims to support insurers in navigating complex risk landscapes more efficiently.
