Insurtech Continuity Secures €10M for AI-Powered Risk Detection
June 10, 2024, 9:34 pm
Continuity, a Paris-based insurtech company, has successfully raised €10M in Series A funding to further develop its AI-powered risk detection platform. Led by 115K and supported by Elaia and Bpifrance, this funding will propel Continuity's mission to revolutionize risk assessment in the insurance industry.
Continuity's innovative software analyzes insurance contracts and subscription requests to pinpoint risk factors and discrepancies, providing tailored recommendations based on each insured company's unique situation. With over 500 underwriters utilizing Continuity's tools to monitor one million contracts, major insurers like AXA, Crédit Agricole, and Hiscox trust Continuity to optimize risk assessment and monitoring.
CEO Benoît Pastorelli expressed excitement over the funding, emphasizing the company's commitment to transforming the P&C sector and supporting insurer partners. The additional capital will enable Continuity to expand its technology and AI capabilities, particularly in addressing challenges within the large risks segment. Plans include hiring new team members and expanding European operations to solidify Continuity's position as a technological leader in France and beyond.
Continuity's success in securing this funding underscores the growing importance of AI and data analytics in the insurance industry, positioning the company as a key player in driving innovation and efficiency. With a strong team and a clear vision for the future, Continuity is poised to make a significant impact on the insurance landscape.
Continuity's innovative software analyzes insurance contracts and subscription requests to pinpoint risk factors and discrepancies, providing tailored recommendations based on each insured company's unique situation. With over 500 underwriters utilizing Continuity's tools to monitor one million contracts, major insurers like AXA, Crédit Agricole, and Hiscox trust Continuity to optimize risk assessment and monitoring.
CEO Benoît Pastorelli expressed excitement over the funding, emphasizing the company's commitment to transforming the P&C sector and supporting insurer partners. The additional capital will enable Continuity to expand its technology and AI capabilities, particularly in addressing challenges within the large risks segment. Plans include hiring new team members and expanding European operations to solidify Continuity's position as a technological leader in France and beyond.
Continuity's success in securing this funding underscores the growing importance of AI and data analytics in the insurance industry, positioning the company as a key player in driving innovation and efficiency. With a strong team and a clear vision for the future, Continuity is poised to make a significant impact on the insurance landscape.