French insurtech startup Continuity raises €10m to boost enterprise insurance with AI-driven risk detection

French insurtech startup Continuity raises €10m to boost enterprise insurance with AI-driven risk detection

Published: 10-06-2024 16:39:00 | By: Pie Kamau | hits: 502 | Tags:

Continuity, a pioneer in leveraging artificial intelligence and external data for professional and commercial P&C insurers, has announced a €10 million Series A funding round. This 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 202.

Damien Launoy, Managing Director, 115K: ''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. We were impressed by the robustness of the technology, the strong expertise of the teams, and the rapid, tangible returns on investment seen among Continuity’s clients. This positions Continuity perfectly as a European leader in its market. Our fintech expertise and long-term investment capacity make 115K a natural and solid partner to support this growth, and we are excited to lead this funding round alongside the company’s long-time shareholders.''

Continuity offers innovative SaaS solutions that utilize external data and artificial intelligence to improve risk selection and ongoing monitoring. Established in 2019, the company has been at the forefront of enhancing these processes over time. Continuity analyzes 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.

In a rapidly evolving risk landscape, accurate risk assessment is a critical issue for insurers. In fact, 10 to 15% of professional and business P&C insurance contracts don’t match the insured’s actual conditions. These inaccuracies can result from subscription errors or changes during the contract’s term.

Continuity’s 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.

To date, Continuity’s tools are used by over 500 underwriters, enabling better monitoring of one million contracts, representing €2 billion in premiums. Partner companies, including AXA, Crédit Agricole, Entoria, Groupama, MACIF, IME, Sada Assurances, Wakam, and Hiscox, trust Continuity to enhance risk assessment during underwriting and optimize long-term risk monitoring. Buoyed by these results and the renewed confidence of its investors, Continuity aims to go even further. 

Building on these results and the renewed confidence of its investors, Continuity aims to go further. With these new funds, the company will continue to develop its technology and AI to address new challenges for insurers, especially in the large risks segment. This ambition includes hiring around 15 new team members to strengthen a team already composed of over 30 talents and expanding its European presence.

Benoît Pastorelli, CEO and Co-founder, Continuity: ''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.''


Would you like to be featured on Startup Weekly for a free profile interview? Fill in this questionnaire here.

You can also send your columns / opinions / thought leadership pieces / industry insights, survey and reports to