Paris-based insurtech startup Continuity bags €5 million for their AI assistant
Summary
The insurtech company has just bagged a funding boost of €5 million from Elaia Partners, Bpifrance, and Kamet Ventures. Benoit Pastorelli, Founder and CEO of Continuity, explained: “When we started looking into how P&C insurance was underwritten, we were astonished to discover how outdated and limited the tools available to underwriters were. Continuity has processed more than 500,000 contracts worth more than €1.5 billion, helping to generate several million euros in additional premiums for insurers and preempting large claims due to early identification of risks. It will also be used to recruit 30 additional Continuity team members, extend its portfolio scan solution to new product lines including Agriculture and Fleet, and introduce a new offering for specialist brokers and MGAs to facilitate delegation of underwriting. We are excited to have the support of Elaia and Bpifrance, two of the most knowledgeable and experienced investors in our industry and look forward to continuing to scale our offering to transform underwriting processes everywhere.”
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