What: Continuity's SaaS platform uses Open Data and AI to verify insurance contracts that may be out of date or invalid. Using algorithms to reconcile data and geo-coding, the startup can track more than 100 criteria to create a 360-degree view of SME's risk profile.
Why: According to Continuity, 10-15% of contracts involving SME's are not up-to-date, and therefore may be invalid. Monitoring all these contracts can be laborious for insurance firms. Continuity promises to help these insurance customers get quicker decisions on policy questions while seamlessly updating their coverage as their needs evolve.
Seed Round: €5m
Next: Continuity has already landed clients such as AXA France, Hiscox France, and MMA. The company will use the funding to further develop an AI assistant that can determine whether a potential SME is insurable and whether existing contracts need updating. The company is also hiring 30 new employees.