While personal insurance began its digital transformation a few years ago with the emergence of numerous 100% digital players, professional insurance remains largely dominated by traditional players. Major insurers have neglected the SME market, deeming it too costly to serve these companies with products and services specific to each of their activities.
Taking up the challenge, French insurtech company Orus has raised €5 million in funding from Frst, Partech, Portage Ventures and around twenty angel investors, including Pierre-Olivier Desaulle (ex-CEO of Hiscox Europe), Raphaël Vullierme (CEO of Luko), Christophe Triquet (ex-founder of MeilleureAssurance) and Arthur Waller (CEO of Pennylane). This first round of funding will enable the startup to accelerate its commercial development and launch new products.
Founded in 2021 by Côme Dartiguenave, Tom Le Bras, and Samuel Rossille, Orus aims to solve the complexity of professional insurance by reconciling large volumes with the need for multiple coverages tailored to very different professions.
The first offer is aimed at restaurant owners. According to the company, it allows customers to purchase insurance directly online in less than 5 minutes, without any commitment, with all the essential guarantees brought together under a single policy. This cover includes a common base of guarantees (such as general liability, theft, fire, water damage, electrical damage, etc.) as well as some options such as legal protection and business interruption.
Côme Dartiguenave, co-founder and CEO of Orus said: “Insurance is a social good to protect businesses. SMEs are the lifeblood of our economy and must be able to access the most suitable offer for their needs. Our mission is to create simple, efficient and affordable insurance to allow professionals to focus on what matters.”
“Orus is tackling the professional insurance market, which is more complex than others due to the multitude of insurance products, but also generates more value. Customers are more loyal and willing to pay a fair price for an efficient and transparent service. It has assembled an exceptional and complementary team to build a competitive product that is tailored to the many needs of its customers,” added Alison Imbert, principal at Partech.