Orus Company Profile

Background

Orus is a Paris-based insurtech startup founded in 2021, dedicated to transforming professional insurance for small and medium-sized enterprises (SMEs). The company's mission is to provide simple, affordable, and tailored insurance coverage, enabling SMEs to focus on their core operations without the complexities traditionally associated with insurance.

Key Strategic Focus

Orus specializes in offering sector-specific insurance products through a fully digital platform. By leveraging technology, the company delivers a seamless user experience, allowing clients to purchase and manage insurance policies online efficiently. Initially targeting the restaurant industry, Orus plans to expand its offerings to cover a broader range of business sectors, addressing the unique needs of each.

Financials and Funding

Since its inception, Orus has successfully secured significant funding to support its growth and product development:

July 2022: Raised €5 million in a seed funding round led by Frst, Partech, Portage Ventures, and several business angels.

October 2023: Secured €11 million in a Series A funding round, bringing the total funds raised to approximately €16 million.

These investments are intended to fuel product development, expand the customer base, and enhance the technological infrastructure.

Technological Platform and Innovation

Orus distinguishes itself through a proprietary digital platform that simplifies the insurance process for SMEs. Key technological features include:

Sector-Specific Products: Development of exclusive insurance products tailored to various industries, starting with the restaurant sector.

Digital Customer Experience: A 100% online platform enabling policy purchase and management in under five minutes, with no long-term commitments.

Automated Processes: Utilization of internal tools and automation to streamline operations, allowing customer care agents to focus on providing personalized support.

Leadership Team

Orus is led by a team of experienced professionals:

Côme Dartiguenave: Co-Founder and Chief Executive Officer. Prior to founding Orus, Côme held various positions in the insurance and technology sectors, bringing a wealth of experience to the company.

Tom Le Bras: Co-Founder and Chief Operating Officer. Tom's background includes roles in operations and management within the insurance industry, contributing to the strategic direction of Orus.

Samuel Rossille: Co-Founder and Chief Technology Officer. Samuel has a strong background in technology development, focusing on building scalable and efficient digital platforms.

Competitor Profile

Market Insights and Dynamics

The professional insurance market in Europe is valued at approximately €70 billion, with SMEs comprising 99% of all businesses. Despite their prevalence, SMEs often face challenges in accessing tailored and affordable insurance solutions, presenting a significant opportunity for insurtech companies like Orus.

Competitor Analysis

Orus operates in a competitive landscape with several notable players:

Healthesystems: Specializes in managing pharmacy and ancillary medical benefits for workers' compensation insurance payers.

Acclaim: Provides ability management services.

York Risk: Offers specialized claims and risk management services.

Granular Insurance: Focuses on insurance solutions for specific market segments.

Strategic Collaborations and Partnerships

Orus has established significant partnerships to enhance its offerings:

Wakam: Collaborated to co-construct the initial insurance product for restaurant owners, combining Orus's digital platform with Wakam's underwriting expertise.

Operational Insights

Orus's strategic approach involves:

Customer-Centric Products: Developing insurance solutions that address the specific needs of various SME sectors.

Digital Efficiency: Leveraging technology to streamline the insurance process, reducing time and complexity for clients.

Scalable Growth: Utilizing recent funding to expand product offerings and enter new markets, positioning Orus as a leader in professional insurance for SMEs.