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Luko (company)

Luko (company)

Luko is a home insurance company that uses technology to streamline the process of getting home insurance and making claims. It is located in Paris, France and was founded in 2016.

Luko is a European digital home insurance company based out of Paris, France. It charges a flat fee of 30% of the insured party's premium. It has one of the lowest operation rates on the home insurance market and Luko is able to do this due to its use of artificial intelligence in place of administrative staff.

Product

Luko provides insured parties with artificial intelligence sensors that can monitor water, electric, and door disturbances to aid in preventing a disaster in insured parties' homes. The stated goal of the use of these devices is to identify and prevent disasters.

In the event that an insured party does need to file a home insurance claim, the company has streamlined the process in order to do so. According to the website, the insured person can digitally become insured prior to any incidents in two minutes, get paid in two hours in the event of a plausible home insurance claim, and have a repair person to their home to clean and fix the damages in two days.

Social Impact

At the end of each year, Luko takes any money remaining from the insured parties (minus the flat fee of 30% that Luko takes out of the premium and any claims that have been filed over the year) and donates it to a charity of each insured person's choice, such as Simplon or Terre and Humanisme.

Timeline

December 2020
Luko raises a $50,000,000 series B round from Accel, EQT Ventures, Speedinvest and Tokyo Founders Fund.
November 2019
Luko raises a $20,000,000 series A round from Accel, Founders Fund and Speedinvest.
May 5, 2018
Luko gets investment seed

Luko raised €2,000,000 in funding in one round.

December 12, 2016
Luko is founded

Raphael Vullierme founds Luko in Paris, France.

Funding rounds

People

Name
Role
LinkedIn

Benoit Bourdel

CTO

Constance Caillaud

Head of Growth and Operations

Marion Beaufrère

Head of product

Raphael Vullierme

CEO and Co-Founder

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Luko - Cnews - La chronique High

September 27, 2017

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Connor Bilboe
March 18, 2021
Sifted
Which of Europe's sustainability-focused B Corp startups are building up their teams the quickest?
Callum Burroughs and Martin Coulter
February 20, 2021
Business Insider
More than $7 billion was invested in insurtech startups globally last year.
Romain Dillet
December 7, 2020
TechCrunch
French startup Luko has raised a $60 million Series B funding round (€50 million). The round is led by EQT Ventures, with existing investors Accel, Founders Fund and Speedinvest also participating. Some angel investors with a background in insurance and technology are also investing in the startup, such as Assaf Wand, the co-founder of Hippo [...]
Callum Burroughs
December 7, 2020
Business Insider
Luko claims to have grown 6x since its last funding round despite the impact of Covid-19.
Romain Dillet
December 7, 2020
TechCrunch
French startup Luko has raised a $60 million Series B funding round (€50 million). The round is led by EQT Ventures, with existing investors Accel, Founders Fund and Speedinvest also participating. Some angel investors with a background in insurance and technology are also investing in the startup, such as Assaf Wand, the co-founder of Hippo [...]
Annie Musgrove
December 6, 2020
Tech.eu
French insurtech company Luko has raised €50 million in Series B funding led by EQT Ventures. Existing investors Accel, Founders Fund and Speedinvest also participated in the round, alongside angels with insurance and technology backgrounds, including Assaf Wand, the CEO and co-founder of US unicorn Hippo Insurance. The startup, which offers home insurance to renters [...]
Shift Technology
November 24, 2020
www.prnewswire.com:443
/PRNewswire/ -- Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry today announced its...
Romain Dillet
November 18, 2019
TechCrunch
French startup Luko has raised a $22 million Series A round led by Accel (€20 million). Founders Fund and Speedinvest are also participating in today's funding round. When you rent a place in France, you have to provide a certificate to your landlord saying that you are covered with a home insurance product. And, of [...]

References

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