Lukango, a London-based startup specializing in insurtech services, raised £275,000 before launching their service. Their funding was closed by investors including Evelyn Bourke, a board member of Admiral Group Mark Hunt and the former CEO of Bupa Andrew Rear. Additionally, Inbotiqa’s Mark Hunt and Nasdaq’s Senior Advisor was an investor in the startup.
Plans To Launch Tailored Products
Lukango plans to use their investment to launch and develop their products more quickly.
Lukango CEO Joanne Safo said that the company’s goal is to become the standard for all business insurances. She emphasized that the company’s leadership team and investors believe in them. Safo added that the company’s technological expertise in the insurance industry as well as their experience in scaling and executing projects make them very valuable assets on their journey. The other assets they have are a passion for innovation, creating teams and supporting humanity through business insurance.
Insurtech Aimed At Microbusinesses
Lukango is a company formed by Joanne Safo, Mark Dennis and Selina Bilton after they joined forces to create Munich Re’s Digital Partners business. These three individuals had decades of experience working in the insurances sector and created Lukango to focus on microservices.
The company was created with the intention of providing a new way for microbusiness owners to interact with insurances products. This is done by focusing on digital-native customers and making them the focus of the insurer’s experience.
Lukango’s innovation is seen in their approach to business protection. Combining accessibility of their platform, wide range of products and diverse community, Lukango provides accessible protection options for small business owners. Their data-driven approach allows customers to change the amount of protection they need as their business grows. This also allows them to take advantage of smart algorithms and data to ensure that customers are protected at all times. By combining these unique characteristics, Lukango creates a dynamic partnership model that lacks in many other products.
Offers Two Products For Small Businesses
Lukango provides comprehensive business insurance for small companies. Their Flex program adapts to a business’ growth to help users pay only what they need to. Also, there’s a fixed price product that helps users plan ahead with their finances.