Luko was founded by Raphaël Vullierme (HEC Entrepreneurs 2014), serial entrepreneur (OpenJet and GoodFood) Rocket Internet alumni, alongside Benoît Bourdel (X 2016), specialist in deep learning and smart energy networks. Together, they combined their passion and expertise to create a company whose innovative and transformative model seeks to innovate upon the inefficient and flawed business model of home insurance, and have a positive impact on the daily lives of millions of Europeans. Luko’s revolutionary home insurance is simple : customers get covered in 2 minutes, claims paid in 2 hours, and repairman’s visit your home in 2 days. Offering a new transparent and responsible model, Luko transforms insurance core business model to align the interests of the tenant and the insurer. The company provides AI and ‘plug&play’ smart devices that monitor consumptions in order to identify and prevent disasters, such as flooding or fire.
  • Luko is the first European insurance company that doesn’t make money by denying claims.
  • Luko provides its own AI powered connected devices to predict and prevent disasters.
  • Luko raised 2 million euros in funding from insurance, IoT & Telco industry experts.
  • There are already 1,100 Luko-protected households in 10 european countries.
  • Get insured today in 2 minutes, by only answering 5 questions on
The French startup Luko recently raised a $2 million in funding, led by Xavier Niel (Founder of Free), Bruno Rousset (Founder of April Insurance), and various angel investors including Hiscox former European CEO, AXA CMO, eFounders partner and IoT serial entrepreneur, contributed. Founded 18 months ago, the company’s first focus was on building deep learning-powered, plug&play, and low-cost sensors to prevent home disaster. Luko AI analyzes home consumption (electricity, water and soon gas) and activity (opening of doors, temperature, and humidity) to detect and prevent potential home accidents, such as water flooding, fire, home intrusion…
Changing insurance core model to end conflicts of interests.
Only 2 months after its launch, Luko started collaborating with leading European insurers. Through this, Luko’s founders quickly realised that most insurers have lost the trust of their clients and were not willing to invest upfront to reduce future risk to their customers. The current insurance model is based on a foundational conflict of interest. The customer wants their claims paid, the insurer wants to pay as little claims as possible. In the traditional insurance model, the more claim insurers deny the more money they make. The insurers’ and the customers’ interest are in direct opposition.
Europeans today are frustrated with their home insurance, on average only 50% say that they are satisfied with their current policy. While home insurance is mandatory for every french renter, they often see insurance companies as their adversaries, who make it difficult or impossible to get their claims paid completely or quickly. In response, Luko is redefining the insurer/policyholder relationship with the implementation of a transparent and socially responsible model. Luko uses only 30% of customer payments to manage claims, provide active protection services and cover operation costs. The remaining 70% is dedicated to a common fund which is used to quickly compensate customers in response to their claims. At the end of the year, the balance from this common fund is paid to a charity or cause chosen by the insured. Luko therefore has no financial interest in slowing or preventing compensation payments. Luko’s income is fixed and transparent.
“The interests of Luko and our policyholders are aligned, and everyone wins. Luko is the first european insurance that does not profit by delaying or withholding customer claims” says Raphael Vullierme, co-founder and CEO of Luko.
AI powered protection to guarantee peace of mind.
Each year, european households experience over 10 million incidents of water damage, 2 million burglaries and 2 million fires. “Home insurance like it is today, is inefficient partial solution to those hazards. Luko uses AI to tackle the root of risk and keep your home safe 24/24” says Benoît Bourdel CTO and co-founder of Luko. Luko has made strong initial progress, covering over 1,100 homes throughout Europe. By controlling hardware design, deep learning, risk assessment, pricing and claim management, the company reduces intermediary inefficiencies and costs. Building comprehensive solution allows Luko to speed up development and offer a cheaper home insurance. For example on average, for a 50 m2 apartment, customers save 15% more than with traditional insurers. Luko offers a premium service bringing tangible outcomes in the daily life of tenants.
Savings and Peace of Mind for Customers
“Home insurance is a 90 billion euro market in Europe, and almost nothing has changed over the last 40 years,” explains Pierre-Yves Durand, Luko’s investor and former Axa Group CMO. “The majority of innovations have consisted of selling insurance contracts online without substantially modifying the products offered or creating plans that proactively protect policyholders. I was immediately convinced by Luko’s vision and execution capacity, which radically changes the insurance model and concretely and actively protects its policyholders. ” Raphael and Benoît have designed a simple, transparent and socially responsible insurance structure that promises, through an alignment of interests, to truly protect both you and your home, while lowering your overall costs and increasing efficiency and responsiveness. Associated with the largest European re-insurers, Luko is now available at for all apartments in France, and will be available for the United Kingdom and Germany in the coming months!
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