Our newest partner Lukango, have secured £275K pre-seed investment for their startup-up insurtech
Insurtech Lukango has closed a £275,000 pre-seed investment round for its insurance policies aimed at small businesses, in the UK.
Lukango offers two products: “Fix” a set price plan and “Flex,” which charges based on the size of a business for a range of policies such as public liability, employers’ liability and product liability, utilising some exciting technology from Cooper Rose Digital.
Joanne Safo, CEO and founder, said: “We set out to champion the underserved micro business community and change the face of the insurance industry and are incredibly proud to have the backing of experienced investors that truly believe in our vision.”
Backers in the Lukango pre-seed include the previous CEO of Bupa and board member of Admiral Group Evelyn Bourke, the founder and ex-CEO of Digital Partners Andrew Rear, and former senior advisor to the Nasdaq, Mark Hunt.
The London-based insurtech was founded last year by Joanne Safo. Before this, she previously worked as a director for Orisa Consultancy an insurance and technology consulting firm and at Digital Partners.
Safo added: “Our skills in the use of technology in the insurance industry and innate strategic, scaling and execution capabilities are significant assets on our journey to better serve today’s microbusiness owners.”
Cooper Rose Digitals Co-Founder Daniel Longhi said: "We feel extremely privileged to have been chosen as the InsurTech partner for Lukango. Our core drivers and USP of being transparent, flexible and willing to push the boundaries of how we use technology have really stood us apart. This innovative system that we are building together, is really going to strive for a new way to distribute and underwrite insurance in this targeted SME product. I cant wait to see the case studies and customer engagement feedback once launched. Lukango have an amazing team, with a clear vision on how to improve the way insurance is distributed and underwritten, making their policies clear and transparent for the audience. A real game chancer in this line of insurance! "