Insurtech is a constantly evolving industry, and new innovative solutions are being dreamed up left and right by enterprising startups. One of the most ambitious of these insurtech startups, Luko, just saw its founding CEO, Adrien Cohen, step down to take the reins of his new venture, Lumo.
Luko was founded in 2016 and quickly gained traction thanks to its use of innovative technology to provide an auto and home insurance platform that was simple and accessible to a new generation of clients. In just over four years, Luko has grown to have almost 1 million customers, raised more than $100 million in funding and became the fastest growing insurtech in Europe with a staff of almost 250 strong.
While the departure of Adrien Cohen is a major change in leadership, the company has already found a replacement with Antoine Paillard, who has been with the company since its inception. Antoine is well-versed in the ins and outs of the industry and has been the head of the company’s insurance underwriting division. He is well positioned to continue the company’s current trajectory and provide an even better service to the company’s current and potential customers alike.
In terms of the future of Luko, the team has already set out on a mission to build a portfolio beyond the home and auto markets. They plan to offer services such as health, travel and life insurance. This diversification will ensure that the company is able to keep pace with the changing insurance landscape. They also want to sharpen their focus on the customer experience by providing personalized advice and support to individuals.
With the departure of Adrien Cohen, Luko will take a different approach to how it grows. Adrien was often described as a “pioneer” or “maverick,” but the company will now look to become even more focused and mature. It will also be an opportunity for Antoine Paillard and the rest of the team to showcase their skills and demonstrate how their strategy can continue to build upon the success of the company.
As the insurtech industry continues to evolve and become increasingly competitive, Luko’s new leadership team is more than ready to take on the challenge. With an innovative approach to the industry, a dedicated team and a clear focus on the customer, they are sure to make an impact on the future of the insurance industry.