European start-up Luko recruits chief actuary from Admiral France
Paris-based home insurance start-up Luko has appointed Julien Gigoi as chief actuary. Gigoi was most recently chief actuary at the direct-to-consumer insurance brand l’Olivier, the French counterpart of Admiral.
He will oversee all insurance and data activity at the young and rapidly growing company. His first priority will be to refine pricing and warranties with the aim of making them the fairest and best available on the market. He will develop new services and implement strategies to enhance the Luko customer experience.
In its first year Luko has acquired more than 20,000 customers in France and raised €20 million in Series A funding collectively from Accel, Founders Fund and SpeedInvest. Luko said it aims to become the European leader focused on delivering an online-only service focused on real-estate insurance and home services.
In partnership with Muchich Re, Luko announced in June 2019 that it would use satellites to capture imagery in order to better protect homes and evaluate the price of home insurance.
Co-founder and CEO Raphael Vullierme, said that Gigoi will bring cutting-edge expertise in data analytics from the motor insurance industry to home insurance market.
“Having Julien Gigoi is the natural step forward in building a category leader in every part of the value chain, from sensor to preventable damages, underwriting, distribution and repair network,” he said.
Julien Gigoi commented: ”In Europe, home insurance underwriting is 10-20 years behind motor insurance. I’ve been following Luko since their early days and I have been really impressed by the speed and their ability to execute their clear vision. Luko have gathered a unique pool of driven and talented individuals from both the tech and insurance industry to completely rewrite what is home insurance is. I am thrilled to bring my experience in data and portfolio building to the brand.”
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