
Lumnion is a state-of-the-art AI-driven pricing platform for the Non-Life and Health Insurance industry. It automates data preparation and risk modeling using various machine learning algorithms, including XGBoost and Random Forest. The platform offers transparency in machine learning outcomes, enabling actuaries to make informed decisions. With a focus on improving pricing accuracy and efficiency, Lumnion integrates seamlessly with core systems and provides a comprehensive view of customer data. The company aims to revolutionize the insurance pricing process through innovative technology and has established partnerships with industry leaders to enhance its offerings.

Lumnion is a state-of-the-art AI-driven pricing platform for the Non-Life and Health Insurance industry. It automates data preparation and risk modeling using various machine learning algorithms, including XGBoost and Random Forest. The platform offers transparency in machine learning outcomes, enabling actuaries to make informed decisions. With a focus on improving pricing accuracy and efficiency, Lumnion integrates seamlessly with core systems and provides a comprehensive view of customer data. The company aims to revolutionize the insurance pricing process through innovative technology and has established partnerships with industry leaders to enhance its offerings.
Product: AI-driven end-to-end pricing platform and rate engine for P&C and Health insurers
Tech: Supports XGBoost, Random Forest, Decision Tree, GLM, GAM; transparency methods for black-box models
Team size: 22 employees (reported)
Funding: Seed stage; disclosed investment activity including a March 8, 2024 entry
Insurance pricing and rate engineering for property & casualty and health insurance
Insurtech
March 8, 2024 investment entry lists Vakif Katilim as a lead investor
“Named investors include Maxis, OBSS Ventures, and Vakif Katilim”