Lumera, an InsurTech dedicated to the digital transformation of the European Life and Pensions industry, has entered an agreement to acquire Ai-London.
Founded in 1992, London-based Ai-London delivers an AI-driven, open and configurable platform to life and pension providers.
With the transaction completed, Ai-London will be a fully integrated Lumera company.
Lumera said its acquisition of Ai-London will support the strategic objectives for expanding into new markets and brings substantial additions to Lumera’s technology portfolio.
Additionally, it will be “instrumental” for the company’s expansion to the UK and Ireland markets, while investing in Ai-London’s vision to create the world’s first AI-powered PAS and adding digital engagement to Lumera’s policy administration environment.
Mats Lillienberg, CEO of Lumera, said, “Entering the UK, the world’s second-largest life insurance market, is an essential part of our European expansion strategy, and doing so by joining forces with Ai-London is an opportunity we wouldn’t want to miss.
“We see a strong cultural fit between our organizations, including a common mission to “The Prudent Revolution” to the Life and Pensions industry. Our respective technology portfolios are highly complementary, with Ai-London adding digital engagement capabilities that will certainly appeal to Lumera’s customers.”
Getlife, a Madrid-based InsurTech startup, raised $6.3m in a seed funding round earlier in May led by French VC Singular. The company’s mission is to “protect what matters most”, by offering fair and modern insurance products to families, and shake up a billion-euro sector.
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