Lumnion
Lumnion is a Munich-based insurtech that builds an AI-driven end-to-end pricing platform for non-life and health insurance carriers, delivered as five modular SaaS components (data prep, risk modeling, scenario analysis, rate engine, and external data enrichment) to enterprise insurers in Turkey and Europe.
- Company typePrivate
- Founded2019
- HeadquartersMünchen, Germany
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Lumnion does
Lumnion (legal entity Lumnion GmbH) is a Munich-based insurtech company founded in 2019 that builds an AI-driven end-to-end pricing platform for non-life and health insurance carriers. Its offering is structured as five integrated but independently activatable modules — Bee (automated data preparation and earned-premium calculation), Cheetah (risk pricing and actuarial modeling using ML algorithms such as XGBoost, Random Forest, Decision Tree, GLM, and GAM), Dolphin (commercial price management and scenario analysis), Pricing Engine (a no-code rate engine with API integration), and Octopus (GDPR-compliant external data enrichment for a 360-degree customer view). The platform's central technical differentiator is a proprietary ML transparency methodology that converts black-box algorithm outputs into interpretable base prices and coefficients, allowing actuaries to deploy advanced ML inside legacy core insurance systems.
The company operates a sales-led enterprise GTM targeting insurance carriers in Turkey and the DACH region, with field sales, conference presence at events such as DAV, insurenXT, DIA, and ITC, plus a free-module funnel on its website. Revenue is generated via SaaS subscriptions on a modular basis, available as cloud or on-premise deployment; pricing is not publicly disclosed. As of the available data, Lumnion lists approximately 17 enterprise customers including Allianz, Cigna, HDI, AgeSA, Aksigorta, Ana Sigorta, Türkiye Sigorta, and Neova, and has raised roughly $9.9M across six disclosed funding rounds from 2021 through 2024, led by Maxis Girişim Sermayesi Portföy Yönetimi, OBSS Ventures, and KT Portföy. Operations span offices in Munich (HQ), Istanbul (including an R&D presence at İTÜ ARI Teknokent), and Cologne.
Lumnion firmographics
Firmographics- Name
- Lumnion
- Legal name
- Lumnion GmbH
- Website
- https://lumnion.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Lumnion is a Munich-based insurtech that builds an AI-driven end-to-end pricing platform for non-life and health insurance carriers, delivered as five modular SaaS components (data prep, risk modeling, scenario analysis, rate engine, and external data enrichment) to enterprise insurers in Turkey and Europe.
- Ownership category
- akta.pro rank
Lumnion industry classification
Industry- Product category
- Insurance Pricing Software
- NAICS
- Computer Systems Design and Related Services (54151), Custom Computer Programming Services (541511)
- SIC
- Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)
- akta.pro secondary industry
- Financial Services Personalization (Banking, Investing, Insurance) (HDAAAGAH)
Keywords
Where Lumnion is headquartered
LocationHeadquarters
- HQ city
- München
- HQ country
- Germany
- HQ region
- Europe
Offices4 records
Markets served
Lumnion business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS Platform Subscription: Lumnion operates as a SaaS platform with modules (Bee, Cheetah, Dolphin, Engine, Octopus) that can be activated separately at different times. The platform is available both as cloud-based solution and on-premise deployment, with the on-premise option ensuring all data stays within the customer's company.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Lumnion product offering
Product offeringCore offering
Lumnion develops an AI-driven end-to-end insurance pricing platform for non-life and health insurance carriers, comprising five integrated modules: Bee for automated data preparation and earned premium calculation, Cheetah for ML-based risk pricing and actuarial modeling (XGBoost, Random Forest, Decision Tree, GLM, GAM), Dolphin for commercial price management and scenario analysis, Pricing Engine for tariff management with API integration, and Octopus for external data enrichment. The platform is sold as a modular SaaS or on-premise deployment with API integration into legacy core systems.
Product overview
Lumnion develops a unified AI-driven end-to-end insurance pricing platform for the Non-Life and Health Insurance Industry. The platform consists of five integrated modules: Bee (automated data preparation and earned premium calculation), Cheetah (risk pricing and actuarial modeling with ML algorithms), Dolphin (scenario analysis and commercial price management), Pricing Engine (rate engine for tariff management), and Octopus (external data enrichment for customer 360-view). The modules can be used independently or together, with the platform connecting to any core insurance system via API, automating data preparation, and using ML extensively for accurate risk pricing, impact analysis, and dynamic pricing.
Differentiator
Problem solved
Functional benefit
Products and services
- Bee Automated data preparation and earned premium calculation module that prepares ML-ready data without code, handles period-based calculations, and processes data from Excel, SAS, CSV, and database sources for insurance pricing.
- Cheetah Risk pricing and actuarial modeling module that performs multi-algorithm ML analysis (GLM, GAM, XGBoost, Random Forest, Decision Trees) with proprietary transparency features that convert ML outputs into interpretable base prices and coefficients for insurance actuaries.
- Dolphin Commercial price management and scenario analysis module that enables portfolio analysis with embedded KPIs, an integrated rule engine for tariff pricing, automated micro-segment detection with ML, and business intelligence visualization including geographical mapping.
- Pricing Engine No-code rate engine module for tariff management that applies pricing rules and calculations in microseconds via API integration, manages tariffs hierarchically with rule pools, and enables instant pricing with multiple tariff combinations.
- Octopus External data enrichment module that enriches internal data with GDPR-compliant aggregated statistical data from trusted sources, enables customer segmentation for portfolio management, and provides a 360-degree customer view by combining internal and external non-insurance data.
Quantifiable outcome
- Insurance companies report poor customer retention rates of up to 9% and higher loss ratios in new business of up to 5% due to ineffective pricing.
- +2 more outcomes
Companies that use Lumnion
Customer profileNamed customers17 records
Segments2 records
Ideal customer profiles1 record
Lumnion technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability5 records
Feature8 records
Lumnion partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- InsurLab GermanycoreLumnion participated in InsurLab Germany Batch #22 accelerator program and Demo Day. Germany's pioneering industry platform connecting insurance companies with innovative startups.
- InsurTech Hub MunichminorPartner logo shown in global partnerships section. Supports innovation and digitalization in German insurance industry.
- İTÜ Çekirdek Kuluçka Merkezi (İTÜ Startup Center)minorPartner logo shown in global partnerships section. İTÜ startup incubation center in Istanbul.
- Yapay Zeka Fabrikası (AI Factory)minorPartner logo shown in global partnerships section.
- EndeavorminorPartner logo shown in global partnerships section. Global entrepreneur support organization.
- EYminorPartner logo shown in global partnerships section.
- InsureTech Connect (ITC)minorPartner logo shown in global partnerships section. World's largest InsurTech network.
- Insurtech UKminorPartner logo shown in global partnerships section.
- TH Köln (Cologne University of Applied Sciences)minorPartner logo shown in global partnerships section. Lumnion delivers lectures at TH Köln for Risk and Insurance bachelor program students on pricing topics.
- IVW KölnminorPartner logo shown in global partnerships section.
- Digital Insurance Agenda (DIA)minorPartner logo shown in global partnerships section. Europe's leading insurance innovation festival.
- Euro Asian Startup AwardsminorPartner logo shown in global partnerships section.
- Tech Rocketship AwardsminorPartner logo shown in global partnerships section.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Lumnion competitors and assessment
Company assessmentDirect peers
- Akur8: Akur8 is a Paris-based insurtech that provides AI-driven insurance pricing and ratemaking software for P&C and health insurers. It is the most direct head-to-head competitor to Lumnion, with a comparable transparent ML pricing engine and an overlapping carrier customer base across Europe.
- hyperexponential (hx): hx is a London-based pricing decision platform for commercial and specialty insurers, combining ML modeling, rate deployment and portfolio monitoring. It competes directly with Lumnion's Cheetah, Dolphin and Pricing Engine modules for enterprise pricing transformations.
- Earnix: Earnix is an established provider of AI-based rating, pricing and personalization software for insurance and banking, including a no-code rate engine and ML-driven demand modeling. It directly overlaps with Lumnion's Cheetah, Engine and Octopus capabilities and competes for the same carrier RFPs.
Emerging players
- Cytora: Cytora applies AI to commercial insurance underwriting and risk evaluation, targeting carriers with workflow automation that complements pricing. While more underwriting- than pricing-focused, it competes for the same AI-native innovation budget at progressive insurers evaluating Lumnion.
- Planck: Planck is an AI data platform for commercial insurance that automates underwriting data ingestion and risk scoring. It is comparable as an emerging AI-native insurtech serving carrier customers with adjacent automation and external data use cases overlapping with Lumnion's Octopus module.
Broad incumbents
- Duck Creek Technologies: Duck Creek is a leading core insurance SaaS suite for P&C insurers including policy, billing and rating. As an established carrier platform, it competes for the same transformation wallet and increasingly embeds ML rating features that overlap with Lumnion's Pricing Engine.
- Guidewire Software: Guidewire is the dominant core insurance platform for P&C insurers, with rating and underwriting workbenches that compete for the broader insurance IT budget. Carriers evaluating Lumnion often benchmark against Guidewire's pricing and data capabilities.
- SAS Institute: SAS provides analytics, actuarial modeling and risk software widely used by insurers (Lumnion explicitly ingests SAS data formats). It is a broad incumbent whose insurance analytics suite overlaps with Lumnion's Cheetah modeling module and competes for actuarial seat-based budgets.
- Willis Towers Watson (WTW): WTW's Insurance Consulting & Technology business delivers actuarial software and pricing advisory to global insurers, including Radar and ResQ rating tools. It competes with Lumnion where insurers outsource pricing transformation end-to-end rather than buying point software.
- Insurity: Insurity is an established SaaS provider for P&C insurers with policy administration, rating and analytics capabilities. It competes with Lumnion for mid-market carrier pricing modernization deals where bundled core-plus-rating solutions are preferred over standalone tools.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Lumnion social profiles
Digital presenceLumnion compliance and trust
Trust signalCompliance4 records
Lumnion financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lumnion leadership team
Management profileNumber of profiles
Profiles4 records
Lumnion funding detail
Funding detailFunding overview
Funding rounds6 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lumnion M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lumnion
What does Lumnion do?
Lumnion develops an AI-driven end-to-end insurance pricing platform for non-life and health insurance carriers, comprising five integrated modules: Bee for automated data preparation and earned premium calculation, Cheetah for ML-based risk pricing and actuarial modeling (XGBoost, Random Forest, Decision Tree, GLM, GAM), Dolphin for commercial price management and scenario analysis, Pricing Engine for tariff management with API integration, and Octopus for external data enrichment. The platform is sold as a modular SaaS or on-premise deployment with API integration into legacy core systems.
Is Lumnion a public or private company?
Lumnion is a private company. It is classified as venture growth investor backed and is currently operating.
When was Lumnion founded?
Lumnion was founded in 2019. It employs 11 to 50 people.
Where is Lumnion based?
Lumnion is headquartered in München, Germany, in the Europe region.
How does Lumnion make money?
One revenue line is on record: saaS Platform Subscription.
Who are Lumnion's main competitors?
Direct peers on record are Akur8, hyperexponential (hx) and Earnix. Emerging players are Cytora and Planck. Broad incumbents are Duck Creek Technologies, Guidewire Software, SAS Institute, Willis Towers Watson (WTW) and Insurity.
Does Lumnion have an API?
Yes. Lumnion's Pricing Engine offers API integration capabilities, enabling seamless connectivity with core insurance systems. The API retrieves quotation data from core systems and applies mathematical formulations with written rules in microseconds. The platform provides integration with legacy systems through robust APIs, facilitating effortless connectivity and data exchange across the insurance ecosystem.
What industry is Lumnion in?
Lumnion's product category is Insurance Pricing Software. Its primary akta.pro industry code is FSAGAGAB, Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS), with a secondary code of HDAAAGAH, Financial Services Personalization (Banking, Investing, Insurance). Its NAICS code is 54151 and its SIC code is 7373.