Lumera acquires Ai-London as it continues European expansion - The EE

Lumera acquires Ai-London as it continues European expansion

Stockholm, Sweden. 25 May 2022 – Insurtech company Lumera, has agreed to acquire Ai-London, insurtech experts in delivering AI-driven, open and configurable platforms to life and pension providers. Lumera is focused on digital transformation of the European Life and Pensions industry. Terms of the deal have not been disclosed.

With the transaction completed, Ai-London will be a fully integrated Lumera company. The rationale for Lumera’s acquisition of Ai-London is twofold: It will support the strategic objectives for expanding into new markets and brings substantial additions to Lumera’s technology portfolio.

“Entering the UK, the 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,” says Mats Lillienberg, CEO of Lumera. “We see a strong cultural fit between our organisations, 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.”

Founded in 1992, London-based Ai-London adds experience from UK, Ireland and several international markets. Leveraging Ai-London’s existing offering, Lumera expects to accelerate “The Prudent Revolution” and create the AI-Powered PAS.

“We are thoroughly pleased to be uniting with Lumera,” comments Andrew Hubbard, CEO, Ai-London. “This match brings long-term positive implications for our customers and enables us to serve more and even larger insurers with our AI-powered PAS offering. We are equally impressed by Lumera’s modern technology stack and the professionalism of their team, including an excellent track record from successful implementation and migration projects for the Nordic insurers.”

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