Overview
Lumnion is an AI-based pricing platform for non-life and health insurance carriers, providing end-to-end automation across data preparation, risk pricing, impact analysis, and dynamic pricing. The company was founded in 2016 by Eray Alpan and Aren Haddeler, and is headquartered in Cologne, Germany, with offices in Istanbul and Munich.
The platform delivers five modular components -- covering data preparation, risk and actuarial modeling, commercial price management, rate engine execution, and data enrichment -- all accessible via cloud API and designed to integrate with any core insurance system. Machine learning algorithms including XGBoost, Random Forest, GLM, and GAM underpin the risk pricing models, while audit-traceable reporting and geographical visualization tools allow underwriters and actuaries to inspect and validate outputs.
Lumnion serves 200+ insurance company customers globally, including carriers such as Allianz, Cigna, and HDI. The company has raised USD 1.55M in seed funding, with its most recent round in August 2024 led by Maxis Venture Capital. Lumnion holds AWS Qualified Software Partner status and has a joint ML modeling partnership with EY.
Products & Services
Bee
Automated data preparation and earned premium calculation -- automates the ingestion and transformation of underwriting data to enable more efficient pricing workflows.
Key Features
- Automated data preparation pipelines
- Earned premium calculation
- Data quality validation
Target Users: Actuaries, underwriting data teams
Cheetah
Risk pricing and actuarial modeling tool that uses machine learning algorithms to generate transparent risk assessments and price coefficients that underwriters can audit.
Key Features
- ML algorithms: XGBoost, Random Forest, Decision Tree, GLM, GAM
- Audit-traceable model outputs
- Micro-segment detection
Target Users: Actuaries, pricing analysts
Dolphin
Commercial price management and scenario analysis module that allows insurers to test pricing strategies and evaluate their impact before deployment.
Key Features
- Pricing scenario testing
- Impact analysis reporting
- Geographical visualization
Target Users: Pricing managers, actuarial teams
Engine
Core rate engine that converts machine learning models into operational pricing rules and rates, bridging model development and production execution.
Key Features
- ML model operationalization
- Rate execution
- Core system integration via API
Target Users: IT and actuarial teams
Octopus
Data enrichment module that supplements internal underwriting and claims data with external sources to build a more complete view of risk.
Key Features
- External data source integration
- 360-degree customer view
- Risk enrichment for underwriting and claims
Target Users: Underwriters, data teams
At a Glance
- Founded
- 2016
- Headquarters
- Cologne, Germany
- Employees
- 11-50
- Funding
- Seed
Category & Focus
- Category
- Underwriting & Risk
- Subcategories
- Actuarial Pricing AI/ML Risk Modeling Dynamic Pricing
- Insurance Verticals
- P&C Commercial P&C Personal Health
- Target Customers
- Carriers
Customers
- Allianz
- Cigna
- HDI
- NN Hayat Emeklilik
- Aksigorta
- AgeSA
- Ana Sigorta
- Aveon
- Eureko Sigorta
- Fiba Sigorta
- Magdeburger
- Mailo
- Neova
- Türkiye Sigorta
- Unico Sigorta
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Last updated: 2026-05-17