Coya and Luko merge
The two insurtechs are now combining their insurance offerings.
The French start-up Luko is taking over the Berlin-based digital insurer Coya. The merged company will operate under the name Luko. The merger will make the Luko Group one of the largest digital insurance companies in Europe with over 200 employees and around 300,000 policyholders.
As part of the merger, Coya AG will be renamed Luko Insurance AG. The entire Coya team, including management and investors, will remain on board. The Luko Group intends to focus on the Berlin location and hire 50 new employees there.
Andrew Shaw founded Coya in 2016 with the vision of fully digitalized insurance. Coya now offers insurance solutions in the areas of household contents, personal liability and bicycles, insuring more than 80,000 people against damage. The start-up Luko, founded by Raphaël Vullierme in 2018, also offers insurance and suitable additional services for the home. Luko claims to be the fastest-growing digital insurer in France and has more than 200,000 customers.
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