Lumera expands into UK with acquisition of Ai-London

Swedish insurtech Lumera has announced it will acquire Ai-London, supporting its strategic expansion into new European markets.

Lumera, which helps European life and pension insurance providers to digitally transform their business, said buying Ai-London would be “instrumental” for its expansion into the UK and Ireland. It also said the company would “bring substantial additions to Lumera’s technology portfolio”.

When the deal is completed, Ai-London will become a fully integrated Lumera company.

Lumera CEO Mats Lillienberg says: “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 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.”

The Stockholm-based business now expects to leverage Ai-London’s existing technology to aid its efforts in building the world’s first AI-powered PAS.

“We are thoroughly pleased to be uniting with Lumera,” says Ai-London CEO Andrew Hubbard. “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 leading Nordic insurers.”