Hello World : Choose transparency
Home insurance, a necessary evil?
There is a conflict of interest at the heart of the traditional insurance model: there is always a winner and a loser. When the insurer reimburses your claim, you win, he lost and vice versa. In fact, all the money that is not used to pay you back increases the insurer’s profits at the end of the year. That’s insurers make paying your claims such an obstacle course. Today in France, on average it takes 1.5 months to be reimbursed by your home insurance, and sometimes you aren’t reimbursed at all.
At Luko, we wondered if this was the only way to provide insurance. Starting from a blank page, we sought to create a more equitable model. An insurance would protect you, and bring you a solution quickly and simply when you have a claim.
Our point of departure is simple, full of common sense: life is better without disasters. So we made it our mission.
First we sought to prevent all claims that can be avoided, using the best of technology
But also, to propose a simple, transparent model that, at its core, focuses on the best of each of us and creates trust.
Our solution at Luko is to reinvent the insurance industry- to put it at your service, serving society.
1- We consider that the money you pay for your premiums is your money. We put it aside to pay your claims.
30% of your premium payments is used to manage your claims, and for Luko to provide you with the best protection technologies, and continue to innovate. All the rest is the left to be use for your future accidents. In concrete terms, the remaining 70% is placed in a mutual fund to quickly compensate policyholders when they file a claim. And to remove any temptation, the money remaining in the fund at the end of the year is donated to the charity you have chosen. Our service fees are fixed and transparent: they never depend on your claims or our repayments. We have no interest in not paying you back. It’s the Giveback.
2- We help you actively protect your home and prevent accidents.
Every year in Europe, there 1.5 million fire related accident, 10 million water damages and 1.7 million burglaries. But these statistics do not depict the memories that are lost when disasters like these occur.
What if the role of insurance was to prevent rather than cure? Instead of waiting passively for a disaster to happen, we help you actively protect your home. Our obsession is to constantly create and improve our products to detect all the signals of an imminent incident: fire, water damage, intrusion … So we help you protect your property and those that are dear to you.
If we succeed, one day you will no longer need insurance. In the meantime, we will be at your service, by your side, every day, at any time, to find a solution to your claims as soon as possible.
We strive to dispatch a locksmith on site in less than 2 hours or a repairer in less than 2 days, and to repay the majority of claims within 2 hours. Because this money is yours.We are more than a committed company, this is a movement we want to launch.
Luko makes a commitment to provide transparent and responsible insurance that truly protects you.
Now, to make this possible, we need you to build insurance at your service. So sign up, invite your family and friends, tell those around you. Together, let’s put the insurance industry back at the service of society.
Luko, the assurance of being well protected.
Originally published at https://www.luko.eu on May 31, 2018.
