Luko already insures more than 1,000 buildings, representing more than 10,000 lots, under the co-ownership and building insurance contract (MRI insurance), just one year after the launch of its product.
Launched in May 2021, MRI Luko insurance now has 1,000 insured buildings representing more than 10,000 lots throughout France: housing, business premises, shops, cellars, etc.
Highlighting Luko’s attractiveness and strength of recommendation, business has mainly developed through word of mouth and a very active partnership strategy. To publicize this activity, Luko has entered into partnerships with software publishers specializing in condominium management, professional condominium trustees, single-ownership investment players or online comparators. Thanks to this diversification of distribution channels and its local network developed throughout the territory, Luko covers buildings insured by MRI for 30% in major cities and 70% in the regions.
What explains this success?
The development of the MRI activity was based on the fundamentals that make Luko’s success in home insurance or borrower’s insurance:
- Price attractiveness: up to 50% cheaper compared to prices found on the market
- 100% online subscription simplicity
- The ease of management with the declaration of claims via the Luko customer area, which represents a considerable time saving for the trustees and the co-owners
- Greater responsiveness thanks to customer service that supports policyholders from their customer space or the co-ownership extranet – including at weekends. A dense network of craftsmen and partner experts allowing rapid repairs throughout the territory, including thanks to an initial video diagnosis
- Guarantees offered above the market standard, such as Legal Protection included, coverage of unpaid co-ownership, etc.
- The choice of transparent insurance with a fixed remuneration model
Ambitious development goals on the MRI
MRI insurance is a market of 1.1 billion euros in France and 720,000 private condominiums (excluding social landlords). Dominated by large insurers and brokerage firms, this insurance is known for the opacity of its prices and its operation which is materialized by the heaviness of its management and a lack of responsiveness in the processing of claims. Few services are offered to simplify the lives of users, trustees or co-owners, and save them time on what is most essential. In addition to saving all co-owners savings, Luko’s MRI insurance also considerably optimizes the management and compensation of claims by reducing the number of operations and intermediaries, a real revolution in this market. sometimes portrayed as archaic.
On the strength of this observation and an agile and responsive service, acclaimed by users for a year, Luko aims to double its number of buildings and plots covered by the end of 2022, thus aiming for organic growth of 100% over the year. .
A stronger presence on the real estate market following the acquisition of Unkle
A specialist in rental guarantee solutions for landlords and tenants, Unkle joined the Luko ecosystem in March 2022. With 20,000 customers, Unkle facilitates access to housing by acting as guarantor for the tenant in order to consolidate its file. rental and increase their chances of getting the apartment of their dreams. The insurtech also protects the owner in the event of non-payment, allowing him to choose his tenant serenely.
For the development of MRI insurance, Luko already relies on the network of more than 1,000 real estate agencies that are partners of Unkle.
For Raphaël Vullierme, CEO and co-founder of Luko: “Co-ownership and building insurance (MRI) was requested by our clients. Its development has been very rapid and we now offer a product that is acclaimed by our customers. It completes our offer very well and positions us perfectly as a key player in protection and services for households and real estate professionals. More than ever, we will continue to innovate to strengthen our leadership in Europe in neo-insurance.”