Local startup Lumnion, which develops artificial intelligence-based end-to-end insurance pricing platforms, announced that it received an investment of $1 million in the interim investment round.
Investment round of Lumnion, an artificial intelligence-based insurance pricing platform; Maxis Venture Capital Portfolio Management Inc. Innovative Venture Capital Investment Fund, Vakif Participation Bank Inc., OBBS Technology Inc. and Artificial Intelligence Factory (Is Bank) participated. This investment round will support Lumnion to further its main goal of making machine learning, new technologies and artificial intelligence usable in the insurance industry.
Speaking about this investment tour, Lumnion CEO Cenk Tabakoglu said;
“With this latest investment round led by Maxis Venture Capital Portfolio Management Inc. Innovative Venture Capital Investment Fund, we aim to accelerate the transformation of insurance pricing and our growth in key markets. We will further develop our artificial intelligence-based platform for the insurance industry, which has modules that work from actuarial risk modeling with new generation machine learning algorithms to field pricing management and behavioral pricing with external data. We will accelerate our work abroad and increase our customer acquisition in new markets.”
Source: Egirisim / Prepared by Irem Yildiz
