Page 16 - Insurance Times July 2019

International

UK gets two new health Munich Re partners with French satellite imagery home
insurance products insurer, Luko
Global healthcare provider MEDIGO Global reinsurance giant Munich Re has partnered with French InsurTech Luko
has re- on the launch of its artificial intelligence
cently an- (AI) driven satellite imagery home insur-
nounced ance.
that it
The InsurTech has developed new tech-
w o u l d
nology that it says is the world's first
l a u n c h
customised home insurance solution.
two health insurance products,
Luko has highlighted the fact that to in-
namely, GLOBALCOVER and
sure a home one must answer a huge
GLOBALCARE, for its UK market.
amount of questions that describe the
GLOBALCOVER is a treatment-based house, adding that even with new technology, the determining of insurance
insurance for major illness that offers premiums remain very theoretical.
cancer treatment, heart surgery, neu-
Luko plans to change this, and via the use of AI and satellite imagery, the
rosurgery and live-organ transplants.
InsurTech says that after filling in an address, the satellite image of the house
It provides treatment-based cover
instantly appears, with the user then prompted to select their plot. Following
rather than a lump-sum payout.
this, advanced AI then automatically detects roof surface, ground surface, the
GLOBALCARE is a health services inclusion of a swimming pool and other variables.
subscription for second medical
Luko also recommends a risks reporting associated to the house, including risks
opinions and medical concierge. It is
relating to flooding, land, the industrial environment or burglaries. Luko claims
designed to meet the needs of pa-
that in just two minutes the user is presented with a tailor-made insurance
tients who self-pay for treatment
solution. The firm's data scientists spent 12 months making sure that this plat-
and provides personal support and
form is efficient, reliable and easy to use.
logistics for medical treatment book-
ing in 35 countries. "Today, you're facing 50 questions and 10 minutes of form-filling just to get a
theoretical price based on potential claims. The use of artificial intelligence and
"We are thrilled to be able to open
aerial imagery allows us to: make insurance simpler, more scientific and fairer;
up our services to a new market and
to proactively offer protection advice for your home and to reimburse insurees
hope to help more people gain
more quickly," said Raphaël Vullierme, Chief Executive Officer (CEO) and co-
peace of mind that they'll get the
right medical treatment when they founder of Luko.
need it," said Ugur Samut, Medigo Munich Re's Senior Innovation Manager, Patrice Cohen, said, "We were
CEO. "These products are great for immediately impressed by Luko's technological and customer centric approach,
employers who are looking for smart which will certainly bring the innovation and simplicity that the consumer
ways to make their health benefits expects. Luko's growth and rapid execution is part of building the insurance of
relevant," said Bruce Eaton, Medigo tomorrow, a transparent insurance that prevents accidents and resolves them
Managing Director, UK.
quickly."
16 The Insurance Times, July 2019