Conquering the home insurance market with Luko

The home insurance world is old fashioned, slow-moving, and full of established players. Which makes it hard to persuade people to switch to a new insurance provider. Luko’s here to change that.

Building a world-class product

Since day one, Luko’s done things totally differently. Its founders, Benoit and Raphaël, wanted to offer comprehensive home insurance for customers to protect themselves, their loved ones and their prized possessions at home. It’s a fast, powerful, ethical product that shakes up the market.

Customers can secure insurance with Luko in three clicks thanks to a beautiful user experience and slick, lightning-fast onboarding process. When the team decided to expand its payments offering with Primer, we discussed these disruptive design elements as part of our collaboration.

As Europe’s fastest-growing insurance company, Luko can’t rely on only one payments processor. And adding new and local payment methods is just one of the many payments challenges Luko’s team will face.

Gearing up for global expansion

Benoit decided the best way forward was to manage recurring payments through its own backend. This would also allow the company to have a unified subscription logic across all its PSPs, and give it flexibility over the payment services it uses as it keeps growing. 

“We’re still local, but we know that when we expand, it’ll be way faster and easier with Primer”

— Margaux Gregoir – VP Finance, Luko

With its eyes on international growth, Luko will have to constantly add new local payment methods and integrate new PSPs to optimise cost and authorisation rates, as well as ensure market coverage. But these integrations are complex and take time.

Luko needs a flexible payments infrastructure to seamlessly add new payment methods and providers as it grows. But in a competitive market, Luko’s team needs to be smart about where it allocates its resources. They don’t want to hire their own payments experts and worry about staying at the forefront of changes in the payments landscape.

“Primer’s not only a partner that helps us to expand – they also help us navigate the complexity of the payments landscape”

— Margaux Gregoir – VP Finance, Luko

One integration, endless connections

With Primer, Luko’s tech team only needs to make one integration. Thanks to Primer’s unified API, they can then rapidly add as many connections – PSPs, payment methods, accounting software and more – as they like in the future. This drastically accelerates Luko’s payments strategy.

“We should have implemented Primer from the beginning, before building our own PSP-agnostic backend”

— Benoit Bourdel – Co-Founder & CTO, Luko

As Luko continues to grow, the team will benefit from a unified view of all their payments from different PSPs, as well as billing and invoices. Our engineers and product team will be with them every step of the way, offering support over Slack to help Luko continue to expand.

As we stay on the leading edge of payments, it frees Luko up to focus on the most important thing: offering incredible home insurance to its customers.