Luzern Risk, a captive platform formerly known as XN Captive, has secured $12m from Caffeinated Capital in its Series A raise.
The funding is aimed at speeding up the company’s efforts to modernise the captive insurance sector, particularly for underserved middle-market businesses.
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The company offers an integrated, digital captive insurance solution that merges software with industry expertise to provide businesses with control over risk, capital and performance.
Luzern Risk’s platform is designed to make the ownership of captive insurance more accessible and to streamline the decision-making process for its clients with its all-in-one platform.
It supports every aspect of the captive life cycle, including initial analysis and ongoing management, for both new and existing captive owners, as well as for agencies and programme partners.
Luzern Risk CEO and co-founder Gabriel Weiss said: “Captives have always been a powerful lever for insurance control, but until now they have remained the domain of only the largest, best-resourced organisations. We have engineered the Luzern platform as the bridge to profitable insurance ownership for everyone.”
Luzern Risk CTO Jonathan York stated: “There was a time when you had to call your stock broker to get a share price quote. Now you can do it instantly. We see a similar opportunity to modernise captive insurance through design and a world-class customer experience. Our platform replaces reams of paper and perpetual uncertainty with a digital command centre – and the power of insurance ownership.”
Luzern Risk’s proprietary platform features AI, full API (application programming interface) compatibility and a range of automation tools.
The company specialises in forming a variety of captive structures such as single-parent captives, group captives, agency captives, rent-a-captives and protected cell companies.
