Luzern Risk

Luzern Risk is a technology-first captive insurance manager. Its mission is to make sophisticated insurance risk management available to far more businesses. It combines insurance expertise with an end-to-end digital platform that helps businesses plan, form and manage their own captive insurance programs. In short, Luzern gives businesses the power to own their insurance.

A captive is an insurance company that a business owns outright. Instead of paying a traditional carrier and handing over the underwriting profit, the business insures its own risk. It keeps that underwriting profit, gets access to wholesale reinsurance markets at better prices, and benefits from the tax treatment of insurance expenses. Until now, captives have mostly been used by the Fortune 1000. Legacy captive managers work like consultancies: their programs are slow to set up, custom-built and expensive. Luzern uses technology to lower the cost of forming and running captives so it can serve the "Fortune 100,000."

Luzern handles the full lifecycle of a captive: structuring, licensing, governance, accounting, claims and regulatory compliance. All of it runs through an AI-native platform where software agents run the workflows and licensed experts direct, approve and advise. The model is working:

• 30+ captives under management
• $200M+ in premium
• Licenses in 11 U.S. domiciles plus the Cayman Islands
• Zero client turnover
• Millions in ARR and roughly 700% growth this year

Luzern recently closed a $45M Series B led by Insight Partners to scale the platform. Legacy captive managers run on services margins of about 20–40%. Luzern's software lets it run the same work at SaaS-like margins of around 80%. Captive management is the starting point. The long-term goal is for the platform to become infrastructure for how companies finance risk.