Meet Joanne Safo, Founder & CEO at Female-Founded InsurTech: Lukango

Lukango is a female-founded Insurtech on a mission to provide easy-to-understand, comprehensive insurance protection for the next generation of microbusinesses.

We’re inspired to demystify insurance for today’s business owners who have traditionally been overlooked, and replace the outdated and missized options currently available with creative insurance products that support their business goals.

We’re customer obsessed with a laser-sharp focus on protecting the most important parts of our customers’ businesses. A key differentiator is our micro-segmentation. We go deep rather than wide to truly understand the needs of the different groups we serve and design product experiences uniquely positioned to work for them.


How did you come up with the idea for the company?

Having a career in insurance for many years, working on building and launching numerous Insurtechs, I noticed a gap in the market for a purpose-built solution for microbusinesses and an opportunity to utilise data to more accurately and equitably price products for them.

We’re also driven to help change the face of the insurance industry. The benefits of diversity are widely known today, but not applied widely enough yet. I’ve been a champion of diversity for a long time and our Lukango team has been incredibly diverse from day one. This personal desire to help achieve more diversity in the insurance industry is an additional driver behind Lukango.


How has the company evolved over the last couple of years?

We’re still relatively new, having started in late 2021 so we haven’t been through an evolution yet!

We secured pre-seed funding in July this year which – in the current climate, and with a fraction (0.02%) of the overall volumes invested into startups going to female and BAME founders – was a massive achievement.

Since then we’ve been focussing on building our products and platform. We’ve developed two straightforward products, ‘Fix’ and ‘Flex’, which offer comprehensive cover and simple choice. ‘Fix’ is for customers who want a fixed price and want to know what they are going to pay upfront. ‘Flex’ uses our intelligent algorithms applied to data gathered from customers to provide them with the right product for them, at a fair price designed to adapt to the growth of their business.

What can we hope to see from Lukango in the future?

Over the next six months, we’re focussed on completing our technology build and launching our products in the market to a niche, underserved segment of customers.

In time expect the rollout of our products to additional segments and further innovation of our Flex product into a full usage-based offering.

To match today’s evolving business models, we will always aim to continually improve our insurance products, while tailoring our technology to recognise new trends.