The Hokus Platform, a 25-employee insurtech with a solution connected to 100% of the life insurance market, caught the eye of FNZ, which has 4,500 employees and $1.5 trillion under management. (Photo: Shutterstock)

The Hokus Platform, a 25-employee insurtech with a solution connected to 100% of the life insurance market, caught the eye of FNZ, which has 4,500 employees and $1.5 trillion under management. (Photo: Shutterstock)

The Hokus Platform, which won the Innovation Award of the Luxembourg Association of Insurance Companies last year, was spotted by the giant FNZ, which is offering it to its asset management clients to make life insurance management more fluid.

That a wealth management platform like FNZ, with $1.5trn in assets under administration, decided to invest €2m in a Luxembourg insurtech, says a lot about the value it places on technology. FNZ  is partner of 650 financial institutions and 8,000 wealth management companies, and is backed by the Caisse de dépôt et placement du Québec and the investment fund of Al Gore, the former US president.

The €2m figure, which no one wanted to confirm or deny on Thursday, was put forward by the insurtech itself in its latest annual report. Faced with the negative results of 2021, its leaders had announced that they expected a first fundraising of €467,000 before the summer and another, in the fall, of more than €2m. This is in addition to a €1.25m grant from the ministry of the economy, half of which should be paid out this year according to documents published on 20 September.

With its solution, which is already used by 25 insurance companies--i.e. almost the entire life insurance market-- claims to increase the speed of processing files by a factor of ten, which frees up time for advisers to focus on their wealthy clients.

"This investment is a clear recognition of the success of The Hokus Platform and will accelerate the development of our business and strengthen our market-leading proposition," said the start-up's founder and CEO, Fabrice Sauvignon.

FNZ's managing director for Belgium, Luxembourg and France, Pierre-Henri Denain, placed the investment in the context of the company's desire to increase its presence in these three markets in the life insurance sector.

After winning the innovation award of the association of insurers last year, this news is another nice recognition for the Lhoft member and its 25 employees, based in Luxembourg, but also in France and Spain.

This article was first . It has been translated by Delano.