For many companies, building an insurance infrastructure can be expensive and time-consuming. Lula solves this problem by enabling companies of all sizes to build and maintain viable insurance programs.
Initially founded as a car-sharing app for college students, the company pivoted its focus to insurance in 2021, raising $18M to accelerate this pivot. By leveraging the insurance infrastructure its founders built into the car rental app, Lula's API has become the Stripe of insurance.
Lula's main challenge will be competing with other insurance infrastructure developers. However, the company's high profile, solid backing, growing portfolio, and broad focus on small businesses and enterprises will give it a vital edge.
Kirsty
Company Specialist at Welcome to the Jungle