XN Captive has rebranded as Luzern Risk and secured US$12 million in Series A funding from Caffeinated Capital to support its mission of digitising captive insurance for the underserved middle market.
The company offers what it calls the first “fully integrated digital captive solution”, merging intelligent software with insurance expertise to help businesses take control of their risk, capital, and performance.
Luzern Risk aims to lower the high barriers that have historically limited captive insurance to large companies, offering an all-in-one platform designed to streamline the formation process and support middle-market firms seeking greater control over their insurance costs.
Gabriel Weiss, CEO and co-founder of Luzern Risk, remarks: "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."
The company replaces what it describes as “an opaque and cumbersome captive formation process with a single, intuitive platform” that manages the entire captive lifecycle — serving both new and existing captive owners, as well as agencies and programme partners.
At the core of its strategy is a proprietary platform that features a modern interface, agentic AI, full API compatibility and a suite of automations designed to improve usability and long-term outcomes.
"Luzern represents the future of risk infrastructure," says Varun Gupta, general partner at Caffeinated Capital.
"This is not just software for a legacy industry. Luzern is shaping a new reality, where businesses approach insurance not as a line item, but as a strategic asset."
