Lumiq
India's leading FSI-focused data and analytics company powering data transformation for financial services and insurance enterprises.
Overview
LUMIQ is an end-to-end data transformation partner for modern financial services and insurance (FSI) enterprises. Founded in 2013 by Shoaib Mohammad, the company helps insurance carriers, banks, and capital markets firms build cloud-native data platforms, operationalize AI at scale, and turn raw data into products that improve decision quality and operational efficiency.
Headquartered in Noida, India, with offices in Chennai, Pune, and New Jersey, LUMIQ operates across Asia, North America, and Europe. The company serves 20+ financial and insurance enterprises and has processed over 1 billion customer interactions through its data platform. As of 2025, LUMIQ employs approximately 252 data professionals and generates roughly USD 35M in annual revenue.
LUMIQ's differentiated position lies in the intersection of data engineering, AI/ML, and deep FSI domain expertise. The company is an AWS Advanced Consulting Partner and has won the AWS Specialty Partner of the Year award for Data, Analytics, and Machine Learning for two consecutive years (2021 and 2022). CEO Shoaib Mohammad previously held roles at Google, Cisco, NASA, and Yamaha.
Products & Services
emPower FSI Data Platform
LUMIQ's flagship data platform for financial services enterprises. Provides pre-built data connectors to automate ETL/ELT processes, support batch and streaming replication, and ingest data from any source format. Built on AWS, it underpins LUMIQ's full analytics and AI product stack.
Key Features
- 70+ pre-built AI/ML models for insurance risk, claims, and underwriting analytics
- Cloud-native data ingestion, unification, and pipeline orchestration
- Support for all data formats with batch and streaming replication
- Insurance-specific data products for policy and claims lifecycle
Target Users: Insurance carriers and FSI enterprises modernizing their data infrastructure
emPower Pryzm (Data Reliability Platform)
Launched in September 2023, emPower Pryzm is a data reliability and observability platform purpose-built for financial services. It uses AI to proactively monitor data quality, detect anomalies, and integrate with ITSM tools for faster issue resolution.
Key Features
- 360-degree data oversight with anomaly detection
- ITSM integration for change management and incident resolution
- AI-powered data quality monitoring and DataOps controls
- Audit-ready data governance for regulated FSI environments
Target Users: Enterprise FSI data and operations teams requiring high-accuracy data for critical decisions
LiteCone (Agentic AI Workforce)
LiteCone is LUMIQ's agentic AI product line, deploying specialized AI agents as production-grade workflow executors -- not assistants -- across insurance and financial services operations. Agents are audit-ready and designed for regulated environments. Key Agents:
Key Features
- LEO - AI insurance underwriter. Deployed with a life insurer since November 2024; reduces underwriting turnaround time from 30+ minutes to near-zero and cuts cost per proposal by 20x
- ERIC - Health underwriting specialist
- ARIS - Health claims adjudication
- AURA - Intake and submissions processing
- ALEX - Credit underwriting
Target Users: Insurance carriers and health plans seeking to scale AI from pilot to production in core underwriting and claims workflows
Drishti (Document AI)
An intelligent document parsing solution built on Amazon Textract. Optimizes customer onboarding journeys with modular, portable AI that can be deployed directly on field agents' devices.
Key Features
- AI-powered document classification and data extraction
- Modular and portable -- deployable in the field
- Integration with Amazon Textract for OCR and form processing
- Supports automated KYC and policy application intake
Target Users: Insurers and banks automating document-heavy onboarding workflows
At a Glance
- Founded
- 2013
- Headquarters
- Noida, India
- Employees
- 201-500
- Funding
- Series A (USD 8.1M total)
Category & Focus
- Category
- Data & Analytics
- Subcategories
- AI/ML Platforms Agentic AI Workflows Data Observability Document AI
- Insurance Verticals
- Life & Annuity P&C Commercial Health
- Target Customers
- Carriers, MGAs/MGUs, TPAs
Customers
- Life insurer using LEO for AI-powered underwriting since November 2024, achieving near-zero turnaround time and 20x cost reduction
- Leading life insurance organization managing underwriting for 4+ million customers using LUMIQ's AI-powered underwriting engine
- Insurance carriers, banks, NBFCs, and AMCs across India
Links
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Last updated: 2026-06-03