The latest from Lumera;
Lumera, a leading insurtech company dedicated to the digital transformation of the European Life and Pensions industry, has signed an agreement with PNO Media to provide a SaaS policy administration solution. A self-administered sector pension fund primarily serving the media industry, PNO Media was reorganized in 2023, following the merger with its service provider Media Pensioen Diensten (MPD). A key mission for the expanded PNO Media organization is to execute transition to the WTP pension scheme, while implementing strategic initiatives for long-term growth.
PNO Media is actively open to new employers and funds. These are served in a customer-focused, personal and flexible way, providing a new option for stakeholders in collective pensions. To enable this strategy, a redesigned IT architecture is essential, and to realize this, PNO MEDIA decided to migrate to a modern SaaS platform, phasing out legacy, in-house developed management systems.
“When preparing for WTP transitioning, we recognized that this would involve a systems overhaul targeting a modern, future-proof SaaS environment,” says José Schenkel, chairwoman of the executive board of PNO Media. “We found that Lumera provided the obvious answer to this need. Lumera’s solutions, as well as their people, are perfectly tuned to our plans and ambitions, and we expect their Digital Twin to be a critical success factor when addressing our future market landscape.”
PNO Media will first migrate the current Financial Assessment Framework (FTK) pension scheme to the Lumera platform, scheduled to go live in early 2026. In the subsequent phase, PNO Media will apply Lumera’s Digital Twin strategy when transitioning to WTP. This enables PNO Media to provide support for SPR and FPR pension schemes, as well as more flexible schemes when required. This also includes new FTK schemes which could be introduced in the post WTP era.
“It’s a privilege for us to engage with PNO Media to facilitate the fund’s WTP journey while providing solutions and services for underpinning their growth strategy,“ says Jeroen Elbertse, Commercial Director Lumera Netherlands. “We much look forward to a fruitful partnership with PNO Media which could serve as a model for how the combination of Lumera’s offering and our market expertise effectively supports business development and growth for Life and Pensions providers.“
Lumera currently serves a diverse set of client organizations in the Netherlands pensions market, including self-administrating funds, pension administration organizations (PUOs), an APF (Het Nederlands Pensioenfonds) and satellite funds such as PGB and BPF Detailhandel. This space is projected for growth following WTP transition and the ensuing consolidation of pension funds predicted by consultants such as PWC and Eraneos.
The Netherlands is regarded for having one of the best pension systems in the world, ranked first by the Mercer CFA Institute Global Pension Index 2024.
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