The latest from Lumera;
Lumera, a leading insurtech company dedicated to the digital transformation of the European Life and Pensions industry, announces an updated, expanded portfolio of future-proof technology, data solutions and expert services.
Through this launch, Lumera is primed to address fundamental business issues that clients are facing. Long accustomed to limited, one-way interaction with policyholders, European insurers and pension providers will need to become more transparent and attentive.
This shift is spurred by industry trends connected to regulatory change, pension reform, and consumer behaviour. Compelling events like pensions dashboards regulations, the Value for Money and Consumer Duty frameworks in the UK and the Future Pensions Act (WTP) in the Netherlands obligate Life and Pensions providers to innovate and drive new value for their stakeholders.
Meeting the rising expectations from a new generation of active, empowered end-customers calls for a customer-centric approach, enabled by seamless user experiences with convenient access to data. To realise this, Lumera provides platforms connected to national pensions ecosystems, enabling clients to add bespoke integrations and user experiences.
“At the heart of our updated offering is Lumera’s intent to support Life and Pensions providers in the new era of customer centricity and customer empowerment,” says Jonas Alfredson, CEO, Lumera Group. “With our technology solutions and expert services, backed up by local industry expertise in each market we serve, Lumera is perfectly positioned to be the preferred end-to-end transformation partner for our clients.”
The portfolio is grounded in an extended vision, for closing the customer empowerment gap. It marks the next phase in the Prudent Revolution, Lumera’s model for safe digital transformation across the Life and Pensions value chain. The Prudent Revolution bridges technology and partnership to accommodate the industry’s complexities and highly regulated environment.
This announcement – along with an updated company website – also reflects a growing organisation with greater capabilities and market reach following multiple strategic acquisitions. Most recently, Lumera has merged with ITM, a provider of data management and technology solutions serving the UK Life and Pensions markets. Following a successful integration, the ITM team is now part of Lumera.
Key elements of Lumera’s expanded portfolio include:
- Future-proof technology: A modern end-to-end policy administration platform which combines hyper-automation and AI support with deep flexibility to develop new products and enable customer empowerment.
- Legacy system migration: Strategy and implementation support to consolidate systems and migrate policy data.
- Data services: Independent consultancy and practical services to validate, standardise and enrich data for enhanced end-customer experiences and innovation.
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