back Back

Nordea Liv taps Lumera to modernize its life & pension insurance offering

By Gloria Methri

August 25, 2023

  • Life Insurance
  • Lumera
  • Nordea Liv
Share

Lumera, InsurTech, Nordea Liv, Life Insurance, Pensions Provider, NorwayInsurTech Lumera has entered an agreement with Nordic life insurance and pension provider Nordea Liv to deliver a new solution for managing the company’s life and pension insurance portfolio in the Norwegian market.

Working with Lumera, Nordea Liv Norway will establish a new cloud-based solution to enable more agile digital service development. Expected benefits include lower costs and reduced operational risk.

“We are embarking on a comprehensive upgrade of our enterprise systems. As this is one of our largest investments to date, teaming up with an experienced provider with in-depth knowledge of Norwegian Life & Pensions was a critical requirement. We are very pleased to find that our needs are matched by Lumera’s proposal, and by their professionalism,” said Hans-Erik Lind, CEO, Nordea Liv.

During the implementation project, more than 700,000 insurance policies will be migrated from multiple policy management applications to the Lumera platform. Scheduled to be completed by 2028, the new systems foundation will enable Nordea Liv to scale their business and accommodate future services as well as regulatory requirements, while reinforcing the company’s competitive edge.

“We are proud to be selected by Nordea Liv to help facilitate their digital business development and future growth. Our assignment to provide the cloud-based solution they need to support growing volumes and future services confirms that Lumera is a preferred technology partner for Norwegian insurers,” said Mats Lillienberg, CEO, Lumera.

Lumera says it is dedicated to the digital transformation of the European Life and Pensions industry. As an InsurTech innovator, the company has introduced AI-powered automation and business analytics to policy administration. With a track record of extensive migration projects, Lumera combines its cloud-native policy administration platform with deep domain expertise.

Previous Article

August 25, 2023

Orange Money sells its Retail Business unit to Alpha Bank Romania

Read More
Next Article

August 25, 2023

Trustly partners with Sergel to streamline installment payments

Read More






IBSi Daily News Analysis

June 21, 2024

Life Insurance

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 21, 2024

Discai and Harmoney join forces to fight financial crime

Read More

June 21, 2024

FinTech Focus: Catch latest developments of the week

Read More

June 21, 2024

The Weekly Wrap: all you need to know by Friday COB | June 21st

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023