Nordea Liv Norway selects Lumera for next-generation life and pensions insurance administration platform
Nordea Liv Norway is partnering with Lumera to modernize its enterprise systems for life and pensions insurance. While the Lumera platform is deployed, current legacy systems will be phased out.
Oslo, August 23, 2023 – Lumera, a leading insurtech company dedicated to the digital transformation of the European life and pensions industry, 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,” says 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,” says Mats Lillienberg, CEO, Lumera.
For more information, please contact:
Lumera
Øyvind Grini, Managing Director, Lumera Norway, +47 90 11 66 30, oyvind.grini@lumera.com
Mats Lillienberg, CEO, Lumera: +46 70 848 81 87, mats.lillienberg@lumera.com
Christine Blinke, CMO, Lumera: +46 73 668 60 08, christine.blinke@lumera.com
Nordea Liv
Hans-Erik Lind, CEO, Nordea Liv, +47 41 64 15 51
Johannes Utvåg, Senior Communications Partner, Nordea +47 99 41 58 33
About Lumera
Lumera is dedicated to the digital transformation of the European Life and Pensions industry. As insurtech innovators, we are introducing AI-powered automation and business analytics to policy administration. The Prudent Revolution is our mission – bridging technology and partnership to navigate the fastest, safest path through complex change for L&P providers. With a faultless track record from extensive migration projects, Lumera combines our cloud-native policy administration platform with deep domain expertise.
www.lumera.com
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About Nordea Liv
Nordea Liv is part of the Nordea Group and ranked as a Top 3 private life insurer in Norway. We offer all forms of insurance-related savings products and products that provide financial security in the event of death or disability. Our products are an integral part of Nordea's total customer offering. Our company's history dates back to 1844, and today we have life and pension operations in Norway, Sweden, Finland and Denmark.
www.nordea.com
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