PNO Media selects Lumera to provide future-proof policy administration platform
Lumera selected by sector pension fund PNO Media to provide a SaaS policy administration platform, facilitating WTP transition and supporting strategic objectives.
Stockholm, November 4, 2024 – 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.
For more information, please contact:
Lumera
Jeroen Elbertse, Commercial Director, Lumera Netherlands: +31 612 27 68 95, jeroen.elbertse@lumera.com
Christine Blinke, CMO, Lumera Group: +46 739 01 02 01, christine.blinke@lumera.com
PNO Media
Richard van Valkengoed, Communications advisor: +31 6 420 50 243, richard.van.valkengoed@pnomedia.nl
About Lumera
Lumera is dedicated to the digital transformation of the European Life and Pensions industry. As insurtech innovators, we provide technology solutions covering policy administration, data management and migration to a broad, blue-chip client base. We also combine our tech and industry expertise to offer a comprehensive range of specialist services, tailored for each local market.
The Prudent Revolution is our mission – bridging technology and partnership to navigate the fastest, safest path through complex change for L&P providers.
Based in Stockholm, Lumera has significant presence with offices in the United Kingdom, the Netherlands, Norway, Sweden, India and Vietnam. Lumera is majority owned by Monterro, the leading software investor in the Nordic region.
www.lumera.com
Follow Lumera on LinkedIn and Facebook.
About PNO Media
PNO Media is the pension fund for the creative and digital sector in the Netherlands. A non-profit foundation, PNO Media was founded in 1947, initially to serve employees of the Dutch radio broadcasting service. Today, more than 520 employers and 67,500 participants and pension beneficiaries trust PNO Media to arrange their pensions properly.
www.pnomedia.nl
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