Wolters Kluwer pensions fund implements Lumera solution to modernize administration and prepare for major reform
Lumera selected by Wolters Kluwer to provide a modern policy administration solution, including support for the new WTP pension scheme.
Stockholm, March 21, 2023 – Lumera, a leading insurtech company dedicated to the digital transformation of the Life and Pensions industry, announces the successful implementation of a new policy administration solution for the Stichting Pensioenfonds Wolters Kluwer Nederland (SPWKN). SPWKN is a pension fund for Dutch employees and pensioners of Wolters Kluwer (EURONEXT: WKL), a global leader in professional information, software solutions, and services for the healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG sectors. The fund has a total of about 7,400 participants and assets under management of €1.0 billion.
This investment by SWPKN is part of a key modernization initiative for more efficient pensions administration while enabling new digital services for the benefit of participants. The new solution will also support adoption of the legislation which entails far-reaching changes to the Netherlands pension system, which has a major impact on pension funds.
“We had a need to update our administration platform and would have made this decision regardless of the new pension scheme. The transition ahead only made this more urgent,” says Krista Nauta, director of SPWKN.
Guided by a detailed RFP, SPWKN first explored the market for their new administration solution. The fund wanted a proven solution, based on modern technology, which offers functionality for supporting both the current pension scheme and the new system. They also needed a capable implementation partner, working with the SPWKN team, to ensure a secure and swift deployment.
After thoroughly evaluating several available options, SPWKN selected Lumera AxyLife. The deployment was completed in early February, after a six-month implementation period.
“We are honored to be selected by SPWKN to support their initiatives for modernizing policy administration and to address the pension reform. This testifies to the strength of Lumera’s offering, which rests equally on leading-edge technology and our solid industry experience,” says Jeroen Elbertse, Managing Director, Lumera Netherlands.
“We are very pleased with Lumera and how they delivered on our key requirements. This included a successful collaboration during the implementation phase and the outcome – a well-performing solution. Lumera has really delivered on our expectations,” says Krista Nauta.
The Netherlands is regarded for having one of the best pension systems in the world, ranked 2nd by the Mercer Global Pension Index for 2022. With assets totaling €1.71 trillion, the Dutch pensions sector also leads the European Union (2022 figures from the De Nederlandsche Bank).
For more information, please contact:
Lumera
Jeroen Elbertse, Managing Director, Lumera Netherlands: +31 6 12 27 68 95 . jeroen.elbertse@lumera.com
Mats Lillienberg, CEO, Lumera Group: +46 70 848 81 87, mats.lillienberg@lumera.com
Christine Blinke, CMO, Lumera Group: +46 73 668 60 08, christine.blinke@lumera.com
Wolters Kluwer
Krista Nauta, director of Pensioenbureau, SPWKN, +31621550470
About Lumera
Lumera is dedicated to the digital transformation of the 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 Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
www.wolterskluwer.com
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