SPP
How Lumera became the core digitalization platform that transformed Sweden’s fastest growing life insurance company.

Increase in premium sales*
17X the organic market growth rate
**2019
Cost reduction*
Digitalization-driven efficiency savings
Digital policy sign-rate**
Entirely touchless sales and quotation process
Won
CIO Awards 2019
Digital Project of the Year
A fragmented history
Like so many insurance providers, SPP wanted to update their IT infrastructure to ensure it could meet their new business objectives.
The legacy system had served its purpose but the bespoke, individually-maintained systems meant serving modern business needs or compliance requirements was time consuming and expensive.
Technical debt was preventing SPP from operating as efficiently as possible. An overwhelming complexity burden made it difficult to serve customers, develop products or react to change as quickly and effectively as they would’ve liked to.
They needed a fresh start. So they kicked off a digital transformation program called “Future Core” — and chose Lumera as the foundation.


A transformation environment
Lumera’s deep extensibility meant SPP could transform their existing operational processes and catalyze wider transformational programs with a single solution.
They began by consolidating and simplifying their legacy technology estate into a single, centralized policy administration environment.
But they also used Lumera as a central interchange to standardize their business and technology processes, and expose them to internal and external stakeholders across the whole insurance value chain.
And as we’ll go on to see, the results are truly transformative.



Delivering better, digitally
Lumera has fundamentally redefined SPP’s relationship to operational and transformational change. Day-to-day business operations — like administering policies and meeting compliance — are easier, faster, cheaper and more automated, leading to a 10% reduction in costs across the business. And that’s transformative in its own right. But SPP has been able to unlock other digitalization and innovation opportunities through Lumera’s Portal Application Framework — a platform for customers to create self-service business applications in order to drive transformation across the whole insurance value chain.


Self-service business innovation
SPP is leveraging Lumera’s strong digitalization enablement capabilities to deliver innovative self-service solutions to its customers and business partners.
Powered by Lumera’s digitalization platform (IPAF), SPP now provides an entirely digital and touchless sales and quotation process to sell B2B agreements — accelerating customers from initial contact, to digital quoting to signing with minimal friction.
With the help of IPAF, SPP is providing a self-service application that allows HR teams within customer organizations to update policies and contribution information directly.
SPP also developed an end-customer portal, built using the Lumera open API. This flexibility will support future plans to continuously refine more tailored experiences for SPP’s customers.



The results
The numbers for SPP speak for themselves: at a time where industry sales are dropping, SPP saw a 34% new sales increase, 17X the organic market growth rate in Sweden.
But the real successes are still to come. Lumera is a future-proof foundation for the continued success of SPP’s “Future Core” transformation program.
With more efficient daily operations and a platform for continued transformation, SPP’s technology estate is set-up to continually unlock new opportunities that drive the business forwards. There’s little doubt SPP will continue to accelerate as the forerunner of insurance digitization.



Join the Prudent Revolution.
The Prudent Revolution delivers controlled, deliberate transformation for Life and Pensions providers. But the results are big, bold and obvious almost immediately.
What we deliver

A completely new IT platform and a battery of customer-friendly digital solutions lay the foundations for meeting the customers’ need for simplicity and flexibility.
Kristine Lindmark
CIO
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