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About Lumera

Lumera is an insurtech company dedicated to the digital transformation of the European Life and Pensions industry.

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.

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Lumera history

The beginnings of Lumera dates back at the turn of the millennium, as the banking and insurance industries were slowly converging. Each side then had issues with dated cost structures and legacy systems designed for serving regulated markets.

A small group of likeminded pioneers recognized this as an opportunity, and that the time was right for breaking new ground: What if we could establish a common, yet flexible standard for the insurance industry? One that empowers insurers to take on their challenges and explore new business models and do so with significantly lower overhead costs.

These ideas were turned into action. The result is Inca, a versatile and extensible policy management environment that brings agility and control to life insurance and pensions providers, including their critical business processes and services.

2003
2003

With Swedbank signed as the first customer through a two-year contract, Itello opens for business in Stockholm, with the Royal Palace across the street from the office.  

After five years of meticulous research, planning and development, Lumera is launched in Sweden.  

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2004
2004

Lumera adds a solution for occupational pensions, capable of easy and efficient management of large volumes of individual pension plans. 

2005
2005

Nordnet becomes the second customer. 

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2006
2006

Company has a staff of 35. 

2007
2007

Nordea is a new customer. 

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2008
2008

Major update of Inca with improved code and many new features added for extending business opportunities and minimizing costs and risks for insurers, while delivering superior performance and extensive automation. 

The first migration takes place. 

Movestic (Moderna) is a new customer.  

Nordnet is the first customer in Norway. 

Movestic
Nordnet
2009
2009

Lumera adds support for multiple languages and currencies. 

Major upgrade of Lumera’s fund order management capabilities, ensuring a highly automated and fully transparent process.

More than one million insurance contracts are managed by customers using Lumera. 

Company nominated to the Deloitte FAST 50. 

2010
2010

2 million migrated policies. 

AMF Pension and Brummer Life are new customers 

Nordnet is the first customer in Denmark. 

The company reaches 100 employees. 

AMF
Nordnet
2012
2012

New high-performance billing engine brings significant productivity gains, making Lumera ready to process hundreds of thousands monthly payouts. It also enables automation of manual tasks including recalculation, return and recovery. 

2013
2013

Folksam is a new customer. 

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2014
2014

Lumera offers fully automatic reconciliation with bank accounts, which facilitates accounting and audits.  

2015
2015

SPP is a new customer. 

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2016
2016

Major rebuild of the Lumera platform introduced, offering added support for insurance migration and automatic merging of insurances at intake. This gives individuals better overview of their savings, while reducing management costs for the provider. 

Lumera Portal Application Framework (PAF) is launched, supporting users to build business applications to service their – and policy holders´ - most pressing needs directly on the platform. 

Europe's largest migration project according to Gartner, 5.3 million policies migrated.    

Company has a staff of 125. 

2017
2017

Significant update of Inca’s Plan functionality for managing occupational pensions. Key improvements include streamlined administration with shorter processing time and the new Interactive help feature which enables smart guidance and effective skills development.  

Monterro invests in Itello and becomes the main owner. 

Skandia is a new customer. 

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2018
2018

As GDPR is implemented across Europe, insurers face a host of stringent data protection and privacy requirements. From day one with the updated legislation, Lumera offers a suite of new features to facilitate GDPR compliance, including anonymization and filtering of personal data. Individuals may also request a copy of their personal records kept by Lumera users. 

Necessary functions and capabilities to ensure compliance with the Insurance Distribution Directive regulations (IDD) from start. 
Over 10 million migrated policies. 
First Nordic vendor to be recognized in the Gartner Magic Quadrant for Policy Administration Systems in Europe. 

2019
2019

Acquires Eikos AS, expanding presence in Norway. 

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2020
2020

Lumera becomes available as a cloud service –now known as Lumera Live. 

Significant upgrade of Lumera´s fund administration and fund order management functions. 

Handelsbanken  is a new customer. 

Eikos signs portfolio management contract with KLP. 

The company reaches 222 employees. 

2021
2021

To support expansion into new European markets, Itello rebrands as Lumera. 

Close to 12 million migrated policies. 

PP Pension migrates to Lumera Live solution with implementation by Future Core Cloud.

Skandia selects Lumera for major enterprise systems upgrade. 

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2022
2022

Acquires and invests in Ai-London for continued European expansion.

Selected by HAYAH, a digital insurance pioneer in the Middle East region, to deliver fully digitalized AI-driven insurance platform.

Vita, Life insurance company, d.d., selects Lumera as strategic AI & automation partner.

Acquires AxyWare to solidify commitment to Dutch market.

The company reaches 340 employees.

2023
2023

Wolters Kluwer, HiBiN and Nordea Norway are new customers.

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    Press contact

    Christine Blinke
    CMO
    —
    Phone: +46 8 4109 4000
    Email: press@lumera.com

    Regeringsgatan 28
    SE-111 53 Stockholm, Sweden

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