AI-powered data insights

There’s a universe of untapped insight lurking within policy data. Unlocking it means better outcomes for everyone: customers, business operations and the actuarians driving the industry forwards.

Improve business operations

Policy data analytics provides an unmatched reflection of your business reality – your past performance, current operations and future competitive posture.

Our policy administration environment creates a clear view of standardized, structured policy data that empowers accounting to accelerate intelligent operations everywhere.

The result is faster, more effective and more automated activities in: reconciliation, values and reserves, liquidity ratios, fund order management, internal and external reporting, cross-regional compliance and more.

Understand customers’ needs

Policy data also contains rich customer and market intelligence.

A unified policy administration platform makes it easy to surface opportunities tailored for new and existing audience segments around factors like preferences, life events, churn propensity and more.

This is gold dust for your sales and marketing teams to work in closer alignment and develop continuously improving customer experiences and products.

Mitigate risk

When it comes to compliance reporting, complexity equals risk.

That’s why it’s so powerful to leverage consolidated policy data in a single cloud-based management platform.

Because you have a single, standardized view of your liabilities – and a single connector to your compliance reporting obligations and requirements.

The result is faster, more assured compliance reporting and significantly lower risk.

Enriched actuarial insights

Accurate, rich data is the baseline for making long term forecasts and daily strategic business decisions in Life and Pensions.

How your actuaries access that data (and the speed at which they can interpret it) disproportionately dictates your competitive posture.

A single platform, based in the cloud, interoperable with all business systems and integrated with all legacy systems gives actuaries the tools and intelligence they need to make big strategic decisions with confidence.

Lumera’s Data Mart is an easily-navigable playground of analytics-ready data collected from across your policy landscape. And it seamlessly integrates with your own analytics tooling.

Augmented AI & AI driven assessments

The Life and Pensions industry is characterized by large volumes of data and complex business rules. This presents an ideal environment for AI implementation, with huge potential for the technology to thrive and add value.

AI technology can support knowledge workers of the industry with valuable insights, to underpin and speed up professional decision-making, with greater consistency and deeper insight. This enables them to provide more accurate assessments and advice – Augmented AI.

AI can also be applied to cognitive services like text, image and video recognition, driving highly automated and frictionless workflows – Hyper automation AI.

When operating in a highly regulated industry it is a critical requirement that any AI-powered implementation adheres to sound principles; Lumera stands for AI that is supervised, explainable and ethical.

Lumera offers a set of highly industry-relevant AI use cases, including Claims Management, Risk of Lapse and Next-Best-Action.

Another innovative tool in Lumera’s portfolio is the AI-VDA (AI Value Driver Analysis) assessment framework. This defines a disciplined 5-step evaluation process where Lumera works with the customer to identify AI use case candidates based on their potential business value, aligned with overall customers strategy and financial targets.

AI-powered data insights start here

Valuable data insights in Life and Pensions is built in a transformative environment that:

  • A single platform that makes data available to all business units
  • Serves relevant data to improve business operations, customers experience, compliance and actuarial calculations
  • Integrates seamlessly with other consolidated data warehouses and compliance reporting solutions
  • Industry relevant LP&I AI best-practice use-cases
  • AI-VDA, AI Value Driver Analysis customer assessment
  • Reliability that’s built for lifelong partnerships

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