In Life and Pensions, costs are a lot like complexity: multidimensional, interconnected and hard to control. So when you attack the drivers of the growing cost curve, big things start to happen.

Process automation

Manually administering policies – across multiple touchpoints and over multiple lifetimes – is a blackhole of time and resources.

A unified policy administration environment unlocks zero-error, rule-based orchestration for complex operations across the whole organization.

From customer-facing systems down to the deepest backend data reconciliation.

The result is frictionless customer services and refocused resources around the areas that drive business value.

Streamlined operations

Efficiency isn’t just about automation – it’s about streamlining your operations to get to better outcomes, faster.

But when decades of technical debt dictate your operations, your organization is inevitably optimized around system complexity instead of human needs.

That’s why a unified policy administration environment doesn’t just make your processes more automated – it unlocks better processes, by consolidating systems and smashing silos.

So you’re free to streamline your operations in service of efficiency, productivity and customer-centricity.

"Having Lumera as a transformation partner has resulted in a stable IT environment and created the conditions for cost savings. With its partnership, Lumera has made a strong contribution to the flawless migration."

Lena Ringström

System consolidation

System fragmentation is a major – and totally unnecessary – revenue killer.

The more core platforms and support systems you use to administer policies, the more risk, rework and technical debt threatens your bottom line.

Retiring legacy systems and migrating to a single, centralized policy administration environment means you can manage and administer every policy from one place – forever.

That means more productivity, less maintenance and fewer errors – freeing you to focus on what really drives value for your business and your customers.

Lower total cost of ownership

The lifelong nature of Life and Pensions means providers absorb more disruptive technology change than other industries.

But disruption doesn’t have to be costly. In fact, with the right cost model underpinning your technology strategy, disruption can be profitable.

Moving to a cloud-based policy administration environment not only lowers the cost of ownership versus traditional infrastructure – it makes adapting to future change easier, faster and cheaper.

And that’s essential. Because change acceleration only happens in one direction.

Cost efficiency starts here

Cost efficiency in Life and Pensions is built in a transformative environment that:

  • Exposes and reduces unnecessary and complex costs
  • Consolidates fragmented platforms and systems
  • Encourages customer-centric product development and processes
  • Enables customer-centric processes
  • Makes it easy to maintain and adapt systems

Efficiency in action

  • Skandia

  • AMF


How we helped one of Scandinavia’s leading life insurance companies transfer their fund trading operation to a standard system.

  • Skandia’s important fund trading now relies on a fully modern, flexible and maintained platform – Lumera
  • Handling of over 1000 different mutual funds from over 100 different international providers
  • Management of over 14 billion Euros in assets
  • Single environment for fund trading management, built to serve both banking customers and the unit linked business

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