A word from our CEO
2022 got off to a bright start. With the peak of the Covid pandemic behind us, we escaped lockdown restrictions, returned to our offices and business life felt near normal again. But recent world events have shaken, and even outraged us, as we are clearly entering a period of global economic uncertainty.
For the Life and Pensions industry, and for us who make a living serving it, some relief comes from our mindset, where the outlook is never limited to a single economic cycle. Perhaps more than any other business, ours is defined by lifelong commitments and partnerships, which means that we stay calm and confident during challenging times – just as we are wary of excessive celebration when things are going well.
We have delivered some exciting news too. In May, Lumera fulfilled our strategic objective of entering the UK market, by acquiring insurtech experts Ai-London. This will not only bring Lumera’s Prudent Revolution to UK and Ireland. Ai-London also makes substantial additions to our technology portfolio, and we are proud to adopt the mission to deliver the world’s first AI-powered Policy Administration System.
Our customers continued to impress, as we had five exceptionally merited nominees for the 2021 Lumera Trophy of the Year, including AMF, Movestic, Nordea and PP Pension. Eventually, the trophy was presented to Nordnet, the leading Nordic digital savings and investment bank. With their project “Egen Pensjonskonto” (EPK) in the Norwegian market, Nordnet embodies the digital-first commitment that is mandatory for future success in the Life and Pensions space.
As you hopefully have experienced already, my Lumera colleagues are always ready to share their knowledge, and our Insights channel enables this in an organized and persistent way. In the latest Insights video, Henrik Allert highlights the importance and value of data, also known as “the new oil”. View this to learn how policy data analytics can accurately picture your business reality, including past performance, current operations and future competitive posture.
In another new Insights presentation, Jan Hedestam explains efficiency and why that is not synonymous with automation – efficiency is about streamlining your entire operations to get to better outcomes, faster. To become truly efficient, a unified policy administration environment is the way to go, while doing away with technical debt.
Data and system migration is the theme of our latest Morning Insights webinar, where prominent invited speakers from SPP and Capgemini joined our experts and shared their experiences and best practises from migration projects. Did you miss it? The webinar is recorded here.
As Lumera addresses new markets, we carry our experience from Scandinavia. In the Netherlands, a pension reform is underway which in many ways mirrors the transition that began here some two decades ago. And our experience is valuable, as Lumera was founded for the specific mission to help pension administrators transition from Defined Benefit to Defined Contribution schemes – just what happens now in the Netherlands and across Europe. Lumera’s Peter Roos outlines the main challenges for insurers from this transition in an Insights blog post.
Approaching the midpoint of 2022, Lumera looks forward to an equally action-packed second half. And as we are closing in on the holiday season, we know how to take this seriously as well. I hope the same goes for your organization, and that you also get to enjoy some well-deserved time off.
Mats Lillienberg, CEO, Lumera