Lumera

Lumera is an Insurtech company driving safe, continuous digital transformation in the Life and Pensions industry.

Lumera appoints Jonas Alfredson as Chief Financial Officer

InsurTech: Infrastructure

Providers of general, yet comprehensive, end-to-end solutions for insurance companies, covering various aspects of their operations. This includes core systems for policy administration, underwriting, claims processing, billing, and customer relationship management

Specialized platforms that offer lead generation and management services and tools for insurance providers. Tools can include telemarketing, internet, and social media lead generation, referrals, and lead analytics

Underwriting platforms that evaluate risks related to life insurance, health insurance, and related products such as disability and critical illness coverage. They may utilize medical underwriting criteria, genetic information, lifestyle factors, and demographic data to assess applicants' insurability

Platforms that specialize in assessing risks associated with property and casualty insurance, including home, auto, commercial property, and liability coverage. They may incorporate data sources such as property valuations, historical claims data, telematics, and weather patterns to evaluate risk factors accurately

Specialized platforms that streamline and automate claims processing workflows, from initial claim submission to settlement. They may offer software for claims intake, adjudication, fraud detection, and communication with policyholders and third-party service providers

Policy administration systems that focus on managing policy lifecycle activities, including policy issuance, endorsements, renewals, and cancellations. They provide insurers with tools to configure and manage policy rules, coverage options, and premium calculations. Platforms can also have additional functions for commission and performance tracking

Reinsurance technology providers offer a range of innovative tools and services to support reinsurers in managing their operations, assessing risks, and optimizing their reinsurance strategies. These solutions may include advanced analytics, catastrophe modeling, risk assessment tools, portfolio management systems, and underwriting platforms specifically designed for the reinsurance industry

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 <p>Premium policy administration platform, Lumera, has acquired ITM, a UK-based provider of data management and technology solutions specializing in the life and pension markets. The purchase price remains undisclosed.</p>
 
 <p>This strategic acquisition supports Lumera's international growth objectives and will see an influx of over 160 ITM employees joining their ranks. The merger will broaden Lumera's accessibility to ITM's prestigious customer base in the UK, which encompasses a majority of the largest pension funds in the country.</p>
 
 <p>ITM, located in the UK, delivers technology-driven services unique to their field, such as data analysis, regulatory compliance assessments, de-risking, liability management, and data quality management.</p>

 <p>Lumera is an established Swedish entity, providing digital transformation solutions to Europe's life and pensions industry since 2003. The organization offers a flexible, cloud-native policy administration system that encourages and facilitates businesses in this sector to safely and smoothly transition to digital.</p>

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