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M&A
Lumera acquires ITM to expand data management and tech solutions for life and pensions market in the UK
InsurTech: Infrastructure
Jul 2, 2024
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InsurTech: Infrastructure

InsurTech: Infrastructure

Jul 2, 2024

Lumera acquires ITM to expand data management and tech solutions for life and pensions market in the UK

M&A

  • Lumera, a policy administration platform provider, has entered an agreement to acquire ITM, a provider of data management and technology solutions serving the UK life and pension markets, for an undisclosed amount.

  • The acquisition supports Lumera's strategic objective of international expansion and enhancing its offerings. It will also result in over 160 ITM employees joining its team. This also provides Lumera access to the latter’s blue-chip customer base in the UK, which includes most of the country's largest pension funds.

  • Headquartered in the UK, ITM offers technology-led specialist services, including data analysis, regulatory compliance assessments, de-risking, liability management, and data quality management. 

  • Lumera is a Swedish company that has been providing digital transformation solutions for Europe's life and pensions industry since 2003. The company offers a flexible, cloud-native policy administration system that enables businesses in this sector to undergo safe and continuous digital transformation.

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