Lumera
Lumera is a Stockholm-based insurtech providing a cloud-native SaaS policy administration platform for the European Life and Pensions industry, serving insurers, pension funds, master trusts, and UK public sector schemes across Sweden, the UK, the Netherlands, and Norway.
- Company typePrivate
- Founded2003
- HeadquartersStockholm, Sweden
- Headcount501–1,000
- GTM typeB2B
- OfferingSoftware
What Lumera does
Lumera is a Stockholm-based insurtech company founded in 2003 (originally as Itello, rebranded to Lumera in 2021) that provides a cloud-native SaaS policy administration platform for the European Life and Pensions industry. Its core product is the Life and Pensions Administration Platform (Lumera Live), which supports group protection, defined contribution, defined benefit, and hybrid pension schemes, supplemented by modules for customer empowerment (dashboards and self-service portals), legacy migration, data consultancy, and transformation consulting. The platform is built on an API-first, event-driven architecture hosted on Microsoft Azure, with acquired brands (AxyLife in the Netherlands, Pension Fusion for UK dashboards, and ITM for UK data management) integrated into the product suite.
Lumera serves enterprise customers including life and pensions insurers, pension funds, master trusts, third-party administrators, and UK public sector schemes (NHS, Civil Service Pension Schemes, Department for Education, Department of Health and Social Care, Cabinet Office). Named Nordic clients include AMF, Skandia, SPP, Folksam, Länsförsäkringar Fondliv, PP Pension, Movestic, Nordea, Swedbank, and Nordnet, with the company holding 50%+ market share of the Swedish Life and Pensions market. The company operates across six countries (Sweden, UK, Netherlands, Norway, Vietnam, India) with approximately 560+ employees and has migrated 16 million+ policies across operations.
Lumera generates revenue through three streams: SaaS subscription licensing of the core platform (Lumera Live), professional services including implementation, migration, and actuarial consulting, and data services and consultancy. Go-to-market is enterprise field sales with direct relationships and a partner ecosystem spanning implementation specialists (Cognizant, flexIQ, Future Core, SetPace) and technology integrations (Equisoft for Pension Fusion, Yellowtail Conclusion for Dutch portals, Microsoft Azure infrastructure, Metaforce for communications). The company is majority-owned by Nordic software investor Monterro, which invested in 2017, and has pursued an acquisition-led growth strategy with five acquisitions since 2019, including ITM (160 employees, 2024) and Acuity (UK public sector pensions, December 2025).
Lumera firmographics
Firmographics- Name
- Lumera
- Legal name
- Lumera AB
- Website
- https://lumera.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Lumera is a Stockholm-based insurtech providing a cloud-native SaaS policy administration platform for the European Life and Pensions industry, serving insurers, pension funds, master trusts, and UK public sector schemes across Sweden, the UK, the Netherlands, and Norway.
- Ownership category
- akta.pro rank
Lumera industry classification
Industry- Product category
- Insurance Technology / Pension Administration Software
- NAICS
- Software Publishers (513210), Computer Systems Design and Related Services (54151)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Cloud Strategy, Assessment & Roadmap (BPAEACAA)
- akta.pro secondary industry
- Cloud Managed Services (Operations, Monitoring, Patching) (BPAEACAF)
Keywords
Where Lumera is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices6 records
Markets served
Lumera business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations
Revenue model
- Software Platform Licensing and Subscription: Lumera provides its policy administration platform as a SaaS solution (Lumera Live), generating recurring revenue from subscription-based licensing of its core technology platform to Life and Pensions providers.
- Implementation and Consulting Services: Professional services including migration implementation, transformation consulting, and actuarial consulting services delivered alongside the platform deployment.
- Data Services: Independent data consultancy and data management services that turn policy data into value-generating assets for clients.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Lumera product offering
Product offeringCore offering
Lumera provides a cloud-native SaaS policy administration platform for the Life and Pensions industry, supporting group protection, defined contribution, defined benefit, and hybrid pension schemes. The platform is delivered as Lumera Live on Microsoft Azure and is complemented by migration services, data consultancy, customer empowerment solutions, and transformation consulting that enable insurers, master trusts, and pension funds to modernise legacy systems without disrupting live operations.
Product overview
Lumera is an insurtech company offering a unified Life and Pensions Administration Platform (Lumera/Lumera Live) as its core product, with a modular approach that includes Customer Empowerment, Migration, Data Consultancy, and Transformation Consulting as supplementary services. The platform supports group protection, defined contribution, defined benefit and hybrid pension schemes. Acquired brands include AxyLife (Dutch pension administration), Pension Fusion (UK pensions dashboard integration), and ITM (UK data management/dashboards). The company follows a 'Prudent Revolution' methodology for disruption-free digital transformation.
Differentiator
Problem solved
Functional benefit
Products and services
- Life and Pensions Administration Platform Flexible, automated and future-proof SaaS platform for group protection, defined contribution, defined benefit and hybrid pension schemes. The central platform powering all Lumera solutions.
- Lumera Live Cloud-based deployment of Lumera's policy administration platform on Microsoft Azure infrastructure, providing scalable, compliant SaaS service delivery for the Life and Pensions industry.
- Pension Fusion ISP (Integrated Service Provider) solution developed in partnership with Equisoft that links pension providers with the UK Pensions Dashboards Programme's Central Digital Architecture. Calculates pension values and enhances data quality, with 99.26% member find rate.
- AxyLife Administration platform integrated with Yellowtail Conclusion's digital portal solution for Dutch pension funds, enabling participants to access real-time pension information via 16 participant portals launched in the first year of partnership.
- Migration Services Strategic planning and phased implementation services to consolidate legacy systems and manage end-customer data migration from one unified platform. Includes proven track record of 16M+ policies migrated.
- Data Consultancy Independent consultancy and technology services to turn policy data into a value-generating asset for insurers and pension providers. Includes data management, quality enhancement, and dashboard connectivity.
- Transformation Consulting From project management to business change, procurement to pensions - consulting services to help organisations navigate their digital transformation journey under the Prudent Revolution methodology.
Quantifiable outcome
- 16 million policies migrated across operations
- +5 more outcomes
Companies that use Lumera
Customer profileNamed customers17 records
Segments7 records
Ideal customer profiles4 records
Lumera technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability10 records
Feature7 records
Lumera partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Yellowtail ConclusioncoreStrategic partnership to address WTP (Future Pensions Act) transition in the Netherlands. Lumera's AxyLife administration platform integrates with Yellowtail Conclusion's digital portal solution, enabling real-time pension information access for participants. Successfully launched 16 participant portals in first year, with plans to expand to employer and transition portals.
- EquisoftcorePartnership to deliver Pension Fusion ISP solution for UK Pensions Dashboards Programme. Equisoft and Lumera partnership enabled the full connection process for dashboards ecosystem, providing data access for over 15 million members.
- CognizantminorCognizant's cost-effective as-a-Service model strengthened by Lumera's policy administration environment. Service centre in Vilnius with staff speaking Scandinavian languages and familiar with Lumera platform.
- flexIQminorConsultancy active in Dutch pension market where IT and Business intersect. With 75+ experienced consultants deeply involved in projects including migrations, implementations, optimizations, maintenance, outsourcing, liquidations, conversions, and data optimizations.
- Future CoreminorFintech consulting with broad knowledge and experience in financial services and Life and Pensions industry. All consultants have extensive experience and deep understanding of Lumera's policy administration environment.
- SetPaceminorSupports Life and Pensions providers and fintech companies in shortening time-to-market through test automation and system development. Consultants have wide-ranging competencies in test automation and integration with Lumera's policy administration environment.
- Microsoft AzurecoreLumera's Prudent Revolution is a Cloud-First transformation. Environments are built on Microsoft Azure platform to support the performance and compliance required by the Life and Pensions industry.
Scale indicators9 records
Recent moves6 records
Expansion highlights7 records
Lumera competitors and assessment
Company assessmentDirect peers
- Bravura Solutions: Australia-headquartered Bravura provides policy administration software for life insurance, pensions, and wealth management across the UK, Europe, and APAC. Closest direct peer to Lumera given overlapping Life & Pensions platform focus, similar UK/European customer base, and comparable wealth and pensions admin modules.
- Sapiens International: Israel-based Sapiens is a global insurance software publisher with a strong Life & Annuities, Pensions, and Reinsurance suite. Highly comparable SaaS/core-platform business model and similar regulator-driven transformation value proposition in the European life insurance market.
- EIS Group: EIS provides a core insurance platform (policy administration, claims, billing) used by life, health, and P&C carriers globally. Comparable as a platform vendor competing for the same policy administration modernisation budgets as Lumera, especially in European life and group schemes.
- Majesco: Majesco is a cloud-native insurance software vendor serving life, annuities, group, and P&C carriers. Overlaps with Lumera in cloud-first policy administration and digital transformation for mid-to-large insurers pursuing modernisation without disruption.
Broad incumbents
- FIS: FIS is a large-scale financial technology incumbent serving insurance, pensions, wealth, and retail banking. Overlaps with Lumera in life and pensions administration and wealth platforms, but competes from a much broader portfolio rather than a Life & Pensions specialty.
- DXC Technology: DXC is a global IT services incumbent with a sizable Insurance and BPS practice including policy admin modernisation and BPO. Comparable as a broad incumbent offering competing transformation services and platform integration for European Life & Pensions carriers.
- CGI: CGI is a global IT and business consulting firm with deep European insurance and pensions delivery capability. Comparable as a broad incumbent serving the same European Life & Pensions modernisation RFPs, particularly in the UK and Nordic regions.
- TCS (Tata Consultancy Services): TCS is a large global IT services provider with a significant BFSI insurance practice delivering core policy administration transformations, migrations, and digital modernisation. Competes for the same large-carrier transformation budgets as Lumera, typically via SI-led delivery.
- Capgemini: Capgemini is a global consulting and technology services firm with a dedicated Insurance practice covering life, pensions, and asset management. Comparable as a broad incumbent offering end-to-end transformation services and partner-channel options in the European market.
Emerging players
- Equisoft: Equisoft is a Montreal-headquartered insurtech and wealthtech vendor with insurance and pension data exchange products. Already a strategic Lumera partner for the Pension Fusion ISP, and adjacent in the wealth/life data ecosystem where Lumera also competes.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Lumera social profiles
Digital presenceLumera financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lumera leadership team
Management profileNumber of profiles
Profiles21 records
Lumera subsidiaries and ownership
Company hierarchySubsidiaries4 records
Lumera funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lumera M&A and investment
M&A and investmentM&A4 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lumera
What does Lumera do?
Lumera provides a cloud-native SaaS policy administration platform for the Life and Pensions industry, supporting group protection, defined contribution, defined benefit, and hybrid pension schemes. The platform is delivered as Lumera Live on Microsoft Azure and is complemented by migration services, data consultancy, customer empowerment solutions, and transformation consulting that enable insurers, master trusts, and pension funds to modernise legacy systems without disrupting live operations.
Is Lumera a public or private company?
Lumera is a private company. It is classified as private equity controlled and is currently operating.
When was Lumera founded?
Lumera was founded in 2003. It employs 501 to 1,000 people.
Where is Lumera based?
Lumera is headquartered in Stockholm, Sweden, in the Europe region.
How does Lumera make money?
Three revenue lines are on record. Software Platform Licensing and Subscription is the primary driver. The others are implementation and Consulting Services and data Services.
Who are Lumera's main competitors?
Direct peers on record are Bravura Solutions, Sapiens International, EIS Group and Majesco. Broad incumbents are FIS, DXC Technology, CGI, TCS (Tata Consultancy Services) and Capgemini. Equisoft is listed as an emerging player.
Does Lumera have an API?
Yes. Lumera's platform is described as having an API-first architecture that enables integration with the ecosystem growing around Life and Pensions, allowing developers to create new offers that integrate with the platform.
What industry is Lumera in?
Lumera's product category is Insurance Technology / Pension Administration Software. Its primary akta.pro industry code is BPAEACAA, Cloud Strategy, Assessment & Roadmap, with a secondary code of BPAEACAF, Cloud Managed Services (Operations, Monitoring, Patching). Its NAICS code is 513210 and its SIC code is 7370.