Lumera provides a digital platform for Life and Pensions administration, utilizing an API-first architecture to enable flexible and personalized group protection and workplace pension schemes. The company addresses the complexity of legacy systems and regulatory challenges by offering future-proof technology and data solutions that empower end-customers with self-service capabilities and enhanced data insights.
Funding
Funding not disclosed
Founders
Product
Problem
Life and Pensions providers face challenges in adapting to increasing customer expectations for personalized and digital-first experiences, while also dealing with complex legacy systems and evolving regulatory requirements. This can lead to inefficiencies, limited self-service capabilities for end-customers, and difficulties in leveraging data for enhanced insights.
Solution
Lumera offers a digital platform designed to modernize Life and Pensions administration, enabling flexible and personalized group protection and workplace pension schemes. The platform utilizes an API-first architecture to facilitate seamless integration with existing systems and third-party services. By consolidating legacy systems onto a unified platform, Lumera empowers end-customers with self-service capabilities, provides enhanced data insights, and ensures compliance with evolving regulations. This allows insurers, master trusts, pension funds, and administration providers to deliver customer-centric experiences and unlock new product and service offerings.
Target Audience
Lumera primarily serves insurers, master trusts, pension funds, and administration providers within the Life and Pensions industry seeking to modernize their operations and enhance customer engagement.
Features
- API-first architecture for flexible integration and customization
- SaaS platform for group protection, defined contribution, defined benefit, and hybrid schemes
- Data provision and consultancy services to power pensions dashboards and self-service portals
- Migration support for consolidating legacy systems and managing end-customer data
- Data consultancy services to transform policy data into a value-generating asset
- Support for customer empowerment through data-driven insights and personalized experiences