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About Lumera

Lumera is an insurtech company dedicated to the digital transformation of the European Life and Pensions industry.

The Prudent Revolution is our mission – bridging technology and partnership to navigate the fastest, safest path through complex change for L&P providers.

With a faultless track record from extensive migration projects, Lumera combines our cloud-native policy administration platform with deep domain expertise.

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Lumera history

The beginnings of Lumera dates back at the turn of the millennium, as the banking and insurance industries were slowly converging. Each side then had issues with dated cost structures and legacy systems designed for serving regulated markets.

A small group of likeminded pioneers recognized this as an opportunity, and that the time was right for breaking new ground: What if we could establish a common, yet flexible standard for the insurance industry? One that empowers insurers to take on their challenges and explore new business models and do so with significantly lower overhead costs.

These ideas were turned into action. The result is Inca, a versatile and extensible policy management environment that brings agility and control to life insurance and pensions providers, including their critical business processes and services.

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  • 2003

    With Swedbank signed as the first customer through a two-year contract, Itello opens for business in Stockholm, with the Royal Palace across the street from the office.   After five years of meticulous research, planning and development, Inca is launched in Sweden.  
  • 2004

    Inca adds a solution for occupational pensions, capable of easy and efficient management of large volumes of individual pension plans. 

  • 2005

    Nordnet becomes the second customer. 

  • 2006

    Company has a staff of 35. 

  • 2007

    Nordea is a new customer. 

  • 2008

    Major update of Inca with improved code and many new features added for extending business opportunities and minimizing costs and risks for insurers, while delivering superior performance and extensive automation. 

    The first migration takes place. 

    Movestic (Moderna) is a new customer.  

    Nordnet is the first customer in Norway. 

  • 2009

    Inca adds support for multiple languages and currencies. 

    Major upgrade of Inca’s fund order management capabilities, ensuring a highly automated and fully transparent process.

    More than one million insurance contracts are managed by customers using Inca. 

    Company nominated to the Deloitte FAST 50. 

  • 2010

    2 million migrated policies. 

    AMF Pension and Brummer Life are new customers 

    Nordnet is the first customer in Denmark. 

    The company reaches 100 employees. 

  • 2012

    New high-performance billing engine brings significant productivity gains, making Inca ready to process hundreds of thousands monthly payouts. It also enables automation of manual tasks including recalculation, return and recovery. 

  • 2013

    Folksam is a new customer. 

  • 2014

    Inca offers fully automatic reconciliation with bank accounts, which facilitates accounting and audits.  

  • 2015

    SPP is a new customer. 

  • 2016

    Major rebuild of the Inca platform introduced, offering added support for insurance migration and automatic merging of insurances at intake. This gives individuals better overview of their savings, while reducing management costs for the provider. 

    Inca Portal Application Framework (PAF) is launched, supporting users to build business applications to service their – and policy holders´ – most pressing needs directly on the platform. 

    Europe’s largest migration project according to Gartner, 5.3 million policies migrated.    

    Company has a staff of 125. 

  • 2017

    Significant update of Inca’s Plan functionality for managing occupational pensions. Key improvements include streamlined administration with shorter processing time and the new Interactive help feature which enables smart guidance and effective skills development.  

    Monterro invests in Itello and becomes the main owner. 

    Skandia is a new customer. 

  • 2018

    As GDPR is implemented across Europe, insurers face a host of stringent data protection and privacy requirements. From day one with the updated legislation, Inca offers a suite of new features to facilitate GDPR compliance, including anonymization and filtering of personal data. Individuals may also request a copy of their personal records kept by Inca users. 

    Necessary functions and capabilities to ensure compliance with the Insurance Distribution Directive regulations (IDD) from start. 

    Over 10 million migrated policies. 

    First Nordic vendor to be recognized in the Gartner Magic Quadrant for Policy Administration Systems in Europe. 

    Fora is a new customer. 

  • 2019

    Acquires Eikos AS, expanding presence in Norway. 

  • 2020

    Inca becomes available as a cloud service –now known as Lumera Live. 

    Significant upgrade of Inca´s fund administration and fund order management functions. 

    Handelsbanken  is a new customer. 

    Eikos signs portfolio management contract with KLP. 

    The company reaches 222 employees. 

  • 2021

    To support expansion into new European markets, Itello rebrands as Lumera. 

    Close to 12 million migrated policies. 

    PP Pension migrates to Lumera Live solution with implementation by Future Core Cloud.

    Skandia selects Lumera for major enterprise systems upgrade. 

  • 2022

    Acquires and invests in Ai-London for continued European expansion.

    Selected by HAYAH, a digital insurance pioneer in the Middle East region, to deliver fully digitalized AI-driven insurance platform.

    Vita, Life insurance company, d.d., selects Lumera as strategic AI & automation partner.

    Acquires AxyWare to solidify commitment to Dutch market.

    The company reaches 340 employees.

Latest news

Lumera appoints Jonas Alfredson as Chief Financial Officer

Stockholm, January 17, 2023 – Lumera, a leading software company dedicated to the digital transformation of the European Life and Pensions industry, has appointed Jonas Alfredson as Chief Financial…

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Lumera acquires AxyWare to solidify commitment to Dutch market

Lumera strengthens its commitment to the Dutch Life and Pensions market with the strategic acquisition of systems provider AxyWare. Stockholm, December 22, 2022 – Lumera, a leading software company…

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Lumera selected by HAYAH to deliver fully digitalized insurance platform

Digital insurance pioneer HAYAH partners with Lumera to co-create their next-generation platform, including AI-powered policy administration. Stockholm, December 6, 2022 – Lumera, a leading…

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Vita, Life insurance company, d.d., selects Lumera* as strategic AI & automation partner

Slovenian bank insurance leader Vita, Life insurance company, d.d. (Vita) has launched a major initiative to modernize its policy administration, now extending the partnership with Lumera Ltd,…

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Lumera appoints Chief Operating Officer

As the former CIO at leading Swedish insurer Folksam during a transformational four-year period, Johan Rudén had a key role in a comprehensive upgrade and modernization of the Folksam Group’s…

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Lumera acquires and invests in Ai-London for continued European expansion

Strategic acquisition will be instrumental for expansion to the UK and Ireland markets, while investing in Ai-London’s vision to create the world’s first AI-powered PAS and adding award-winning…

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Press contact

Christine Blinke
CMO

Phone: +46 8 4109 4000
Email: press@lumera.com

Regeringsgatan 28
SE-111 53 Stockholm, Sweden

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