Enabling the Prudent Revolution: Lumera Migration Factory Services

Insights | Blog Post
09.11.2021

Since 2008, Lumera has migrated over 12 million policies from multiple legacy applications. Using our meticulous approach to migration, we work strategically to address customer needs and support their business goals by bringing data across at the right time, in the right way. This capability rests on Lumera’s Migration Factory Services, which combines industry and tech expertise provided by our team with a powerful, purpose-built toolkit.

Migration Factory Services greatly facilitate the critical task of transferring policy data from legacy systems to Lumera’s platform, a flexible, cloud-native foundation that covers all aspects of Life and Pensions policy administration. The outcome is a low-risk, straightforward transition from the old world – to the new world.

Complementing the rich functionality offered by the Migration Toolkit, Lumera’s Migration Services adds key professional skills and experience. Our experts team up with customers for planning and successful execution of migrations.

According to analyst firm *Gartner Inc., Lumera stands out among European Life and Pensions solutions vendors through our capabilities for configuring legacy insurance products, replicating product features, and then migrating policies to a future-proof policy administration platform.

Universal migration capabilities

Lumera Migration Factory Services employs a systematic approach, based on our experience, for migrating legacy applications and policies. This includes:

  • Best practices for success
  • Training of implementation partners
  • Documentation
  • Migration Toolkit
  • Product roadmap and enhanced functionality

The Lumera Migration Toolkit, our magic toolbox, enables us to reuse and leverage experiences from completed migrations for the benefit of all future projects. Recently added toolkit functionality includes:

  • Accrued fees on policies in legacy systems to enable full-year IDD (Insurance Distribution Directive) reporting, including the migrated policies at year-end.
  • Migrations of both historical and open cases of illness claims enabled for rapid transition from legacy systems to Lumera.
  • Enhanced migration of occupational pension plans.

Benefits of Lumera Migration Factory Services

  • Enables reusing integrations to internal and external systems and digital customer-centric journeys. This helps save costs, raise productivity and customer satisfaction while reducing churn.
  • Improved administration by better allocation of resources and process automation. Self-sustainability process improvements enable continuous management efficacy.
  • Toolkit designed and proven to facilitate migrations of applications and policies, including testing, cleansing, and generation comparison reports between legacy systems and Lumera.

Contact us to learn more about how to initiate your Prudent Revolution, migrating from multiple legacy systems to a future-proof Policy Administration Environment – Lumera.

 

*Gartner MQ report EMEA PAS 2019.

Related content

Stay informed – and stay ahead

Keep up to date with the latest insights, advice and opinions from across the industry.

Complete the form to receive relevant insights, event invites and industry news.