Lumera to acquire ITM

Lumera, a European policy admin system provider for L&H insurers, plans to acquire ITM, a UK-based data management and technology solutions provider for the Life and Pensions markets.

ITM’s client list includes most of the largest UK pension funds, and over 160 professionals will join Lumera.

The acquisition supports Lumera’s market expansion and enhances its offerings, including data analysis, regulatory compliance, de-risking, liability management, data migrations, data quality, and data cleansing. ITM also provides consultancy for large-scale transformations in technology and business models.

“This is a union of two successful businesses with much in common, and above all, a joint vision for digitalizing the Life and Pensions industry which we serve. With their combination of industry and tech expertise covering Life and Pensions, data management and pensions dashboards, ITM is a trusted partner to leaders in the UK Life and Pensions space, resembling our status in the Nordic markets. I’m also confident that our teams are complementary and highly compatible in terms of skills, spirit and culture.” – Jonas Alfredson, CEO of Lumera .

“We believe the time is right for ITM to enter a new phase and a larger context. We look forward to Lumera supporting our ongoing growth in the UK pension data market. Strategically and culturally, Lumera provides an excellent match with our organization, as well as with our technology and services portfolios. Together with Lumera, we now look forward to further strengthening our offering to add even more customer value. Lumera has thoroughly impressed us with their PAS technology and their track record from working with customers through major transformation in some of the most competitive insurance and pensions markets.” – Mark Lecompte, CEO of ITM.