Nordea Liv Norway migrates 58m transactions to Lumera cloud

Nordea Liv Norway has completed a large-scale data migration to a cloud platform provided by Insurtech firm Lumera. The transfer occurred in the first six months of 2026 and is part of a multi-year IT modernisation programme running to 2030.

The programme moved 58 million transactions, 70,000 contracts and 163,000 investment accounts onto Lumera’s system. Nordea Liv and Lumera have worked together since 2023. The company plans to migrate more than 700,000 insurance policies from several policy management applications to the Lumera core system by 2028.

The work is intended to reduce technology complexity across Nordea Liv’s life and pensions operations and to replace legacy platforms that have been in use for decades. Many policies were sold in the 1970s and 1980s and continue to be supported by ageing systems that require rebuilding and careful data reconciliation when accounts move to new platforms.

Anders Granstad, chief executive of Nordea Liv Norway, said: “This is an important milestone in the modernisation of our systems. Together with Lumera, we have completed an extensive migration that lays a solid foundation for further development and innovation.”

Jonas Alfredsson, chief executive of Lumera, described the project as a large technical undertaking with strict demands on quality and stability and said the two firms have completed two significant migrations so far.

The migration is part of a wider Nordea Group technology plan announced in late 2025. The bank’s 2030 strategy sets out to modernise legacy systems, consolidate platforms and increase use of technology, data and artificial intelligence. Nordea has said the changes will affect workforce composition and plans to reduce about 1,500 roles over two years, with roughly €190m in restructuring costs. The bank also said it will consult unions and continue investing in staff training.

Nordea Liv said further migrations and system modernisation work will continue through 2028 and feed into the group-wide transformation to 2030. The company said the programme aims to simplify its technology stack, increase engineering productivity and improve the security and resilience of its systems.