Nordea Liv Norway shifts 58M transactions to Lumera cloud

Nordea Liv Norway migrated 58 million transaction records, 70,000 policy contracts and 163,000 investment accounts to Lumera’s cloud platform in the first half of 2026. The company plans to move more than 700,000 insurance policies from multiple legacy systems to the same platform by 2028 and to complete a wider systems modernisation by 2030.

The transfers were carried out under a partnership with Insurtech firm Lumera that began in 2023. Nordea Liv Norway reported the work was completed without major disruption to customers and described the migrations as a foundation for further platform consolidation and product development for life and pensions customers.

Account and data migrations in financial services involve large volumes of historical records and operational risk. Nordea Liv Norway noted many contracts date back to the 1970s and 1980s, requiring careful handling to preserve accuracy and stability as data moves from older systems to cloud-native infrastructure.

Anders Granstad, chief executive of Nordea Liv Norway, commented: “The move to the cloud will enable the wider transformation. 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, added: “This project is a comprehensive undertaking, with large volumes of data and strict demands on quality and stability. Working closely with Nordea Liv, we have now completed two important migrations that lay the foundation for further modernisation and development.”

Nordea Liv said the recent transfers covered 58 million individual transaction records in addition to the contract and investment-account moves completed in the first six months of 2026. The insurer intends to continue migrating remaining policies over the next two years to meet its 2028 target and to finish its broader IT programme by 2030.

Nordea Group, the parent company, published a 2030 strategy in November 2025 prioritising technology, data and artificial intelligence to simplify platforms and modernise legacy systems across the Nordics. The bank expects to reduce its workforce by about 1,500 roles over the next two years as part of automation and process optimisation, with estimated restructuring costs of roughly €190 million; those changes are subject to union consultations and measures for reskilling and internal redeployment.

Lumera describes its platform as capable of handling large-scale policy transfers while preserving data integrity and operational stability. Nordea Liv framed the programme as an effort to standardise systems, reduce the number of platforms and prepare for new digital services for life and pensions customers.