Revolutionizing Finnish Savings: Nordnet and Lumera’s Collaborative Launch of SIP Insurance Savings Account

Nordnet, the pan-Nordic digital platform for savings and investments, has extended its partnership with Lumera to introduce an all-digital, low-fee product offering for the Finnish Savings and Investment Policy (SIP) account. This expansion of their business partnership now spans across four Nordic countries, enabling Nordnet to reach a wider audience with its insurance savings solution.

Background

Leveraging the Lumera platform, Nordnet aims to provide private savers in Finland with the same level of tools and information enjoyed by professionals. The platform has been designed to streamline policy administration and supports Nordnet’s mission to empower individuals in managing their financial future.

Expansion of Partnership

The partnership between Nordnet and Lumera has now expanded beyond Sweden, Denmark, and Norway to include Finland. This move enables Nordnet to broaden its reach in insurance savings and cater to the growing demand for such products in the Finnish market. By leveraging their combined expertise, Nordnet and Lumera are well-positioned to make a significant impact in Finland’s SIP market.

Overview of Nordnet’s SIP Offering in Finland

Nordnet’s SIP offering in Finland stands out for several reasons. Firstly, Finnish savers can benefit from tax exemptions on capital gains until withdrawal, allowing them to reinvest returns and dividends without tax implications. Additionally, this solution offers a range of benefits, including flexibility, a broader investment universe, competitive pricing, and a fully digital experience. These features provide Finnish savers with a unique and advantageous solution to meet their financial goals.

Lumera’s Role in Digital Transformation

Lumera is committed to driving the digital transformation of the European life and pensions industry. Through the introduction of advanced technologies such as AI-powered automation and business analytics, Lumera aims to streamline policy administration and enhance the overall customer experience. This strategic focus aligns perfectly with Nordnet’s goal to provide its customers with a seamless and technology-driven platform.

Quote from Nordnet’s Head of Life and Pensions

Per Lindberg, Head of Life and Pensions at Nordnet, expressed the instrumental role played by Lumera in enabling this initiative. The partnership with Lumera has been crucial in bringing their innovative SIP offering to the Finnish market, ensuring that Nordnet provides Finnish savers with a robust and comprehensive solution.

Advantages of Nordnet’s SIP Offering

Nordnet’s SIP account offering in Finland sets itself apart from competitors in terms of flexibility, pricing, and the digital experience. The tax exemptions on capital gains, coupled with a broad investment universe, allow Finnish savers to make the most out of their investments. Furthermore, competitive pricing ensures cost efficiency, while the fully digital experience offers convenience and accessibility.

Quote from Lumera’s Group CEO

Mats Lillienberg, Group CEO at Lumera, praised Nordnet’s trust in Lumera and its policy administration platform. This trust exemplifies the strength and durability of their partnership, showcasing Lumera’s commitment to providing cutting-edge solutions to drive innovation in the insurance sector.

Nordnet’s partnership with Lumera has been pivotal in the launch of their SIP insurance savings account offering in Finland. The flexibility, pricing, and digital experience provided by Nordnet’s platform, combined with Lumera’s focus on digital transformation, ensure that Finnish savers have access to a unique and advantageous solution. As Nordnet expands its reach into the Finnish market, the partnership with Lumera will continue to play a crucial role in shaping the future of insurance savings in the region.

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