PwC Luxembourg & Lifeware

Lifeware – dramatically enhance all-user experience, handle change whilst variabilising your entire cost base – 100% robust allowing you to reallocate your teams & resources to focus on core value-driving activities.

We have formed a partnership with Lifeware to support wealth and life insurers in modernising their business with an end-to-end bespoke platform to digitise entire businesses models. The result, enhanced client / distributor experience while delivering step-changes in cost efficiency and resultant insurer profitability. Furthermore, together with insurance colleagues in the wider PwC Network and our local technology and data analytics / machine learning teams, we have developed several digital assets and accelerators to allow insurers to reach their return on investment more quickly.

Since its inception in 1998, Lifeware has been at the forefront of reshaping the life insurance industry, and we are proud to be on this transformative journey together.

By combining their different skills – from creating new insurance products to managing the details of insurance policies – Lifeware came up with new and clever ways of doing business. Think of it as the operating system for life insurance. This unique approach is where Lifeware really shines – it helps their clients do their work faster and at a lower cost. It's one of the most important things Lifeware does - because it helps our clients stay competitive. And it helps them grow their revenues too by creating new kinds of insurance products and selling them, opening up new possibilities for the industry.

PwC and Lifeware are working together as partners who want to see innovation and growth become the norm in the insurance industry. Our partnership is not just about business – it's about using Lifeware's cutting-edge technology and PwC's deep industry know-how to make insurance better. 

What the Lifeware System Offers

Our Value Proposition

Scalable secure environment

Private designated secure Tier IV cloud based insurance offering scalable up/ down to your evolving needs

Migration experience – low friction at speed

Benefit from Lifeware’s experience successfully migrating (>40) life platforms & related legacy infrastructure

Reduced total cost to serve

Controllable, flexible pricing model aligned to your success & scale whilst enabling efficient regulatory change – win-win solution

Facilitates  change of any kind – product, regulatory, market

Agile, DevOps, test driven approach enables fast & robust change & deployment

Enhanced user experience & connected ecosystem

Rich “intuitive” user experience where it’s easy to transact – pleasure to do business

How we do This

  • End-to-end full service or partial solution matched to your need

Lifeware provides full in-platform or partial solution service depending on your specific needs

  • Deep sector knowledge 

Benefit from Lifeware’s experience successfully migrating (>40) life platforms & related legacy infrastructure

  • Fully licensed to service across EU/EEA

Lifeware comprises licenses to enable it to act as an insurer for existing portfolios and new business and a servicer of all past & future policies

  • Supporting full connection with external partners through API

Lifeware developps required functionalities or allow full integration with external provider or partners through API or other technologies

PwC and Lifeware services

Lifeware provides an end-to-end web-based service for insurance that covers the entire value chain. All function areas of the insurer’s business may be run and managed through the Lifeware service.

PwC accompanies Lifeware on the full journey with you including business case, project management,  implementation, workflow design, testing, and post-production support.

Some of the functionalities that can be integrated and automated include:

  • New Business process
  • Eligibility, AML, KYC
  • Policy/Account Administration
  • Customer data management

  • Underlying asset pricing
  • Portfolio Monitoring
  • Portfolio mirroring
  • Order management

  • AML / KYC controls
  • Regulatory monitoring
  • Management reporting
  • Tax reporting
  • Policy reporting
  • Solvency II reporting

  • Sales platform
  • Broker Dashboard
  • Broker/Partner Administration
  • Commission computation & payment

Case studies

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Contact us

Matt Moran

Advisory Partner, Insurance, Alliances Leader, PwC Luxembourg

Tel: +352 49 48 48 2071

Declan Corcoran

Advisory Director, JBR & Strategy, PwC Luxembourg

Tel: +352 62133 20 78

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