ITM wins new contract with Lucida PLC

10-Jul-2008

Lucida plc, a new UK insurance company offering pensions solutions to companies and trustees has appointed ITM Ltd as its specialist data management partner

As an integral part of Lucida’s data quality proposition, ITM will provide specialist data analysis to ensure accurate membership data at due diligence and all other stages of Lucida deals. ITM will also manage the migration of data to Lucida’s administration and annuity payment platform.

John Broker of ITM commented ‘using DAaRT, our bespoke data analysis software, we ensure clarity at the outset of each deal, both for trustees looking to transfer risk and for Lucida in identifying liabilities. This will mean accurate, realistic pricing and will mitigate risk and delays in the transaction. It is an extension of the work we have undertaken for many years directly for trustees as part of their risk and governance control. We are delighted to be part of the Lucida proposition’.

Margaret Snowdon of Lucida commented ‘Lucida has a complete and holistic solution to the risks, volatility and administration burden associated with corporate defined benefit pension schemes. ITM is well placed to assist us in enhancing our proposition, not just to trustees but also in terms of its direct impact on scheme members. Our approach is to ensure clarity and peace of mind for all parties involved in a transaction and good data is at the heart of this philosophy’.

Notes to Editors

Independent Transition Management Ltd (ITM) provides high quality, specialist IT consulting and support services across the UK pensions industry, helping Trustees, Pension Managers and Third Party Administrators to manage risk, establish and maintain effective internal controls for pension scheme membership data.

Key specialist services are:-

  • data analysis and data cleaning
  • data migration
  • scheme implementations
  • project management
  • system coding and support
  • DC data reconciliations
  • system and data audits
  • system project and support services for in house pension departments
  • data management services for communication consultants

ITM clients include:-

  • trustees of occupational pension schemes
  • third party pension administrators
  • corporate trustees
  • system providers
  • benefit consultants and actuaries
  • flexible benefit providers
  • communication consultants
  • insurance companies and life offices
  • other major financial institutions

Further Information / Media Contacts -
ITM Ltd - John Broker – 0207 648 0095

Lucida plc – Margaret Snowdon – 0207 647 1610