Platform SEI's managing director Brett Williams has joined forces with his son to launch a fintech company to provide personalised financial products such as life insurance.
Certua will use data to personalise financial products and provide ongoing recommendations.
It has been founded by John Levin, the company’s chairman, and Tom Williams, its chief executive.
Life insurance will be the first service to launch and will identify risk exposure throughout an individual’s life span to create products which adjust automatically based on a client’s needs.
Clients will have one insurance policy with multiple different benefits, backed by different data sources, sold on either an advised or direct to consumer basis.
Mr Williams said: “Financial services are among the last big industries to be disrupted; but with open data, changing consumer attitudes and the pace at which technology is evolving, we see it as inevitable.
“We believe that the future of financial planning is going to involve a combination of advised and self-service solutions powered by technology.
“With Certua, we wanted to create a proposition that would augment adviser's abilities and provide the option for either advised or self-serve depending on individual needs.
Certua’s advisory board members include data scientist Peter Hayes and ex-chief executive of Old Mutual Jim Sutcliffe while non-executive directors include Brett Williams, managing director of SEI, and technology entrepreneur Jules Pittam.
Mr Tom Williams added: “We see the split in protection and investment advice following Retail Distribution Review as detrimental to the end client, and our solution provides a platform to bring it back together with the aim to enable genuinely holistic financial planning; allowing individuals and their advisers to buy rather than be sold and to insure themselves with simple, modern and relevant digital solutions.”
damian.fantato@ft.com
