Certua to launch robo life insurance service in UK
UK-based start-up Certua plans to launch a robo life insurance service in Q3 of this year – with the aim to create products and services that can auto adjust based on customer need.
Using open data, it will provide real-time personalisation of financial solutions, and “ongoing recommendations” for its customers. This means one insurance policy with different options, each driven by a different data source on either an advised or self-serve basis.
Tom Williams, CEO and co-founder of Certua, says the split in protection and investment advice following the Retail Distribution Review (RDR) is “detrimental” to the end client, and its solution provides a platform to “bring it back together”.
The firm was founded in September 2016. Its chairman and co-founder is John Levin. He has more than 25 years’ experience in both insurance and technology; and retains several roles at a variety of firms. These include Amtrust Europe Limited, IGI Group Limited, Quanis, Rocketer, Surely Group and Money Dashboard. Williams also retains his role as partner at Quanis and worked at finserv firm SEI for eight years.
Over in Israel
Last month, and also in the life insurance sector, Israel’s insurtech provider Atidot unveiled the “first” Software-as-a-Service (SaaS) based predictive analytics platform.
The firm says its big data modelling and decision making tools will “accelerate the pace” at which life insurance executives can use intelligence in their decision making. Existing company data is loaded to the proprietary Atidot platform where it will be automatically cleaned and sorted.