Cofunds CEO: Life companies should not run platforms

Cofunds is planning to target life companies failing to attain traction in the platform market.

The platform recently passed £45bn of assets under administration, and is well-positioned to "exploit" life companies wasting millions of pounds on a platform solution, according to CEO Martin Davis (pictured). His tenure at Zurich, a firm that has famously struggled to launch its retail platform, had taught him life companies rarely get platforms right, he said. "We will run a platform for a life company if they so wish, like we do for L&G," he said. "I think in the future there will be more businesses like ours who are independent that run platforms for life companies. "Having...