Life insurance startup Anorak raises 5 million pounds sterling



Anorak, the world’s first fully automated life insurance consulting platform, has raised £ 5 million on its journey to become the most innovative technology life insurance company in Europe.

The round was led by Outward VC, which also featured Triple Point Ventures and incumbent investor Kamet Ventures. The round was supported by a roster of leading business angels in European insurance, including Nick Kohler, former CEO of Hollard, Paul Evans, Chairman of Allianz PLC and board member of Bupa and SwissRE Europe, Charlie Delingpole (CEO and founder of ComplyAdvantage). ) and Will Neal (founder of Fonix and Grabyo).

The fundraising will be used to accelerate the expansion of Anorak’s distribution and partner network while continuing to invest in its unique fully automated consulting platform. Anorak is currently the only platform that provides a seamless omnichannel experience, allowing users to connect with expert consultants if they wish.

Founded in 2017 with Kamet Ventures, Anorak aims to create the world’s smartest life insurance companion. CEO David Vanek, former CFO of the group, and Vincent Dernez, former CIO at AXA Direct and CTO at Prima Solutions and Fluo, realized that while life insurance was an integral part of everyone’s life, it was too complex for understanding by the majority, and therefore, acquire.

They created Anorak to make life insurance and professional financial advice available to everyone. The statistics speak for themselves – 53% of people still lack protection in the UK, and 54% do not understand how to fully protect themselves or how much they should spend. The Anorak platform helps people understand their financial obligations by providing them with personalized online advice and making sure they get the right coverage.

“Our mission is to help millions of people protect their financial future. We are passionate about advice and believe that everyone should have access to it. We can ensure that everyone gets the right protection for them. ” David Vanek, CEO and co-founder of Anorak, said: “The past 12 months have left many of us in a state of financial uncertainty and many are actively seeking fair and transparent insurance advice. Our platform does just that, and we look forward to continuing to work with our partners to bring this education to the masses. ”

Sanchit Dhote, Investment Manager of Outward VC commented: “The Anorak team has developed an innovative approach that is changing the way life insurance is approached. The protection gap is only widening and Anorak is already a leading player in enabling the move to inline insurance. We believe Anorak has the potential to become an indispensable infrastructure for daily insurance advice. ”

Stéphane Guinet, CEO of Kamet Ventures, said: “I am delighted to see that Anorak has reached another important milestone as they continue to help people gain access to the protection they need to keep themselves and their families safe. Since we started working with them in 2017, David and Vincent have shown the passion, drive, and ingenuity that I believe are essential components of any disruptive business, and I can’t wait to see where they go next. ”

The award-winning technology can be integrated into existing software so that people can access life insurance options while using day-to-day services such as digital banks, online mortgage brokers, investment platforms, digital money management, and applicant banks.

Providing life insurance advice to users from Starling Bank, Snoop, Clearscore, Canopy, Billbuddy, Vivup, and OpenMoney, Anorak will focus on growing its affiliate network by working with distribution platforms and brands that traditionally don’t sell insurance products.


Source link