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CLARK Group acquires Anorak and further expands on the UK market

  • The European insurtech and the British start-up agree on a vital transaction
  • CLARK Group is at present represented within the UK by Bristol-based insurtech Candid and continues to broaden its presence within the British market

Frankfurt / Bristol, January 2023. CLARK Group, a number one world insurtech, in the present day pronounces the mixing of British start-up Anorak. The transaction permits the unicorn to develop additional and strengthens its presence within the vital UK market. The CLARK Group is represented within the UK market by Candid, a Bristol-based insurtech. With the manufacturers Tom, Polly and Winston, Candid is the quickest rising life and safety enterprise within the UK with and has proven triple digit 12 months on 12 months development since coming into the safety market as a distributor. Anorak is the proper match to enhance the model portfolio and an addition to the digital dealer journey of Candid and the CLARK Group, because the revolutionary insurtech is reinventing life insurance coverage distribution. Anorak is the primary enterprise to convey a totally automated Direct-to-Buyer (D2C) and Enterprise-to-Enterprise-to-Client (B2B2C) digital safety recommendation platform to the UK market.

Strategic alignment for success-driven development

With this acquisition CLARK Group is taking an enormous step nearer to its bold development targets: “Our objective is to change into the most important insurance coverage dealer in Europe. Candid and Anorak becoming a member of forces is a promising foundation for the expansion of our joint ventures. We see large potential within the UK marketplace for the CLARK Group,” says Christopher Oster, CEO and co-founder of the CLARK Group.

Matt Edwards, CEO of Candid, provides “Anorak has an enchanting proposition that I’ve been following for a while. The founders have been early movers within the inevitable digitalisation of the safety market and have introduced the primary absolutely automated and controlled on-line recommendation path to market, an incredible achievement. Anorak’s know-how and model will vastly strengthen our safety proposition and speed up our development plans within the UK market. We’re really excited to welcome Anorak to the Group.”

David Vanek, CEO of Anorak: “We’re thrilled to hitch Clark group, and to contribute to its mission to constructing the European largest insurance coverage dealer. Candid’s management crew has constructed the quickest rising safety insurance coverage distribution platform within the UK, by a protracted shot. With Candid’s help, Anorak will be capable to speed up its development trajectory, giving everybody quick access to knowledgeable monetary recommendation on Revenue Safety and Life.”

The rise of the CLARK Group

In 2015 Marco Adelt (Managing Director Germany), Chris Lodde (Managing Director Worldwide) and Christopher Oster (CEO) recognised the alternatives of digitalisation for the insurance coverage trade. Their founding of CLARK Group in Germany confirmed that outdated constructions will be damaged down and new markets will be created when you have a good suggestion. Inside the final seven years CLARK Group has attracted worldwide buyers corresponding to Allianz X, Tencent, White Star Capital, Yabeo and Portag3, elevating greater than 170 million euros. In November 2021, the Frankfurt-based insurtech introduced the mixing of finanzen Group, one of many main European platforms for info on insurance coverage and monetary merchandise and the technology of insurance coverage prospects. The transaction concurrently made CLARK a unicorn and one of many largest insurtechs on this planet. The CLARK Group was based in early 2022 and now has greater than 2 million prospects.

About CLARK Group
The CLARK Group is likely one of the largest world insurtechs. The mission of the CLARK Group is to construct Europe’s greatest insurance coverage advisor. Insurtech presents a cell app by means of which prospects can handle their insurance coverage in essentially the most handy manner. Traders like Allianz X, Portage, White Star Capital and Yabeo and Tencent help CLARK. Round 30 manufacturers are bundled beneath the umbrella of the CLARK Group, offering nice insurance coverage experiences to greater than 2 million prospects. Over 700 staff work in workplaces in Frankfurt (headquarter), Berlin, Püttlingen, Bristol, Amsterdam, Vienna, Paris and Zurich.

About Anorak
Anorak is the world’s first absolutely automated life insurance coverage recommendation platform. The web dealer uniquely gives bespoke, unbiased and controlled recommendation, placing the pursuits of the consumer first. Anorak’s award-winning know-how will be built-in into current software program so that folks can entry life insurance coverage choices whereas utilizing on a regular basis companies corresponding to challenger banks, cash apps, on-line retailers, mortgage brokers and funding platforms. Based in 2017 by David Vanek, former group CFO and Vincent Durnez, CIO at AXA Direct and CTO of Prima Options and Fluo, the corporate is on a mission to construct the world’s smartest life insurance coverage companion.

About Candid
Candid, a Bristol primarily based insurtech gives recommendation and success of life and safety merchandise. The Candid crew is obsessed with defending UK Mums and Dads and thru an revolutionary combine of selling, know-how and customer support. Candid protects over 100,000 UK Mums and Dads yearly. Lead by CEO Matt Edwards and COO Joshua Sargent, Candid can be the quickest rising life and safety enterprise within the UK with triple digit 12 months on 12 months development.

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