Insurance company Anorak is raising £ 5 million to build “the world’s smartest life insurance companion”

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

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The round was led by Outward VC, which also included Triple Point Ventures and existing investor Kamet Ventures.

The round was supported by a list of leading angel investors in the European insurtech space, including Nic 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 Neale (Founders of Fonix and Grabyo).

The fundraiser will be used to accelerate the expansion of Anorak’s sales and partner network while investing in its unique fully automated advisory platform. Anorak is currently the only platform that offers a seamless omnichannel experience while also allowing users to connect with expert advisors if they so choose.

Anorak was founded in 2017 together with venture builder Kamet Ventures and has set itself the goal of building the smartest life insurance partner in the world. CEO David Vanek, former CFO of the group, and Vincent Durnez, former CIO at AXA Direct and CTO of Prima Solutions and Fluo, recognized that while life insurance was an integral part of everyone’s life, it was a very important part of most were complex to understand, acquire.

You founded Anorak to make life insurance and competent financial advice available to everyone. Statistics speak for themselves – 53% of people in the UK still do not have protection and 54% do not know how to fully protect themselves or how much to spend. The Anorak platform helps people understand their financial liabilities, provides them with tailored online advice, and ensures they are getting the right coverage.

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

Sanchit Dhote, Investment Manager at Outward VC, commented: “The Anorak team has developed an innovative approach that is fundamentally changing the way we approach life insurance. The protection gap is growing, and anorak is already a leading player in the move to embedded insurance. We believe that anorak has the potential to become the first point of contact for daily insurance advice. “

Stephane Guinet, CEO of Kamet Ventures, said, “I am delighted that Anorak has reached another important milestone as it continues to help people get the protection they need to protect themselves and their families. Since we started working with them in 2017, David and Vincent have demonstrated the passion, drive and ingenuity that I believe are integral parts of any disruptive business and I can’t wait to see where they go as go next. “

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