How they describe themselves: Hello, we’re Anorak. We’re building the world’s smartest independent life insurance adviser with a mission to redefine the way millions protect their future. To put people back in control.
We’ve developed a new model for buying life insurance that enables all of us to make the right choice not just the cheapest. A smart independent insurance adviser founded on trust and transparency. To do this, we use data science and machine learning to power a service that gives everyone access to tailored advice about their life and their risks.
How they describe their product/innovation: Anorak is a smart way to buy life insurance, direct to your users. Anorak is an easy way to offer personalised, regulated life insurance advice (and route to purchase) to your customers. We combine cutting-edge data science with decades of insurance expertise to help people protect their family and take control of their financial health.
The Anorak API can be integrated with any app or website (PFM, bank, comparison site, broker, etc.). We’re flexible when it comes to designing for your platform, and we work collaboratively with you to build and customise the best experience for your users.
Anorak has built a smart data service using open banking to analyse users’ risks and coverage needs and transform bank data into protection advice.
Product distribution strategy: Direct to Consumer (B2C), through financial institutions, through other fintech companies and platforms