How they describe themselves: Anorak is the world’s first fully automated life insurance advice platform. The service gives everyone easy access to impartial, regulated and personalised life insurance advice.
Based on proprietary technologies, the platform and APIs are integrated by partners so that people access life insurance options whilst using everyday services such as challenger banks, money apps, online retailers, mortgage brokers and investment platforms.
Anorak was co-founded in 2017 by David Vanek, former MADE.com group CFO and Vincent Durnez, former CIO at AXA Direct and CTO of Prima Solutions and Fluo.
The company is on a mission to build the world’s smartest life insurance companion and has received £9 million in funding from Kamet Ventures.
How they describe their product/innovation: Anorak offers Starling Bank customers fast and easy access to personalised, transparent, impartial and regulated life insurance advice. Through the in-app Marketplace, Starling customers are now able to connect their accounts with Anorak’s service. With the customers’ consent, Anorak analyses their bank transactions to offer advice on how much life cover they need (if any), for how long and why. Based on this, Anorak matches the user with the best policy from the major insurers, to suit the person’s unique circumstances. The service helps people make the right choice, not just the cheapest.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
Bus. Dev. & Press: David Vanek, CEO, email@example.com