7 years ago

Anorak Technologies Raises £5 Million Series A for Life Insurance Advice Platform

  • Anorak Technologies, a U.K

  • startup building a life insurance advice platform, has raised £5 million in Series A funding led by Kamet Ventures, the tech incubator funded by insurance giant AXA

  • The round brings the total raised by Anorak to £9 million

  • The startup's mission is to build the world's “smartest” automated life insurance advice platform

  • Anorak aims to offer insurance advice at the most appropriate time and place in a person's life, such as when buying a house or starting a family

  • The additional capital will be used to grow Anorak's tech, data, product and business development teams, and to continue to invest in Anorak's unique recommendation engine

  • The startup also plans to integrate with more partners in order to build out its distribution infrastructure for life insurance

  • This will span investment platforms, online mortgage brokers, money management apps, challenger banks, media groups, and gig economy platforms.

      • ProblemFinancial Services

      "Life insurance is complex and often sold through financial advisors targeting high net worth individuals, leaving many people without cover. "

      Solution

      "Anorak is building a platform that provides automated life insurance advice, using data to connect people with suitable products at the right time. It integrates with banking apps and other platforms to streamline the process and provide personalized recommendations. "

      Covered on