Anorak, a Farnborough, UK-based automated life insurance advice platform, raised £5m in funding.
The round was led by Outward VC with participation from Nic Kohler, the 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 (Founder of Fonix and Grabyo).
The company intends to use the funds to accelerate the expansion of its distribution and partners network, while investing in its fully automated advice platform.
Led by CEO David Vanek, Anorak provides a platform that helps people to understand their financial liabilities, providing them with online tailored advice and making sure they get the right cover in place. The technology can be integrated into existing software so that people can access life insurance options while using everyday services such as digital banks, online mortgage brokers, investment platforms, digital money management service and challenger banks.
Delivering life insurance advice to users from Starling Bank, Snoop, Clearscore, Canopy, Billbuddy, Vivup and OpenMoney, the company will be focusing on developing its partner network, working with distribution platforms and brands that are not traditionally selling insurance products.
FinSMEs
03/06/2021