Anorak Technologies

Anorak finds users the life policy that best suits their situation and needs. Users provide the platform with a brief life ‘checkup’ and, within minutes, the venture can provide a detailed action plan and offer 3 insurance options that have been specifically matched to answers given in the checkup. The venture, based in both Paris and London, was founded in 2017.

Anorak’s life insurance platform and independent robo-advisor offers personalised action recommendations on risk exposure through its use of AI, machine learning and multiple data points. The venture is focused on shortening the customer journey, replacing confusing and complex jargon with simple yet specific questions and statements in plain English.

Anorak is backed by AXA’s Kamet, which invested into its $5.59m Seed round. The funding has been earmarked towards platform development.

Anorak’s leadership team have significant industry experience, with CEO David Vanek previously serving as a VP at J.P. Morgan, and CTO Vincent Durnez previously co-founded Insurtech Fluo.com and served as Chief Architect at AXA Global Direct.

In 2018, Anorak announced they would be bringing live and impartial insurance advice to Starling Bank's marketshare following a recent partnership with the challenger bank.

The following year, the FinTech Innovation Lab in London revealed that Anorak would be among its 20-strong start-up cohort. The programme, founded by Accenture and its partners in 2012, runs for three months between 7 January and 28 March. Participating start-ups will work with executives from banks and insurers such as BlackRock, HSBC, Santander, and Wells Fargo to further develop their business models and solutions.

In July 2020 Anorak announced it was partnering with fintech Snoop to offer its client personalised life insurance advice through its app.

In March 2021 Anorak partnered with free online mortgage broker Trussle, to provide even more support to home buyers. Anorak has been integrated into Trussle's mortgage sourcing system, streamlining the life insurance purchasing process and helping educate users on making the right insurance decisions during a period of fast-paced yet uncertain home-buying in the UK.

In June 2021 Anorak raised £5m in fresh funding to accelerate the expansion of its distribution and partners network. The automated advice platform already provides services to users from Starling Bank, Clearscore and Canopy, and the insurtech stated it plans to work with more distributions and brands that don't traditionally sell insurance products.

In January 2021 the company was acquired by The CLARK Group.   The group sees Anorak as a perfect fit to complement its brand portfolio in the UK that comprises Tom, Polly and Winston brands.