Clark

insurtechaggregators / policy management

FOUNDING YEAR: 2015
LOCATION:
Last Update: 03/07/2020

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About

Clark is an insurance platform providing transparent, cheap and comprehensive insurance coverage. Clark offers users simple, fair and customer-centric insurance advice. Users have the ability to quickly assess their insurance status through the Clark app (iOS and Android) or website. Based on algorithms, Clark’s robo-advisor provides analysis on the insurance situation of customers. Customers have the opportunity to improve their insurance situation with just a few clicks. Clark searches the tariffs of more than 160 insurance companies to find the best products.

MEDICI Analysis

Clark is an insurance platform providing transparent, cheap and comprehensive insurance coverage. Clark offers users simple, fair and customer-centric insurance advice.

Focus

PRODUCTS & SERVICES

Mobile insurance app for retail consumers. It is simple and transparent to manage insurance policy through the app.

REVENUE MODEL

The company earns a commission fee through their insurance partners.

MAIN CLIENTS

Ergo

Allianz

VHV Versicherungen

Nurnberger

Barmenia

DKV

Arag

EXISTING PARTNERSHIPS

Partnered with some around 160+ insurance companies.

PRIMARY PROBLEM SOLVED

Customers often pay too much or don’t have an optimal insurance cover. Insurances are difficult, time-consuming and complex. Clark eliminates these problems with a fully digital insurance process: from insurance selection to contract closing. Customers are looking for an easy-to-use platform to manage their contracts and have personalized consulting with individual recommendations. We do business from a customer point of view and even show our customers the commissions we earn on their contracts. Clark has a young and motivated team and combines technology knowledge and insurance know-how with entrepreneurship. Our developed robo-advisor is the first in the industry and makes us and our work most efficient. Clark is easy, transparent and fair.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

REVENUE

$500k - $999k

REVENUE COMMENT:

Since the beginning of this year, Clark increased the volume of managed insurance premiums by a factor of fifteen to 30 million Euros.

TRANSACTIONS COMMENT:

Revenue earned on management and sales commissions up to 500 Euro per customer lifetime.

ACTIVE USERS:

5 digit number

People

FOUNDERS

Steffen Glomb

Chris Lodde

Marco Adelt

BOARD MEMBERS AND ADVISORS

Philip Schmanns

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Axel Springer

Axel Springer SE

Coparion

FinLeap

GMPVC

HitFox Group

IONIQ

Kulczyk Investments

Portag3 Ventures

ProSiebenSat.1 Accelerator

SevenVentures

TA Ventures

Target Global

Tenderloin Ventures

White Star Capital

Yabeo Management

COMMENT:

Clark has a small,efficient team. Each member as unique skills,shares these within the team. Clark works

Momentum

FUNDED

YES

TOTAL FUNDING

$43.81 M

DATE OF LAST FUNDING

Apr 2018

TOTAL FUNDING COMMENT

The company is planning to use the fund to scale its advanced technology platform(April 2018).

SEED PRIOR FUNDING COMMENT

An undisclosed amount funded in Seed round.

FUNDING SERIES

SERIES A  · $14.81 M  · Sep 2016

SERIES B  · $29 M  · Apr 2018

LISTED

NO

For Investors

FUNDING NEEDED:

€0.00

USES OF FUNDS RAISED:

1. Robo-Advisor

2. Staffing

MONTHS LEFT WITH CURRENT CASH BURN RATE:

18 months from 1 Sep, 2016

COMPETITORS:

Knip

GetSafe

Friendsurance

Innovation Programs

BASICS

FOUNDING YEAR:

2015

LOCATION:

Views:

217 VISITORS | 365 VIEWS
LATEST FUNDING ROUND

$43.8 M

TOTAL EMPLOYEES
51-200

About

Clark is an insurance platform providing transparent, cheap and comprehensive insurance coverage. Clark offers users simple, fair and customer-centric insurance advice. Users have the ability to quickly assess their insurance status through the Clark app (iOS and Android) or website. Based on algorithms, Clark’s robo-advisor provides analysis on the insurance situation of customers. Customers have the opportunity to improve their insurance situation with just a few clicks. Clark searches the tariffs of more than 160 insurance companies to find the best products.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Clark is an insurance platform providing transparent, cheap and comprehensive insurance coverage. Clark offers users simple, fair and customer-centric insurance advice.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

Clark

About

Clark is an insurance platform providing transparent, cheap and comprehensive insurance coverage. Clark offers users simple, fair and customer-centric insurance advice. Users have the ability to quickly assess their insurance status through the Clark app (iOS and Android) or website. Based on algorithms, Clark’s robo-advisor provides analysis on the insurance situation of customers. Customers have the opportunity to improve their insurance situation with just a few clicks. Clark searches the tariffs of more than 160 insurance companies to find the best products.

Focus

PRODUCTS & SERVICES

Users have the ability to quickly assess their insurance status through the Clark app (iOS and Android) or website. Based on algorithms, Clark’s robo-advisor provides analysis on the insurance situation of customers. Customers have the opportunity to improve their insurance situation with just a few clicks. Clark searches the tariffs of more than 160 insurance companies to find the best products.

REVENUE MODEL

The company earns a commission fee through their insurance partners.

TOP PROBLEM SOLVED

Customers often pay too much or don’t have an optimal insurance cover. Insurances are difficult, time-consuming and complex. Clark eliminates these problems with a fully digital insurance process: from insurance selection to contract closing. Customers are looking for an easy-to-use platform to manage their contracts and have personalized consulting with individual recommendations. We do business from a customer point of view and even show our customers the commissions we earn on their contracts. Clark has a young and motivated team and combines technology knowledge and insurance know-how with entrepreneurship. Our developed robo-advisor is the first in the industry and makes us and our work most efficient. Clark is easy, transparent and fair.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

Clark developed the first robo-advisor which uses algorithms to analyze their customers’ insurance situation and automatically proposes optimization opportunities. On request, insurance experts are available to assist customers with specific questions.

KEY DIFFERENTIATORS

Clark uses a self-developed robo-advisor for automated analysis of customers contracts and insurance situation. With the assistance of an insurance-cockpit, customers learn about their ‘insurance fitness’, similar to the way fitness apps inform users of their health. Customers can improve their insurance situation with just a few clicks. Clark compares products from more than 160 insurance companies to find the best product for each individual customer.

PRIMARY CUSTOMER TYPE

Consumer

STRATEGIC CLIENTS AND PARTNERSHIP

Over 160 insurance companies : Clark manages insurances from more than 160 insurance companies

Finleap : Investor

HitFox : Investore

AppLift : Business Partner

People

FOUNDERS

Steffen Glomb

Chris Lodde

Marco Adelt

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO: Christopher Oster

CTO, FOUNDER: Steffen Glomb

CMO, FOUNDER: Chris Lodde

COO, FOUNDER: Marco Adelt

TEAM COMMENT:

Clark has a small,efficient team. Each member as unique skills,shares these within the team. Clark works

BOARD MEMBERS AND ADVISORS:

Philip Schmanns

INVESTORS:

Axel Springer

Axel Springer SE

Coparion

FinLeap

FinLeap

GMPVC

HitFox Group

IONIQ

Kulczyk Investments

Portag3 Ventures

ProSiebenSat.1 Accelerator

SevenVentures

TA Ventures

Target Global

Target Global

Tenderloin Ventures

White Star Capital

White Star Capital

Yabeo Management

Momentum

FUNDED

YES

TOTAL FUNDING:

$14.9 M

LISTED

NO

FUNDING SERIES
Seed Jan 2016 --- EUR1.7 M Target Global FinLeap Axel Springer SE Series A Aug 2016 --- EUR13.2 M Comment on Series A One of the largest FinTech Series A fundings in Europe. FinLeap HitFox SevenVentures Axel Springer SE yabeo Capital Kulczyk Investments TA Ventures Tenderloin Ventures GMPVC