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A German fintech becomes a bridge between finance and digital technologies

The industry has grown and grown out of its infancy. There are so many companies that shape the industry but not all are equally known. Who are the companies that are the glue between finance and digital technologies? CLARK Germany GmbH is such a company.

CLARK Germany GmbH

CLARK is a digital insurance manager who helps clients to improve their insurance situation. Customers can upload their insurances to their customer profile on the computer or via an app on their smartphone. And also have insurances checked and compared, request new offers and take out insurance. Further more, they also have the opportunity to seek expert advice on their insurance policies. CLARK is one of the nominated companies of the Fintech of the Year 2018.

Facts and figures about CLARK

The Berlin-based company was founded in June 2015 by Dr. Christopher Oster and Steffen Glomb. Their lead investors are Portag3 Ventures and White Star Capital. Distribution channel of CLARK Germany GmbH is B2C. Their target group is private customers. The destination country of the company is Germany. And the status of funding is Series B. About further financing plan is still unclear. The consulting algorithms of CLARK analyze the entire insurance market.

The business model of CLARK

The German insurance market offers great potentia. A 69 million insured, but only a low level of digitization. CLARK pursues a digital business model. CLARK has developed its own Robo technology, which analyzes the insurance situation and proposes optimization possibilities and saving potentials based on the current life situation of the user. CLARK combines a smart Robo-Advisor with human expertise. In addition to the end customer business, CLARK is also aimed at insurers and banks that can tailor the technology as a whitelabel solution.

Milestones: What CLARK has achieved so far

They have grown rapidly in the last three years. That’s hard to pin down on a single milestone. In 2018 alone, they were able to celebrate great successes as a team. And they broke through the 100,000 customer mark in Germany more than 150,000 in January 2019. It was the largest series B financing of an insurtech in Europe. A white label version for B2B partners set off and completed our first acquisition of an insurance broker.

What makes CLARK so special?

Insurances are usually complex and opaque, nobody really likes dealing with the subject. Because you quickly lose track of contracts, pays too much or perhaps important aspects have not properly secured. Focusing on our customers and their needs is therefore extremely important to them. They want to improve the insurance situation of their customers. Whether saving, improving the insurance coverage or successfully processing a claim. Also they want to make insurance easy accessible and understandable for everyone.

Also published on Medium.

Published inFintech

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