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Insurtech rising: Startups taking over successive competitors

Some start-ups in the insurance industry are taking over successive competitors, others are planning further growth through investments by third-party investors. Recently, Clark and Capinside reported appropriate steps.

Digital insurance manager Clark takes over the insurance brokerage business of Schneider-Golling Group, which is bundled in Paetau Sports. With the takeover, fintech wants to position itself as a partner for medium and large insurance brokers. The employees of the new acquisition Paetau Sports in Berlin are to remain employed in the areas of customer service and consulting. In addition to the familiar personal and telephone contact options, customers now also have the opportunity to use all the services offered by Clark’s digital insurance management, it goes on to say.

In the summer of 2018, Insurtech acquired the insurance broker Malburg from Püttlingen. According to the company, this acquisition strategy accelerates and complements organic customer growth through existing marketing channels. Since its foundation, Clark has been able to attract around 150,000 customers in this way. And in the future, the Robo Advisor continues to grow through acquisitions of insurance brokers. There were already discussions with several medium and large brokers.

Capinside is currently providing its automated real-time comparisons of over 40,000 investment products and their ratings to professional investors at no charge. The Hamburg Fintech wants to offer institutional investors decision support. According to the company, this should increase transparency in the investment industry and create trust. With the new capital, Capinside plans to launch a comparison platform in April 2019, which can also be used by non-professional investors. According to the company, more than 7,000 professional users are currently registered on its platform.


Also published on Medium.

Published inStartups

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