While COVID accelerated interest life insurance products, a large portion of the UK population still does not have coverage or is underinsured. COVID also accelerated our adoption of digital solutions as in-person activity came to a halt. Yet, 80% of life insurance products are sold offline through financial advisors. Anorak is an online life insurance advice platform that’s focused on making life insurance more accessible to consumers in a digital-first era. For years, there have been online solutions that allow you to type in a few inputs and receive quotes from a small portion of available options with very little personalization. Anorak goes beyond that by holistically understanding your financial situation and obligations in order to tailor independent recommendations for policies that will meet your needs. Anorak services interested consumers through its website and is also available through APIs for its partner ecosystem of digital financial service providers, broadening the scope of the market it can serve. London TechWatch caught up with CEO and Cofounder David Vanek to learn more about how the pandemic has presented the momentum for innovation in the life insurance industry, the company’s strategic plans, and latest round of funding from investors that include Outward VC, Triple Point Ventures, Kamet Ventures, Nic Kohler, Paul Evans, Charlie Delingpole, and Will Neale.
Insurtech
Urban Jungle Adds Another $11.4M to Expand its Home Insurance Offering
Millennials are more apprehensive about getting any type of insurance than previous generations. As more and more millennials forgo homeownership, they are exposing themselves to financial risk when they choose not to secure renters’ insurance for their possessions while renting. Urban Jungle is a digital-first rental insurance platform that offers fast, flexible and affordable insurance options that start at just £5/mo. Targeted towards younger consumers interested in preparing for their financial future, the company was able to double its customer base to 40,000 during the pandemic with plans to expand its offering. AlleyWatch caught up with CEO and Cofounder Jimmy Williams to learn more about Urban’s Jungle experience building traction during the pandemic, strategic growth plans, and latest round of funding from investors that include Mundi Ventures and Eka Ventures.
10 Predictions for the Tech Industry in 2021
Chris Cunningham of C2 Ventures offers some predictions for what 2021 will bring to tech, covering AR, privacy, insurtech, and much, much more…
Concirrus Adds Another $6M to its Series B for its Insurance Intelligence Platform
In the insurance industry, any information that helps assess risk is absolutely critical when it comes to underwriting and specialty marine insurance is no different. Concirrus is the intelligence platform that helps all relevant parties in the insurance industry (asset owners, insurers, brokers, and investors) understand true risk in real-time. CEO and Cofounder Andy Yeoman shares some insights on bringing sophisticated intelligence to the insurtech space, the company’s future plans, and recent round of funding, which brings the total funding raised to £31.1M.
Cuvva Lets Your Secure Short Term Motor Insurance With a Few Click on Your Phone
If you’re filling out an insurance quote, you better have set aside some time because it is a slow-moving process that typically requires at least 15-minutes of nonstop, personal-data entry. But mobile insurance app Cuvva prompts users to input their data only one time when setting up an account, and users can be connected with […]