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.
Triple Point Ventures
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