Insurance-robo-advisor Clark closed the largest Series B financing of any European InsurTech to date in April, led by FinTech investor Portag3 Ventures and transatlantic fund White Star Capital.
Clark enables end customers to manage their insurance portfolios digitally and transparently via their smartphone or computer. Utilizing its innovative robo-technology, customers receive an assessment of their contracts as well as personalized insurance optimizations. Leading digital banks, like N26 and DKB, have also realized the potential of this insurtech. Over 10 million bank customers in Germany now have access to the digital insurance services of Clark via partnerships. Since its founding in July 2015, Clark has acquired close to 100,000 customers for its digital insurance services - making it one of the largest digital insurance players in Europe. Today the company manages US$310 million in contract volume, which is a ten-fold increase from the contract volume it managed in 2016 when it closed its Series A.