Candid acquires insurtech Anorak

Candid acquires insurtech Anorak

Announcing the acquisition on LinkedIn this morning (25 January), Candid’s chief executive Matt Edwards said Anorak was the first “first fully automated direct-to-customer (D2C) and business-to-business-to-consumer (B2B2C) digital protection advice platform in the UK market.”

Anorak launched in 2018 and has since developed a range of partnerships throughout the protection industry, as well as those offering support services and financial education resources.

Anorak’s technology will support Candid in accelerating its aim to “protect every family in the UK”, Edwards detailed, and that the firm will “continue to execute on our strategy of bringing change and interruption to the UK and European protection and insurance markets.”

Candid, part of the European insurtech group CLARK Group, operates three targeted protection lead generation sites aimed at mothers (Polly), fathers (Tom) and the Over 50’s (Winston).

Edwards commented: “Anorak has a fascinating proposition that I have been following for some time. The founders have been early movers in the inevitable digitalisation of the protection market and have brought the first fully automated and regulated online advice path to market, an amazing achievement.”

David Vanek, chief executive and cofounder of Anorak, added: “We are thrilled to join Candid, and to contribute to its mission to building the European largest insurance broker.

“Candid’s leadership team has built the fastest growing protection insurance distribution platform in the UK, by a long shot. With Candid‘s support, Anorak will be able to accelerate its growth trajectory, giving everyone easy access to expert financial advice on Income Protection and Life.”

 

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