The insurance company Clark, which provides a digital insurance manager for users, has received EUR69m in new funding. The investment comes from Tencent and also will go toward expanding the company’s products and increasing its user base. And accelerating its growth. The company was founded in June 2015 and has already signed up over 450,000 customers in Frankfurt. It plans to reach one million users by 2023.
Insurtech Company Clark
The Insurtech company Clark 69m, founded in 2009 in Frankfurt, Germany, has just raised EUR69M in a series C funding round led by Chinese tycoon Tencent. Its business model is built around artificial intelligence, it has an excellent distribution channel. And also it offers excellent customer support. The company employs more than 200 people in three locations, and also it is confident of scaling its business internationally.
The company provides an app-based insurance manager, which has recently raised EUR69 million from the Chinese web giant Tencent. The money will be used to expand the product, accelerate development, and increase its client base. Clark has a client base of more than 450,000 in Germany. And also the company hopes to grow that number to one million by 2023. Its product is based on artificial intelligence and is expected to be fully functional by 2023.
Digital Insurance Platform
German insurtech startup Clark has raised EUR69 million in a Series C funding round led by Tencent. Other investors include Portag3 Ventures, White Star Capital, and also Yabeo. The new funding will be used to expand the company’s product offering and increase user acquisition in Germany. The company’s mission is to provide an easy-to-use digital insurance platform where customers can compare rates and find the best deal.
Clark has acquired a German internet information company and also already has close to one million customers, making it one of the biggest players in this space. The company claims a tenfold increase in its contract volume from 2016.
Its Newest Line of Yachts
The new 69m Series from Frankfurt-based Clark Boats is designed for those with experience in the boating, But are still looking for an affordable, high-quality yacht. With 69 meters in length, Clark yachts are some of the largest yachts in the world. And also they have many safety features. The Clark 69m is a perfect choice for those who need to spend time in the city and also still have access to luxury yachts.
The Clark 69m Series has an excellent distribution channel and a customer-focused business model that centers on artificial intelligence. The company is growing quickly and employs more than 200 people in three locations. It is building a solid customer base and also plans to expand worldwide. The company plans to scale globally as it continues to focus on development. Its technology and gaining the trust of customers. This strategy has worked well for Clark. As it’s simple to implement and also offers a high level of customer service.
Its Customer Base
Founded in 2015, Clark is a digital insurance management company that helps people make better decisions about their insurance policies. The company’s digital platform allows customers to. Check out their current insurance policies and also scan the market for better rates and policies. The company now serves more than 300,000 customers in Germany and also plans to expand its services to Austria in 2020. Founded by Dr. Marco Adelt and Philip Steiner, Clark intends to invest the funds in product development and customer acquisition strategies.
Conclusion:
Tencent, a Chinese web goliath, is driving the company’s Series C subsidizing round. Tencent shares three things with Clark: proven concept, flat pecking order, and also history. Let’s look at these three factors in more detail. If these factors are matched, Clark will be a success in the German insurance market. As the company continues to build its customer base, it will seek to expand globally and also achieve a billion customers.
