Frankfurt GermanyBased Clark 69M is a German-based insurance technology company that helps consumers find and compare the lowest rates for insurance. The company uses AI-based technology and plans to expand internationally.
One Million Customers
Investing in Frankfurt GermanyBased Clark 69M, Chinese tech giant Tencent has led a recent round of funding. This new round of funding will help Clark accelerate its growth internationally and increase its user base in Germany. The funding will be used for product development and expansion. The company plans to reach one million customers by 2023.
Customer-Centric Insurance Advice
The company aims to disrupt the insurance industry and normalize protection as a daily aspect of life. It provides consumers with simple customer-centric insurance advice. It also offers a mobile app for managing insurance contracts. Its latest offering, the Clark Intelligent Insurance Manager, is based on artificial intelligence. The platform is expected to be fully functional by 2023.
The company aims at becoming the number one insurtech firm in the world. It currently has more than four hundred thousand customers in Germany. Clark also plans to expand its operations to other European countries. The company is confident that it will be able to do so.
Focuses on AI-Based Technology
Using artificial intelligence (AI) to improve accuracy and scale is a powerful change catalyst for a variety of businesses. However, it is important to understand the nuances of the technology and the risks and benefits that it carries before deploying AI.
Insurance Risks
AI can be used to solve a wide range of problems, from driving autonomous vehicles to detecting patterns in insurance risks. Despite the potential benefits, implementing AI can be a difficult task.
The technology is computationally intensive. For example, training an AI model requires a large data set. In addition, the algorithms are opaque and hard to explain. The data must be constantly aggregated to maintain the accuracy of the models.
Violate State or Federal Laws
The data feeds AI technologies from sensor networks, such as those used by internet of things (IoT) devices. This data needs to be treated responsibly. In some cases, the data may violate state or federal law. Consequently, countries need to consider how they will treat the flow of data from IoT and sensor networks.
Tech-Driven Platform
Several major investors have backed Clark, including Tencent, Portag3 Ventures, White Star Capital, and FinLeap. Clark plans to expand internationally and aims for a customer base of one million by 2023. Clark has a customer-centric model, offering simple advice on insurance products. It is also a tech-driven platform that helps consumers make smart insurance decisions.
Germany & Austria
Clark plans to expand its customer base in Germany and Austria and enter the Austrian market within two years. Clark’s digital platform gives consumers a clear picture of their current insurance, allowing them to scan the market for better rates and alternatives. It also helps customers to see what’s included in their policy, and suggests a new policy if the one they’re currently using isn’t right for them.
Clark is also working on creating a new insurance experience. It will use its technology to streamline business processes, mediate customers with insurers, and provide better coverage.
European Countries
Clark already has more than four hundred thousand customers in Germany, and plans to enter Austria and other European countries in the coming months. Its management includes Dr. Marco Adelt and Philip Steiner.
Funding For Digital Insurance Company Clark 69M
Founded in Germany, Clark 69m is a digital insurance company. It offers affordable protection products to customers. Clark combines data intelligence with personal contact with insurance advisors. This combination makes insurance easier for customers. It also provides better prices.
Impressive Track Record of Success
Frankfurt GermanyBased Clark 69M has been in the insurance business for several years. It offers services that benefit many businesses. The company has a team with an impressive track record of success. Its technology platform allows customers to see insurance through their mobile device. It also suggests alternative insurance plans when the plan they have expires.
The company offers excellent customer service and has a flat management structure. Its technology platform is also a good way to compare insurance costs. Clark plans to expand to Austria in 2020. It will also look to expand in other European countries.
Frankfurt GermanyBased Clark 69M currently has over four hundred thousand clients in Germany. It intends to grow to one million by 2023. This number will be helped by the new funding it has received. The funds will help Clark expand its product and services and build a larger customer base.
Final Words:
Tencent, one of the largest Chinese internet companies, is a significant financial backer of the company. It has a proven track record of success and a history of tech-first methodology. Its investment will help Clark expand its product and services and help customers choose the right insurance plan.
Clark also plans to expand its service to other European countries and Asian countries. It will also focus on user acquisition efforts in the German market.
