Anorak raises £5M Series A for its life insurance advice platform

Anorak Technologies, the U.K. startup building a life insurance advice platform, has raised £5 million in Series A funding. Notably, the round is led by previous backer Kamet Ventures, the tech incubator funded by insurance giant AXA. It brings the total raised by Anorak to £9 million.

In a call, co-founder and CEO David Vanek told me the startup’s mission is to build the world’s “smartest” automated life insurance advice platform. It wants to offer insurance advice at the most appropriate time and place in a person’s life, such as when buying a house or starting a family, and in turn open up life insurance cover to many more people.

As it stands, life insurance, such as accidental death cover, tends to be sold through financial advisors or brokers targeting high net worth individuals. That leaves swathes of people and their dependents without any cover at all.

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