Allianz X announced today that its portfolio company and leading financial services and insurance leads provider finanzen Group will be integrated into digital insurance broker CLARK. CLARK will thus become one of the world’s biggest insurtechs by revenue. Allianz X will receive cash and, predominantly, equity in CLARK as part of the deal, becoming CLARK’s largest minority investor.
finanzen Group, a wholly owned portfolio company of Allianz X, provides high-value consumer traffic to the insurance and finance sectors. CLARK offers insurance advice by enabling retail customers to collate their insurance policies in a digital wallet, then analyzing and optimizing customers’ insurance coverage by comparing tariffs from different insurance companies. finanzen Group is also a licensed broker in Germany, Netherlands, and the UK. That capability will be integrated into CLARK’s existing offering. Both companies work with hundreds of insurers across several European markets—finanzen Group in several more than CLARK, which will serve as the basis for expansion. The combined entity—now a unicorn—will spread to all those markets, bringing end-to-end digital insurance brokerage and wallet services to customers.