Strong growth year for CLARK — Austria expansion and new customer number records in


Strong growth year for CLARK — Austria expansion and new customer number records in 2020

The Frankfurt-based Insurtech CLARK announced new customer numbers at the end of the third quarter of 2020: Over 250,000 customers were already using the digital insurance manager. Since the end of 2016, CLARK has increased its number of customers more than tenfold. The company last expanded to Austria successfully in April 2020 despite the Corona crisis.

Six months after expanding into Austria, the digital insurance manager CLARK also announced its first business figures: managing over four million euros in insurance premium volume for its Austrian customers. Despite the ongoing Corona crisis, the young company was able to record a successful market launch. The prevalence of CLARK users is particularly gratifying: The customer base is spread equally across rural and urban regions of Austria.

Despite the uncertain market situation due to the ongoing corona pandemic, Dr. Philip Steiner, Managing Director of CLARK Austria, looks back on a successful first half of the business year: “Our business model is not dependent on physical customer contact. This allows us maximum flexibility and we can guarantee our customers the same service even in the current situation. And the positive acceptance of CLARK in the Austrian market is already exceeding our expectations. For us, this is a clear sign that Austria is ready for a digital insurance experience. “

Cooperation partners and service innovations strengthen market presence
In June 2020, CLARK was able to win a well-known cooperation partner in Austria with N26, who forwards its customers to the Insurtech insurance wallet. With the launch of the pension cockpit in August, CLARK expanded the range of services for Austrians in terms of old-age provision. Via the pension cockpit, customers can now view their individual pension situation in addition to their insurance policies directly in the CLARK app and digitally improve their retirement provision. “With this service we want to show Austrians how they can plan their old-age provision in a modern and independent way: namely digitally and paperlessly, without having to forego personal advice,” says Steiner. “We will continuously develop our app further in order to be able to address the needs of our Austrian customers in the best possible way.”

The whole of Austria insures itself digitally
“Our customer statistics show that not only the ‘digital natives’ in the big cities manage their insurance with CLARK, but also people in rural areas are interested in our app”, says Steiner. In addition to large cities such as Vienna, Graz and Linz, Clark also has customers in many smaller communities such as Feldkirchen, Maria Enzersdorf and Schwarzach. Even in Rattenberg, which is the smallest municipality in Austria with an area of ​​0.11 km², customers already manage their insurance digitally using the CLARK app.

As a leading digital insurance manager, CLARK offers its customers a fully digital option to manage, compare and improve all their insurance policies in just one app. For a holistic advisory experience, insurance experts are also available for personal and individual information on request. CLARK received a lot of attention right from the start: In August 2016, an international consortium invested 13.2 million euros in the young Frankfurt company. In Series B, Clark received a further 25.6 million euros from investors two years later and thus concluded the largest Series B financing of a start-up in the insurance sector in Europe to date.

With its concept, CLARK has been able to continuously inspire new customers for its app in recent years: In 2019, the Insurtech received the coveted award of “Germany’s fastest growing digital company” from the industry portal Gründerszene. “Looking at the last five years, we see a development in all areas: Over 250,000 users have so far digitized over a million insurance contracts with our app”, says Christopher Oster, CEO and co-founder of CLARK. “In a very short time, we have grown from the ‘New Kid on the Block’ to an important digital player in the insurance industry.”

Clear growth strategy with strong partners
Oster is also satisfied with the development in Austria’s first expansion market: “The acceptance among Austrian customers has so far exceeded our expectations and strengthens our goal of expanding into other countries in the medium term and becoming the European market leader.”

In this way, CLARK is supported by a network of well-known cooperation partners such as Payback, Miles and More or home24, who refer their customers to CLARK as a digital insurance manager. “For us, the full concentration on the B2C business via our app is the right approach, because we are convinced of the functionality of our app and the encouragement of the customers in our project encourages us”, concludes Oster.

Strong growth year for CLARK — Austria expansion and new customer number records in was originally published in FrankfurtValley on Medium, where people are continuing the conversation by highlighting and responding to this story.

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