Insurtech firm Clark and N26 launch digital insurance service
N26 moves into insurance market with Clark
Clark, a German insurance robo-advisor, has inked a deal with mobile bank N26. Clark says its Bancassurance-API will help customers of N26 “to better understand their current tariffs and improve their insurance situation”.
“The co-operation between Clark and N26 features a fully digital dashboard displaying all contract details directly in the bank app. Reporting claims is possible with a few clicks,” Clark explains.
“Soon, the full depth of Clark’s digital insurance service will be unlocked for N26 customers: Clark will assess all tariffs and scan the product portfolio of more than 160 German insurance providers to bring users the best offers.” Customers will be able to take action directly through the N26 mobile app.
Maximilian Tayenthal, founder and CFO of N26, comments that “digitalisation in the insurance market is lagging behind”, with lots of paperwork and offline structures.
Furthermore, “customers frequently shy away from actively managing their insurance due to high complexity, non-transparent cost structures and missing access to fair and competent consulting”, N26 states.
Dr Christopher Oster, CEO of Clark, describes the project with N26 as “a major milestone for bringing transparent and fair insurances to banking clients”.
Clark was founded in 2015. N26 is its third bank partner. It is already working ING-DiBa and PSD Bank Hannover in Germany.
