Based in Frankfurt GermanyBased Clark 69m has been in business for a little over a year and plans to expand worldwide. The firm’s primary focus is on artificial intelligence. It has already gained more than 450,000 clients in Germany and is looking to expand its global presence.
Complexities of German Investment Landscape
Despite the recession, the German economy continues to grow healthy. A large part of the growth is attributed to the booming property market. Macquarie has been investing in Germany for more than three decades. We have more than 170 staff in the country, many of whom speak German. We have a team of experts who can help clients navigate the complexities of the German investment landscape. We are also the largest provider of retail mortgages in the country.
Consumer Lending Solutions
We provide a full range of consumer lending solutions, from credit cards to mortgages and savings accounts. Our offices are spread across the country. We have more than 450,000 clients.
Traditional Banking Institutions
In the second quarter of 2018, we saw a record 11.8 billion euros in new loans. Traditional banking institutions provide the majority of these loans. We also witnessed an uptick in mortgages. The number of mortgages we have issued last year has grown by 80%.
AI-Powered Revenue Cycle Management
During the past decade, the industry has been buzzing with the promise of AI-powered revenue cycle management. However, it is unclear exactly how the technology will evolve and how healthcare organizations can use it to improve the quality of their workflows.
Competitive Disadvantage
Although some experts believe that the technology will be able to automate many jobs, experts also warn that many of these roles will require more complex technical skills. The division of work between humans and computers is starting to fall apart, putting companies at a competitive disadvantage.
According to a Black Book survey, 44 per cent of healthcare organizations already employ some form of artificial intelligence. However, the reality is that these technologies have not yet taken off as much as other emerging technologies.
Most Common Uses of AI
The most common uses of AI are cybersecurity, customer relationship management, and internet searches. These applications will help streamline the decision-making process.
However, several hurdles must be overcome before any real advancements occur. For example, companies must first identify the proper use cases and determine how to implement AI. A successful strategy is to learn quickly and experiment with AI.
A Business Hub of the World
Located in the heart of Europe, Frankfurt GermanyBased Clark 69m is a world business hub. A leading financial center, it’s also home to the European Central Bank (ECB) and the Deutsche Bundesbank. A major transport hub, Frankfurt is also one of the most connected cities in the world. It has direct connections to other major European capitals.
The region around Frankfurt is home to some of the largest corporates in the world. It has an array of industry clusters and is an ideal location for all business sectors. The Rhein-Main region offers a key advantage as a FinTech hub.
Approximately 80 FinTechs have already started operations in the Rhine-Main area. The area’s logistics and transport networks, as well as its close proximity to large industrial players, are important advantages for companies.
Startups & Innovation
It’s also an ideal place for startups and innovation. The area has a high concentration of education institutions and universities. Several startups have established close partnerships with universities and offer internships to undergraduates.
During the first three quarters of the year, Clark 69M, a German insurance technology startup, announced its intention to expand globally. The company received a fresh capital infusion from Chinese internet giant Tencent.
Portag3 Ventures & White Star Capital
Tencent led the Series C funding round for Clark, and also participated with Portag3 Ventures and White Star Capital. The funds will be used to invest in customer acquisition strategies and product development, helping Clark accelerate its growth.
The Clark 69M mobile application allows users to manage their insurance contracts and stay up-to-date on current policy information. They can get quotes and request new offers. The platform also provides information on legal protection and tariffs. The app works in both English and German.
Customer-Centric Model
Clark 69M has developed a customer-centric model, combining data intelligence with personal contact from insurance advisors. The company’s product is geared to disrupt the protection industry.
Final Words:
Clark has over 300,000 customers in Germany. The company’s goal is to grow to become the largest insurance broker in Europe. Christopher Oster, chief executive officer of Clark, has stated his desire to double the size of the company in the near future.