Anorak and Quirk team up to boost insurance awareness with younger generations

Insurance and personal finance are two things that should go hand in hand, but many younger people often don’t know where to start. 

Digital insurance broker Anorak has teamed up with personal finance management app Quirk to help younger earners better understand the insurance market.

According to research from Anorak, eight out of ten millennials feel like they need life insurance but have no idea how to get it, a problem the two firms are hoping to solve.

“Our partnership with Quirk opens the door to educating more millennial and gen Z customers about the benefits of protection products early on. Following the worst of the pandemic, more millennials are investigating life insurance,” David Vanek, CEO and co-founder of Anorak said.

“By partnering with Quirk - who put the user at the heart of the financial information they collect - we will provide this age group with reliable, unbiased, personalised financial advice, on how to protect their quality of life and that of their dependents.” 

Anorak, which has a history of teaming up with fellow fintechs, such as Starling Bank,TrueLayer and Yolt, will now integrate its insurance advice capabilities in Quirk’s app.

“We’re really excited to work with Anorak on providing free advice and helping our users think about protections that are essential to their financial lives,” Nikos Melachrinos, CEO and co-founder of Quirk added. 

“We’ve worked together to make the approach a lot more accessible and easy to navigate for young people so they are able to get started earlier. We admire Anorak’s expertise in insurance and their commitment to providing a human-centred service.”

First coming onto the scene earlier this year, Quirk believes it can provide young professionals with better-tailored financial advice by using a personality test to determine how best they can use their hard-earned cash.

With the help of psychologists, Quirk uses behavioural research to deliver bespoke financial advice and insights into customers’ spending habits.

Together with Anorak, Quirk will now be able to provide its customers with tailored information about the best insurance protection for them, helping younger people to become more financially literate about all aspects of personal finance.