CLARK exits Austria with management buy-out at the end of the year

December 2023

Frankfurt, December 2023: The CLARK Group has decided to discontinue its product and service in Austria at the end of the year. This internal company decision is the result of a strategic focus on profitable growth markets in Europe. As an internationally operating insurtech, CLARK strives to concentrate its efforts on those countries that will ensure the company’s long-term success.

The withdrawal takes place as part of a management buy-out, in which Philip Steiner, the previous Managing Director of Clark Austria GmbH, will take over the management of the more than 30,000 customers in Austria. Philip Steiner and his team will look after all customers at in the future. “With Philip, CLARK has found the perfect buyer and can guarantee customers continuity and a seamless transition. Our Austrian customers can rest assured that they will continue to receive comprehensive support,” explains Christopher Oster, CEO and co-founder.

With 25 years of insurance experience, Philip Steiner is a proven expert and, before joining CLARK, worked as a sales director at N├╝rnberger Versicherung in Austria.

About CLARK 

CLARK is one of the world’s largest insurtechs, with the mission to build the insurance expert in the pocket to protect the world of their customers. The mobile app allows customers to manage, compare, and improve their insurance situation digitally in the most convenient way and provides expert advice at their fingertips. The insurtech is backed by investors including Allianz X, Portage, Tencent, White Star Capital, and Yabeo. The CLARK Group aims to deliver the best possible insurance experience to over 2 million customers in five European countries. From offices in Frankfurt (headquarters), Berlin, Bristol, Amsterdam, Paris, and Zurich, over 800 employees are reinventing insurance day by day.