LONDON and NEW YORK, Oct. 16, 2019 (GLOBE NEWSWIRE) -- Quantemplate, the leader in self-service, cloud-based automated data solutions for the (re)insurance industry, today announced that it has closed on more than $12 million in a recent funding round led by Route Sixty-Six Ventures and Transamerica Ventures, with participation from Anthemis Group, Allianz X, and Insight Catastrophe Group. The company also announced the general availability of its platform to the data-driven (re)insurance sectors following increased demand for licensing and implementation of the platform from global U.S. and European companies.
With approximately 20 large and mid-size customers already licensing the platform, the capital will support further market growth of the Company within key (re)insurance verticals and accelerated development of the Company’s product offerings.
Quantemplate’s self-service, cloud-based platform provides (re)insurers with intuitive access to the critical data that they need most to empower decision making, enable growth, identify new market opportunities and reduce costs. The platform utilizes machine learning for automated data ingestion, preparation and validation, creating real-time access to democratized data in a way that enhances scalability, productivity, and connectivity.
“With this recently secured round of funding, Quantemplate is primed and ready to present our proven technology to the (re)insurance industry. We are eager to provide the unique tools and insights customers need to make business processes more efficient, while at the same time appreciating a more comprehensive assessment of risk,” said David Lundgren, CEO of Quantemplate. “Through the Quantemplate platform, we are taking what was once a complex process, simplifying and democratizing the data so that customers can adapt to the increasingly data-driven market.”
Built specifically for (re)insurance segments that require high-quality extrapolation of robust datasets, Quantemplate has seen traction globally in the commercial property, program, MGA and specialty casualty (re)insurance markets. The Company’s premise was to implement self service capabilities ensuring ease of use so that all individuals within a company, not just specialists, can understand and gain insights that impact the bottom line.
“The insurtech industry has been of particular interest to us over the last several years, due in large part to the growth and demand for solutions capable of handling data from new risk sources and categories, however, innovation in the industry has focused primarily on consumer acquisition and new insurance products. Quantemplate represents one of the few emerging companies focused on innovating the back-end and provide a technology that is easily deployed and benefits the customer almost immediately,” said Dan Dall’Asta, Partner at Route Sixty-Six Ventures. “The Quantemplate solution is turning the data that (re)insurance companies already have into actionable insights around risk, market views and modeling, making it possible to get through more business, make better pricing decisions and reduce costs using real-time data.”
“One of the costliest and most strategic challenges facing the (re)insurance industry today is bringing the insights from risk and transactional data to the consumers” David Lundgren, CEO of Quantemplate. Siloed data sources bring incomplete partial pictures to the business and create slow, laborious, error-prone and expensive processes that do not scale, hindering insurers’ ability to be grow and be competitive. Quantemplate is designed by (re)insurance industry experts to be able to integrate, automate and analyze the data specifically required for (re)insurance decision-makers.”
The recent funding will be used to expand the Company’s global sales and marketing efforts as it grows the platform’s capabilities and customer base.
To learn more about Quantemplate, please visit our website at www.quantemplate.com
About Quantemplate
Quantemplate is a leading provider of self-service, cloud-based automated data solutions designed specifically for the (re)insurance industry. The Company's data integration and analysis platform uses machine learning to transform complex, big data into actionable insights that are accessible, in real-time, to the entire organization. Through the platform, insurers are able to expand business, reduce costs, preserve data integrity and create competitive customer and segment-centric solutions for the market. Quantemplate serves (re)insurance segments where data integration is critical including commercial property insurance, programs and specialty/casualty reinsurance. For additional information, please visit www.quantemplate.com or follow Quantemplate on Twitter and LinkedIn.
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Scott Quiana
Quantemplate
scott.quiana@quantemplate.com
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