Quantemplate is an insurtech firm that specializes in machine learning to help insurers scale their business through data transformation and analytical insights. They announced on December 12 that David Lundgren will be taking the helm of the organisation as its new CEO and Board Director.
The company has also received an injection of GBP 2.5 million in new capital to accelerate expansion. This follows breakthrough revenue growth of 500 percent over the past year, driven by a clientele of leading multinational insurers and reinsurers licensing Quantemplate’s unique technology solutions.
Lundgren brings rich industry experience and considerable operational expertise from firms such as Allianz, CUNA Mutual, General Electric, and AgPro Exchange. He currently serves on the boards of Jewelers Mutual and Bunker.
“Quantemplate’s data transformation and analytics suite, powered by machine learning, gives our clients the tools to expand their business, cut costs and, most importantly, drive forward the digital transformation which is a strategic imperative for most insurers,” explains Lundgren, who also attributes Quantemplate’s unprecedented traction to favourable market conditions. “This year, to add to the continued confidence of the investment community, Quantemplate has also experienced a real shift in market momentum with leaders in the Life and the P&C sectors, as well as major reinsurers, signing multi-year agreements with us.”
New capital injections amounting to GBP 2.5 million from Columbia Lake Partners serves to complement existing funding from specialized InsurTech capitalists Route 66 and Anthemis, and traditional insurance heavyweights TransAmerica Ventures and Allianz. Since its founding five years ago, Quantemplate has received a total investment of over £10 million.
Designed for (re)insurers, Quantemplate reconciles disparate data categories these companies have to process, solving issues of data integrity or compatibility through machine learning — a key functionality that traditional solutions in the market still lack. During the reconciliation processes, Quantemplate’s analytics suite generates actionable business insights revolving around market opportunity, underwriting profitability, claims and fraud, and MGA (managing general agent) integration. The solution integrates alongside clients’ data ecosystems seamlessly, without disrupting workflows.
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