InsurTech pioneer Quantemplate appoints industry veteran as CEO and receives £2.5 million in new capital to accelerate growth

InsurTech pioneer Quantemplate appoints industry veteran as CEO and receives £2.5 million in new capital to accelerate growth

Leader in machine learning data transformation and analytics sees fivefold increase in revenue, with ambitious plans for expansion

Quantemplate, an InsurTech firm which uses machine learning to help re/insurers grow their business through data transformation and analytical insights, today announced that David Lundgren has been appointed CEO and Board Director. The company has also received £2.5 million (GBP) of new capital to accelerate its expansion plans. This follows breakthrough revenue growth of 500 percent during the last 12 months, driven by leading multinational insurers and reinsurers licensing Quantemplate’s unique technology solution.

Lundgren brings deep insurance industry and 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.

David Lundgren, Quantemplate CEO

“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,” said Lundgren. “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.”

The latest £2.5 million of capital, from Columbia Lake Partners, is in addition to fresh financial commitments from Quantemplate’s original investors: specialists in InsurTech venture capital Route 66 Ventures and Anthemis, alongside insurance industry leaders TransAmerica Ventures and Allianz. Quantemplate has received a total investment of over £10 million since its founding five years ago.

Daniel Bull from Columbia Lake Partners, the firm’s newest capital partner, said “Quantemplate has shown impressive traction in acquiring some of the world's leading insurance companies as customers. The team has proven that they truly understand the needs of the insurance vertical, and Columbia Lake Partners is excited to be a part of their continued growth in the UK and Europe.”

Yann Ranchere from Anthemis added "Quantemplate is continuing to establish itself as a key player in the digital transformation of the insurance industry. With David Lundgren bringing his unique insurance experience and new funding from Columbia Lake Partners as well as historical investors, we are excited to see Quantemplate enter a new phase of growth."

Designed for re/insurers, Quantemplate automatically unifies the disparate types of data these companies have to process, solving issues of data integrity or compatibility through machine learning. Traditional technologies and outsourcing have fallen short when faced with these intractable problems. In contrast, Quantemplate provides analytics which can generate unique business insights from this disparate data – 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.

Commenting on Lundgren’s arrival and the new finance, Quantemplate Co-founder and Chairman Adrian Rands said “we built this company from day one with a foundation of deep expertise in the insurance industry and a vision to help clients gain the insights which bring competitive advantage. Now, with this expanded support, we can accelerate Quantemplate’s growth and deliver on that vision.”

The firm’s expansion plans focus on the UK, US, and European markets.

About Quantemplate

Quantemplate provides machine learning data transformation and analytics software to the re/insurance industry. The technology enables business users to take raw data sources, cleanse and harmonise them with tools powered by machine learning, then perform analysis to develop competitive advantage through proprietary insights.

For more information see www.quantemplate.com

Quantemplate, a leader in self-service cloud-based automated data solutions for the (re)insurance industry, today announced that SageSure Insurance Managers, the largest independent residential property managing general underwriter in the United States, has selected the Quantemplate platform for its growing data preparation and organization demands.

SageSure uses the Quantemplate platform to enable the continued growth of the business, following a rapid expansion of products offered, geographies served, partners, and distribution channels.  By utilizing the self-service data preparation and storage across the entire company the platform is helping to democratize data and make it accessible to the entire SageSure team.

Quantemplate has worked with SageSure to customize the platform’s dashboard views and capabilities to address the Company’s specific needs for data storage, reporting and analysis. These customized views and analytics will also support the Company’s continued growth trajectory, allowing SageSure to quickly and flexibly respond to the changing business requirements and the increasing complexity of the data.

“Quantemplate is giving us a way to quickly disseminate data to people across the organization who needed it,” said David Finocchiaro, director of financial analysis at SageSure. “Previously, our reporting team would have to manually gather data and generate individual reports to address department requests, but with Quantemplate, we’re able to quickly give those people access to the data that they need in order to make more informed decisions.”

SageSure develops competitively priced property insurance products for its highly rated carrier partners and distributes these products through a growing network of insurance agents and brokers. It’s vital for those across the company to have access to data that can drive decisions for new products and services.

“We are excited to work with SageSure and continue to build out our platform to meet the needs of the industry and the specific use cases of our customers,” said David Lundgren, CEO of Quantemplate. “SageSure, among others, continues to validate the value of the Quantemplate platform by enabling them to grow the business, empower resources to focus on value creation activities and become operationally efficient.”

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, data into actionable insights that are accessible, in real-time, to the entire organization. Through the platform, (re)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.

About SageSure Insurance Managers

SageSure Insurance Managers is the largest independent residential property managing general underwriter in the United States. SageSure develops competitively priced property insurance products for its highly rated carrier partners and distributes these products through a growing network of insurance agents and brokers. SageSure offers 41 products in 14 states, managing nearly all operations for more than 275,000 customers. For more information, please www.sagesure.com.

Company Contact

Scott Quiana
Quantemplate
scott.quiana@quantemplate.com

Media Contact

Kate Caruso-Sharpe
FischTank Marketing and PR
kate@fischtankpr.com
646-699-1534



Get in touch

How it works

Learn more about Quantemplate

Machine Learning

Harness the power of machine learning to automate data

Get a demo

We'd love to show you more in our 30 minute demo