Change Management and Another Round of Financing at Quantemplate
Data and analytics insurance startup Quantemplate announced that David Lundgren has been appointed CEO and Board Director, replacing Adrian Rands, now turned chairman.
Also, the company has raised £2.5 million in new capital to “accelerate its expansion plans” bringing its total funding to date to ~$13.6M. “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.”(This is where The Law of Large Numbers should come to mind.)
“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 integration. The solution integrates alongside clients’ data ecosystems seamlessly, without disrupting workflows.”
Bottom Line: a change in management, and a ~$3.3M round following an ~$8M Series A round back in August 2015 makes me a skeptic. Well, that and listening to this.
