L&H insurance startup Qumata closes $10 million Series A
London-based Qumata , a digital life and health underwriting specialist, has closed a $10 million Series A round of financing led by MMC Ventures, bringing its total funding to $12 million.
The company’s API solution is integrated by insurers across multiple distribution channels, ranging from tied agents to independent intermediaries and online channels. It allows life and health insurance applicants to share their digital health data instead of having to complete time-consuming questionnaires or invasive medical exams.
Also, the news follows a partnership with SCOR .
“This is an exciting time in the evolution of Life & Health insurance underwriting, and we believe there are tangible benefits for customers in this trend of using digital health records to transform the underwriting journey. HealthyHealth has developed a slick end-to-end process that is intuitive and easy, leading to quicker underwriting decisions that is beneficial and important to our clients.” – Gavin Maguire, Head of Innovation at SCOR Global Life UK & Ireland.