Industry veteran David LUNDGREN to head InsurTech Pioneer Quantemplate

David LUNDGREN has been appointed CEO and Board Director of Quantemplate, an InsurTech firm which uses machine learning to help re/insurers grow their business through data transformation and analytical insights.

The company has also received GBP 2.5 million of new capital to accelerate its expansion plans. This follows breakthrough revenue growth of 500% during the last 12 months, driven by leading multinational insurers and reinsurers licensing Quantemplate's unique technology solution. The latest capital inflow, 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 GBP 10 million since its founding five years ago. The firm's expansion plans focus on the UK, US, and European markets.

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.

"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."

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.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

AIG Life Limited (UK) announces the appointment of a new CEO

AIG Life Limited (UK) announced the appointment of Philip WILLCOCK - the former CEO of AVIVA's Indonesian and Italian ventures - as CEO, subject to regulatory approval, effective March 1, 2019. He will be based in London and will report to Adam WINSLOW, CEO, International, Life & Retirement.

2018-12-13

Five CEE re/insurers have an "A" rating from A.M. Best

Among the re/insurance companies rated by A.M.Best there are 23 entities domiciled in the CEE, SEE and CIS regions. Out of this total, 5 companies have an "a" Issuer Credit Rating (ICR) and an "A" Financial Strength Rating (FSR)

2018-12-06

A.M. Best announces ESMA registration for new Amsterdam office

A.M. Best has announced that it has been registered as a credit rating agency (CRA) by the European Securities and Markets Authority (ESMA) to provide ratings through its new subsidiary, A.M. Best (EU) Rating Services B.V., based in Amsterdam, the Netherlands.

2018-12-06

The CEE real estate market - increasing demand for title insurance

"Fifteen years after its introduction, title insurance continues to play a growing role in the CEE real estate market," Jean-Bernard WURM, Co-Founder & Managing Director of Secure Legal Title, London said talking to Property Forum about the trends in the CEE region's real estate sector.

2018-11-29

ON THE MOVE

AIG Life Limited (UK) announces the appointment of a new CEO

AIG Life Limited (UK) announced the appointment of Philip WILLCOCK - the former CEO of AVIVA's Indonesian and Italian ventures - as CEO, subject to regulatory approval, effective March 1, 2019. He will be based in London and will report to Adam WINSLOW, CEO, International, Life & Retirement.

13.12.2018

Sylva de FLUITER takes over as head of UNIQA Re AG

Sylva de FLUITER will take over as head of UNIQA Re AG in Zurich as of 1 January 2019, the Austrian group announced. Until year end she will work hand in hand with long-time Managing Director Hans Uwe MULLER, who will retire after 14 years at UNIQA Re.

12.12.2018

MERCER to name Bala VISWANATHAN Chief Operating Officer

MERCER, the consulting subsidiary of MMC - Marsh & McLennan Companies, announced that Bala VISWANATHAN, CEO of Jardine Lloyd Thompson Group plc (JLT) UK & Ireland Employee Benefits, will join MERCER as Chief Operating Officer.

12.12.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all