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QuanTemplate, a pioneering cloud-platform bringing sophisticated analytics to the wholesale insurance industry, has secured seed funding from Anthemis Group and existing investors.
QuanTemplate is a secure cloud platform for bespoke wholesale insurance and reinsurance information to be analysed and communicated between interested parties. The platform reduces time and cost spent on reporting and analytics, while increasing speed and transparency. This allows underwriters and brokers to conduct all operational activities online, from importing rich, internal datasets to building sophisticated models required for analytics.
The global insurance market is worth £2.8 trillion globally, representing around 7% of global GDP. Despite spending an estimated £95 billion on IT services in 2014, the insurance business has yet to fully leverage the power of technology to substantially improve their operating processes, risk modelling and trading capabilities.
According to QuanTemplate co-founder Adrian Rands, “Insurance and re-insurance remains one of the least disrupted verticals within financial services. Our user research has uncovered potential for huge productivity enhancements. Firms are tied down by the constraints of Excel and inflexible databases, resulting in key business decisions being made with limited and outdated information. QuanTemplate changes this. We’ve built next-generation tools to help our clients interpret their data and share their findings real-time: the simplicity of the QuanTemplate workflow helps our clients unlock the power of their data.”
Yann Ranchere, director at Anthemis Group said: “We believe the insurance industry will be fundamentally affected by technology over the next few years and the team at QuanTemplate, with their experience of both front and back office in the insurance industry, is best placed to lead this change in the insurance/reinsurance space.”
QuanTemplate is already working with some of the leading companies in the (re)insurance market and will use the investment to expand its product offering and grow its customer base.
QuanTemplate is revolutionary insurance reporting and analytics software built for the complex, collaborative world of the wholesale reinsurance markets. Importing, analysing, modelling and reporting data is fast, richly featured and intuitive, allowing QuanTemplate users to manage their whole workflow within one app. Through QuanTemplate, underwriters and brokers can conduct all operational activities required to trade in the £2.8 trillion insurance market, while optimising their risk in real‐time.
About Anthemis Group
Anthemis Group is the leading digital financial services investment and advisory firm focused on re-inventing financial services for the 21st century. We are distributed, networked and emergent; an approach we believe is optimally aligned with the economic, cultural and competitive environment of the Information Age. We work with a diverse group of customers and partners – from start-ups and venture capital firms to corporates, financial institutions and private equity firms – catalysing and accelerating positive and disruptive change across the financial industry.
Yann Ranchere serves on the board of QuanTemplate.