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Quantemplate Technologies Ltd. on Wednesday announced the general availability of its online data platform for insurance brokers and underwriters, together with increased funding.
The Quantemplate platform helps with the automated ingestion, storage and preparation of data sets, according to an email from a spokesman for the London-based company.
Quantemplate is agnostic to source of data, internal or external, according to Scott Quiana, president and head of sales. “We are able take in data like (Risk Management Solutions Inc.) or other external sources used to augment data or tie sources together,” he said in an email.
The company also said in the statement that it has closed on more than $12 million in funding and has “approximately 20 large and midsize customers already licensing the platform.”
The surplus lines insurance sector lags some other areas of the industry in the application of technology, but brokers and insurers are gradually introducing automation into the placement process, insurance and technology experts say.