Poland’s InsurTech startup Quantee raises $700,000 seed round to revolutionize insurance pricing | tech news

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Quantee is a SaaS platform that harnesses the power of AI and startup agility for property and health insurance pricing. The aim is to enable all insurance carriers to develop fully personalized products with their AI-based dynamic insurance pricing engine.

This week, Quantee announced that it has raised a $700,000 seed round led by Nunatak Capital with participation from a FundingBox DeepTech fund to disrupt the insurance pricing space.

Thanks to the Quantee software, insurers can create more accurate and dynamic prices, adapt the offer to the preferences of each customer and fully exploit the potential of data. Insurers using Quantee can dramatically reduce their time-to-market for new rates and increase pricing accuracy. As a result, insurers can offer a better customer experience while maintaining the profitability of their portfolio and staying competitive.

Based in Warsaw, Poland, Quantee was founded in 2018 and offers the first truly AI-based dynamic insurance pricing engine. With Quantee, insurance companies can create, deploy and manage more competitive insurance rates up to 10x faster on a daily basis. Quantee also has an international presence and includes customers from several European countries.

Quantee was founded by two experienced professionals – Dawid Kopczyk and Mateusz Gintrowski. Dawid, CEO of Quantee, is a qualified actuary and has worked for many insurance companies in the UK, France, Germany and Poland for several years, gaining extensive pricing, risk and management experience. Mateusz, on the other hand, has over 13 years of experience and a successful track record of selling enterprise software to the insurance industry, working for leading analytics software providers.

In 2020, they decided to join forces to break the old-fashioned and traditional realm of insurance pricing with the first AI-based dynamic insurance pricing software. They have driven the growth of Quantee from product development through multiple PoCs with insurers to gaining traction with the first paying customers including DKV Seguros (Spain) and InterRisk VIG (Poland).

The funding round will fuel Quantee’s continued growth, expansion into the UK and Spanish markets and further development of the software.

“We decided to invest in Quantee because we see a unique opportunity to create value through data analytics in dynamic pricing models. Already, large amounts of market and customer data enable more flexible and personalized offers, leading to reduced risk and improved efficiency of the margin model. This trend will continue with the ability to collect and process more and more data, to the benefit of insurers and their customers,” comments Piotr Ciżkowicz, Managing Partner of Nunatak Capital and Professor at the Warsaw School of Economics.

“We were fascinated by the unique mix of team skills and the sophistication of the product. As dynamic pricing software enables insurance companies to keep up with rapidly changing market demands, we see a strong opportunity for Quantee to become their engine of choice,” adds Iwona Cymerman, Managing Partner, FundingBox DeepTech Fund.

Nunatak Capital is a fully private venture capital fund focused on investing in companies powered by data science and AI solutions. The fund’s team has over 20 years of business and academic experience in data analysis, machine learning and optimization. Nunatak Capital operates in an Operational VC model, actively supporting its startups with a dedicated data science team (including several PhDs and academics on board) and leveraging its business networks (including private investors from over 120 funds) to help portfolio startups grow to support their customer base.

Every day we experience the power of technology to advance our civilization. That’s why we invest in young companies with well-defined technological advantages and support their extraordinary founders on their way to scale up and conquer the global market.


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