Insurtech Quantee gets a €1M grant for further development of its ActuAI platform

Poland-based startup Quantee has got a €1 million grant from the National Centre for Research and Development, Fintek writes.

Quantee is a company that provides data science and actuarial programming solutions in the insurance and reinsurance sectors. It is developing ActuAI software to automate, enhance and accelerate traditional actuarial processes with automated machine learning algorithms, explainable AI and understandable visualizations. 

The ActuAI platform enables insurers and reinsurers to analyse and deploy statistical models for insurance pricing, claim prediction, proxy modelling or lapse analysis, for example.

“Preliminary calculations show that the implementation of ActuAI will allow insurance companies to obtain benefits counted in millions of euros thanks to greater accuracy of models and automation,” Dawid Kopczyk, CEO at Quantee, comments.

Quantee is planning to use the fresh investment for providing research and development works on further improvement of its ActuAI product.