Paris-based AI insurtech focused on healthcare Qantev has raised €10 million in a Series A funding round led by Omnes and Raise Ventures, with the existing investor Elaia following on. The funds will be used to press forward with the startup’s global expansion plans and hire additional AI and engineering talent. To date, Qantev has raised €11.7 million.
Insurance. It’s a tricky game. For both sides of the equation. When it comes to health coverage, this is the number one growing business line for insurers globally, however, the challenges to the product are increasing exponentially. Due in part to an increase of utilisation, namely by an ageing population and sedentary lifestyle, and say nothing of skyrocketing costs of medical care.
Still seeking to get in on the goods, insurers are increasingly looking for modern solutions to help them get a handle on claims leakage and ensure the sustainability of their business
Coming to the aid of said insurers, Qantev employs the help of some hefty AI-driven solutions to help them tackle these troubles while still delivering on the quality of care and service promises to their members via improving the quality of their data, streamlining health claims management, optimising healthcare networks, and helping address waste, abuse, or fraud.
“The many hard technical challenges that we face to help insurers bring more value to their members have pushed us to build the most possibly talented team. We could not get by with baseline approaches, and we have a structural need to constantly beat the state of the art within the whole AI and Machine Learning spectrum,” commented Qantev co-founder and CTO Hadrien De March.