Quantemplate, a startup providing self-service, cloud-based automated data solutions for insurers and reinsurers, today revealed that it raised over $12 million in a recent funding round led by Route 66 Ventures and Transamerica Ventures, with participation from Anthemis Group, Allianz X, and Insight Catastrophe Group. The raise brings the New York- and London-based company's total raised to over $25 million, which CEO David Lundgren said will fuel R&D and customer acquisition as Quantemplate grows its global sales and marketing teams. Coinciding with the capital infusion, Quantemplate also announced the general availability of its platform. "With this recently secured round of funding, Quantemplate is primed and ready to present our proven technology to the [insurance and reinsurance] industry. We are eager to provide the unique tools and insights customers need to make business processes more efficient, while at the same time appreciating a more comprehensive assessment of risk," said Lundgren.

Artificial intelligence might be coming to asset management faster than you think. Also this week, we discuss marketplace lending, AirBnb as a "credit bureau," an electricity trade via the blockchain and one start-up's approach to selling data to Wall Street. "Eventually the time will come that no human investment manager will be able to beat the computer." These words were uttered last year by David Siegel, co-head of Two Sigma Investments, the 30 billion quant fund that returned 15% in its two flagship vehicles last year. This week, we were reminded of Siegel's prediction upon meeting with a technologist who was still mesmerized by AlphaGo, Google's artificial intelligence Go program that handily defeated Go master, Lee Sedol, last month.