QANTEV OPTS FOR AI AND DATA TO TRANSFORM THE HEALTH INSURANCE SECTOR
Founded in 2019 by Tarik Dadi, Qantev specializes in data analysis and process automation for health insurers. After an initial funding round with Omnes in 2022, the French fintech continues to grow, with a funding round of €30 million in September 2024.
Q What exactly is Qantev?
Tarik Dadi: It’s an AI SaaS platform that aggregates all the raw data for reimbursement claims and transforms it into usable information to help health insurers. Our solution is particularly disruptive in a sector in which digitalization is still in its infancy, with reimbursement decisions still based on manual processes: an army of doctors and nurses spend their days processing huge volumes of paper documents from hospitals and policyholders. Medical data is complex, which is why the health insurance sector has been slow to adapt to the data and digital transformations, unlike other types of insurance.
Q What are the challenges facing the sector and how are you addressing them?
Tarik Dadi: We are confronted by two major challenges: firstly, health is becoming a global priority with growing demand for health insurance, particularly in emerging countries. At the same time, healthcare costs are skyrocketing and the demand for healthcare services is rising as a result of aging populations and an increase in chronic illnesses. Hampered by its low level of digitalization and the absence of structured data, the current health insurance system struggles to meet this growing demand. With our technology, which uses a collection of AI models and highly specialized algorithms, we provide health insurers with tangible solutions, including automating and accelerating the reimbursement process, reducing errors, and preventing fraud.
“We were impressed by Qantev’s determination to address well-known but unresolved issues in the health insurance sector, their commitment to working with the best, and their successful series B funding round, in a difficult 2024 market.”
Q In your opinion, what are Qantev’s strengths?
Michel de Lempdes: Firstly, the outstanding performance of the team, led by Tarik and his co-founder Hadrien de March. We were impressed by their determination to address well-known but unresolved issues in the health insurance sector, their commitment to working with the best, and their successful series B funding round in a difficult 2024 market. Tarik epitomizes the entrepreneurial spirit that we look for at Omnes. Then there’s the considerable potential of health insurance, a global market that is extensive, wide-ranging, and rapidly expanding, and in which Qantev is positioned as a pioneer of AI solutions that offer significant productivity gains.
85%
increase in efficiency, in comparison to manual processes
10%
reduction in the total costs of payments
Q How would you assess the progress made and the challenges ahead?
Tarik Dadi: We have proven that a Parisian start-up can attract major insurers from all over the world. Today, Qantev is entering an execution phase. After the first few years, during which our business developed very rapidly, we have reached the age of reason: we must deliver on our promises to our clients.
Michel de Lempdes: Qantev’s trajectory is remarkable: the company has successfully expanded internationally and established real credibility with major insurers, even before gaining a foothold in its domestic market. This is all the more impressive, given that the health insurance market outside Europe is deregulated, particularly in Asia and North America. It was therefore vital to develop effective sales teams, something that Qantev achieved with great success.
Tarik Dadi: We are ahead of the game, but the rise of Generative AI and LLM (Large Language Models) is further intensifying competition. We must continue to build on the momentum developed with Omnes and our previous investors to accelerate our growth. This will involve recruiting talent across the entire spectrum of AI and Machine Learning to develop a more powerful and scalable platform and accelerating our expansion in Asia and North America, where the growth potential is huge.
“Our technology is revolutionizing the health insurance market, which has previously been hampered by a lack of digitalization and complex processes. It transforms non-structured data into decision-making tools, enabling health insurers to improve their operational excellence.”
Q How would you describe your working relationship
Michel de Lempdes: At Omnes, we look to work with the very best entrepreneurs, and Tarik is one of them. Our role is not to replace management; instead, we are present at key moments, to support reflection and decision-making. We share our experience, our business instinct, and our insights with Tarik, within a relationship of mutual trust that has developed over time.
Tarik Dadi: Michel is by our side when things get intense… which happens quite a lot. As a first-time entrepreneur, I am constantly learning. I actually describe myself to my team as a “CEO in training”. In challenging times, Michel’s experience and his ability to take a step back are vital attributes.
First published in Scope Spring 2025