Reinsurance News

QOMPLX secures 12 US tech patents in 2019

10th January 2020 - Author: Matt Sheehan

QOMPLX, an intelligent decision platform provider startup formerly known as Fractal, has announced that it was awarded 12 US patents for innovations in 2019.

insurtechThe patents, which span cybersecurity, insurance, finance and data infrastructure, allow QOMPLX a 20-year period of exclusivity to the technologies.

The most recent patent, issued on December 24, 2019, was for QOMPLX’s platform for multi-cloud and cloud-edge computing architectures.

In addition to the 12 awarded in 2019, QOMPLX has dozens more pending patents in the U.S. and other select countries.

“These patents continue to demonstrate the groundbreaking applied research and development initiatives inside QOMPLX as our team transforms enterprise analytics across cybersecurity, insurance and quantitative finance,” said Jason Crabtree, CEO, QOMPLX.

He added: “As practitioners, our software and services offerings continue to leverage these technologies in mission critical use cases and we expect the number of patents covering our unique technology offerings supporting clients to continue to grow in 2020.”

QOMPLX’s analytics infrastructure aims to enable better decision-making at scale by making it easier for organisations to integrate disparate internal and external data sources.

The firm’s patents for cybersecurity cover a range of innovations, including a cybersecurity decision platform, the ability to accurately identify threat actors, and campaigns and advanced cybersecurity threat mitigation for inter-bank transactions.

Additionally, in the area of finance, QOMPLX has patented a system for multi-method information insurance risk and coverage information capture, analysis, transformation, outcome prediction and presentation.

Last month, QOMPLX expanded its strategic relationship with Pro MGA Solutions in the UK, in support of the launch of its new multi-peril parametric insurance product

In a separate announcement, the firm also partnered with international specialty re/insurance group Chaucer on a multi-peril parametric insurance product aimed at small to medium-sized enterprises.

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