Quantum Computing Inc. (QCI) (NASDAQ:QUBT), a leader in unleashing the power of quantum computing for non-quantum experts, today announced its first customer for QCI Qonsulting. QCI will provide consulting and quantum-driven solutions to employee staffing solutions company Quad M Solutions, Inc. (Quad M) (OTC:MMMM).
Quad M offers staffing services and employee benefits such as self-funded health plans to small, mid-sized employers and PEO's (professional employer organizations). QCI will deliver health insurance underwriting applications to Quad M for optimization of its underwriting services as a subscription with a monthly fee for every employee that avails themselves of Quad M's health solution. Quad M expects to apply these applications to over 100,000 insured lives by the end of 2022.
"We are very pleased to announce Quad M as our initial industry customer for our consulting and quantum solutions, and are excited about partnering with the company in an industry that we believe is perfect for innovation," said Robert Liscouski, CEO of QCI. "This is a landmark opportunity for QCI, which we expect to result in our first customer revenue, a residual monthly revenue stream and a scalable revenue model for QCI's growth once implemented. We believe that Quad M's insurance risk management applications represent a significant and innovative approach in how staffing vendors can apply quantum computing solutions across a variety of domains. With Qonsulting and ready-to-run quantum software, QCI is positioned to accelerate and enhance our clients' exploration of their optimal path to quantum value."
This collaboration will utilize QCI's Qatalyst™ software to provide more accurate and diverse underwriting insights, leveraging quantum-ready classical, early NISQ, and eventually full-scale quantum computers. QCI will work with Quad M's database of 100K employees to provide deeper insights that drive more robust underwriting solutions for Quad M. Once proven, Quad M and QCI will jointly market the product to other self-insured companies as well as medical insurance providers.
"QCI is the only company with software that allows us to set up an underwriting solution in a quantum way," said Joseph Frontiere, CEO of Quad M Solutions, Inc. "It is agnostic to any quantum hardware or classical computer, thereby allowing us to use the present state-of-the-art technology to improve our underwriting process. The present state of quantum and super computers have reached the point where we felt that this will give us a technological competitive advantage in the staffing solutions industry."