Top 100 Insurtech Firms 2019 - 8: Oscar Health
This article was funded by a third party, but the funder had no editorial control.
Last year’s position: 3
Country: US
Founded: 2012
Website: www.hioscar.com
The story so far: Oscar is a health insurance carrier that employs technology, design, and data to improve and humanise health care. Its customers can actively reduce their insurance premiums through exercise, view past medical history in a secure social media-like feed, and input symptoms to find treatment suggestions at the touch of a button.
A team of more than 700, the venture currently operates in six states and has about 257,000 members. In 2018, Oscar expanded into several new states (Florida, Michigan and Arizona) and filed to offer insurance in nine states and 14 markets in 2019. When factoring in premiums sent to Axa, Oscar took in about $725m in premiums across its states in 2018. In 2020, Oscar will start offering medicare advantage plans to seniors.
Since it was founded in 2013, Oscar has received significant levels of funding, with backing from Chinese insurer Ping An, General Catalyst and Khosla Ventures, among others. The company has a strong founding team, including American businessman and investor Joshua Kushner and ex-Microsoft global business manager Kevin Nazemi.
Funding stage: Corporate round
Total funding: £1.3bn
Insurance sector: Health insurance and employee benefits
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