Oscar Insurance’s Phone Number: Mario Schlosser, Kevin Nazemi, and Joshua Kushner formed Oscar Health, Inc., an American health insurance provider with its headquarters located in New York City, in 2012. Through telemedicine, healthcare-focused technology interfaces. And clear claims pricing systems that would make it easier for patients to navigate, the company focuses on the health insurance market.
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Oscar Insurance
| Name | Oscar Insurance |
| Founded In | 2012 |
| Phone Number | 1-855-672-2710 |
| Email Address | login now to view the detail |
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| LinkedIn Profile | login now to view the detail |
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History
In 2012, Josh Kushner, Kevin Nazemi, and Mario Schlosser created Oscar Health. Following issues with Schlosser and Kushner’s previous insurance plans, the three created Oscar. The business was given Kushner’s great-grandfather’s name. By the time Oscar moved to New Jersey in 2015, it had amassed 56,000 members. A year later, the company added users in Texas and California, bringing the total to 145,000.
Oscar and Cigna, a Connecticut-based health services provider, joined up in 2020 to offer Oscar’s insurance policies to smaller companies. The business started preparing to go public in 2021. The same year it obtained $140 million in a Series E fundraising round led by Tiger Global Management.
Profile
Oscar Health Inc. is a technology and medical health insurance firm headquartered in New York, USA. In addition to offering healthcare plans, the company has created a smartphone application that makes it simple for patients to look for physicians and reasonably priced medical services nearby.
A group of classmates from Harvard Business School established Oscar in 2012. Mario Schlosser and Joshua Kushner, two of the company’s founders, founded the business for personal reasons after witnessing firsthand the effects of insurance companies’ ineffective service. Specifically, Kushner had a comparable experience following an ankle injury, and Schlosser had a horrible experience managing hospital costs during his wife’s pregnancy.
Eventually, as a result of these encounters, Schlosser, Kushner, and Kevin Nazemi founded Oscar Health Insurance. But rather than launching a health insurance business that operated in the same manner as already established insurance companies, the three concentrated on leveraging cutting-edge digital technologies to deliver superior and more practical services. Naturally, the founders initially faced challenges when venturing into a complicated market like insurance. Large, well-known insurance companies like Anthem and UnitedHealth Group were also posing a threat to them.
Founders
Currently serving as CEO of Oscar, Mario Schlosser formerly shared the role with Kevin Nazemi. Although Kushner is still the company’s largest stakeholder, Nazemi and Kushner are no longer involved in day-to-day operations. Kushner is the brother of real estate developer and financier Jared Kushner, and he created the investment firm Thrive Capital. Former US President Donald Trump’s top counsellor was Jared. Nazemi is currently a partner at Lobby 7 and a board member at Premera Blue Cross.
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Revenue
Oscar brought in $1.67 billion in 2020, up from $1.04 billion the previous year. Remarkable sales figures in the last few years have also provided impetus for a successful Oscar Health IPO in 2021.
Competition
Among Oscar’s most prominent rivals are Collective Health, Kaiser Permanente, and Gusto. The UnitedHealth Group (UHG) and Anthem insurance companies, which dominate the American insurance market, are another rival to Oscar Health Care. Established in 2013, Collective Health is a San Francisco-based health insurance provider that also makes use of technology, especially to assist businesses in managing their employees’ health insurance coverage through a single platform. In the United States, the organisation boasts 45 enterprise clients and over 200,000 members.
One of the biggest nonprofit health insurance providers in the US is Kaiser Permanente. With 39 offices and 723 medical offices as partners, it presently boasts 12.4 million members. As the COVID-19 vaccine is now being distributed nationwide, Kaiser Permanente members are entitled to vaccinations as part of their insurance coverage. However, immunisations are administered in batches or phases because of the restricted quantity.
Gusto is a well-liked option for small businesses because it offers health insurance through automation, user-friendliness, and professional support in addition to cloud-based payroll services. More specifically, it creates insurance plans that are appropriate for both employers and employees using payroll data. Since its founding in 2011, more than 100,000 small businesses have embraced Gusto. Regarding UnitedHealth Group and Anthem, the former has 40 million members in the United States alone, while the latter has 141 million members in 33 countries outside of the country. The 62 million people who have signed up for BCBS plans worldwide do not count as Anthem members.
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