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Sid Sankaran New CFO at Oscar Health

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InsurTech Oscar Health in February 2019 named Sid Sankaran CFO, reporting to CEO Mario Schlosser. He succeeds Brian West.

Sankaran joins from American International Group (AIG) where he was CFO and earlier, chief risk officer. Prior to AIG, he worked for consulting firm Oliver Wyman as a partner in the Finance and Risk practice in Toronto, Canada; and Mercer Risk, Finance & Insurance Consulting and MMC Enterprise Risk.

He holds a Bachelor of Mathematics degree with a specialization in actuarial science and graduated with distinction from the University of Waterloo in Ontario, Canada.

Oscar prepares to launch new Medicare Advantage plans in 2020 (health plans for seniors), having in August 2018 raised $375 million from Alphabet after to that effect. It had received $165 million in March 2018 from Founders Fund to finance its expansion plans in four to five cities a year. As of now, Oscar offers PPACA (Obamacare) exchange plans in nine U.S. states, up from six in 2018.

Both 2018 investment rounds implied a valuation of about $3 billion. Going forward, Oscar intends to leverage its tech-enabled services, including app-based access to health coaching and telemedicine, to enroll tech-savvy recent retirees belonging to the baby-boom generation.

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