Oscar is an insurance startup that will give you a wearable and reward you for reaching fitness goals

Country: United Statesoscar
Year: 2014

  • Oscar smartly use connected objects and mobile application to make prevention for his members
  • As a start, as Oscar, we could propose to help his clients to have better way of life, and also health, with technological devices
  • After this they could manage the data from the connected objects to design personalized offers

Concept

  • Co-founded by venture capitalist Joshua Kushner, Oscar closed a $30 million funding round early this year, bringing its funding total up to $75 million
  • Oscar will provide its members with “Misfit fitness trackers” and give them discounts on their premiums for healthy behavior patterns recorded on their wrists
  • Using the Misfit device, Oscar members will track their own health and transmit the biometric information to their medical timelines on Oscar’s mobile app
  • The insurer’s site features an online search function that directs patients towards appropriate doctors after they type in their symptoms using natural language. Patients can also screen doctors to make sure they’re in the network prior to booking an appointment. A physician will return patient phone calls within 25 minutes. It also offers free generic drugs and a number of free primary care appointments.
  • The insurer has some top-shelf investors behind it. They include Founders Fund (the venture capital firm cofounded by Peter Thiel), Thrive Capital, Khosla Ventures and General Catalyst Partners.