Oscar Partners with AXA
Oscar Health announced it has partnered with the International Employee Benefits Division of AXA, a multinational insurance and asset management company. The two companies will enter into a multi-year quota-share reinsurance transaction, which typically means an insurer cedes a portion of its risks and premiums, up to a set dollar limit, to a reinsurer.
Recall: NYC-based Oscar operates in six states: New York, New Jersey, Texas, California, Ohio and Tennessee, and hopes the new arrangement will accelerate its expansion efforts to “enable long-term, capital-efficient growth.”
“As Oscar prepares for its next phase of growth and pursues its mission to use technology to deliver better care at a lower cost, we will benefit from this strategic partnership with AXA and its global scope, deep reinsurance expertise and a shared vision for the future of healthcare “ – Oscar Chief Strategy and Policy Officer, Joel Klein.
Refresher: last year Oscar partnered with Humana to provide health insurance for small businesses in Tennessee, and with Cleveland Clinic (medical center) to form a JV by the name of Cleveland Clinic | Oscar health.
This is Oscar:
— Christina Lowe (@CLowetweets) January 14, 2018