Oscar Health, the New York-based startup health insurance provider with more than $1 billion in funding, has named Sid Sankaran as its new chief financial officer, effective March 1.
Sankaran succeeds CFO Brian West, who left the company in November 2018.
“Sid embodies an unmatched breadth and depth of experience in subjects critical to any company, such as capital and strategy, as well as those particularly important at Oscar, such as actuarial and risk,” Mario Schlosser, CEO and co-founder at Oscar, said in a statement. “Sid will be a valuable addition to Oscar as we work to expand our footprint, grow our membership, and offer consumers accessible, affordable care.”
Sankaran served as executive vice president and CFO at AIG, overseeing a balance sheet of nearly $500 million. He also previously served as AIG’s chief risk officer for five years. He was formerly a partner at Oliver Wyman Financial Services, a finance and risk practice, prior to working at AIG.
Oscar Health has grabbed headlines for its large funding rounds, including from Google parent company Alphabet, which invested $375 million in the company last year. The insurer has a focus on patient-centered care and telemedicine services. Its founders, Mario Schlosser and Joshua Kushner––brother of Trump aide Jared Kushner––were recognized in Time Magazine’s 50 most influential people in healthcare for 2018.
In his new role, Sankaran will oversee accounting, financial planning and analysis, strategic finance, actuarial, pricing and plan design at the company, according to the announcement.