Oscar Insurance Corp., the rapidly growing upstart health insurer funded by a slew of venture capitalists, including Google, has hired three new executives to its upper ranks.
Brian West, 45, was named Oscar's president and CFO at the start of the year. West most recently was the COO and CFO of Nielsen, the global information company known for tracking viewers habits on television and show's ratings.
Oscar appointed Kevin Campbell, who has been with the New York City-based company since March 2015, its COO. Previously, Campbell, 55, worked at consulting firm Accenture as well as a hedge fund.
Joel Klein—a lawyer and former U.S. Justice Department official during President Bill Clinton's tenure—has joined Oscar as the chief policy and strategy officer. Klein, 69, also was the chancellor of New York City's public school system.
Each executive will work closely with Mario Schlosser, Oscar's CEO and one of three co-founders.
Oscar sells health plans on and off the individual exchanges in four states—California, New Jersey, New York and Texas—and has 125,000 members, according a company blog post Thursday.
Thus far, it appears Oscar is attracting the highly sought-after younger, healthier crowd, but it has been losing money as it gains insurance price-setting experience. The CMS said in September that Oscar owed roughly $8.1 million under the Affordable Care Act's risk-adjustment program for the individual market. Risk adjustment requires plans that had healthier, lower-cost members to pay into a pool that is then directed to health plans that had sicker members.
