Get the latest tech news
AI insurtech Ominimo bags its first investment at a $220M valuation
How do you get talented engineers to work for a startup in a mundane field at a time when more exciting companies are paying well and hiring aggressively?
Dusan Komar — Ominimo’s CEO who co-founded the company with Dennis Weinbender (now chief pricing and data officer) and Laslo Horvath (CTO) — saw the challenges the insurance industry faced first-hand when he worked for McKinsey. Major insurance firms, he said, were stuck because of three main issues: rigid, legacy systems that were challenging, if not impossible, to use to launch new services quickly, and to use with newer innovations like AI-based pricing; slow decision making processes at the corporate level; and talent. Out of that came the inevitable: taking a cue from the worlds of fintech and other insurance startups, Komar and his two co-founders saw an opportunity to develop a product as their own company rather than for a client, using APIs to plug in features and functionality from other providers that it might not built from the ground up itself; and that is how Ominimo was born.
Or read this on TechCrunch
