Oscar, the venture-backed insurance company known for its cheeky subway ads, is laying off more than 30 people from its member services team in New York. It is hiring for its customer-service unit in Arizona.
Oscar is transitioning into a new model it called “Oscar Concierge,” which involves assigning each member a four-person team, including a nurse.
In the first half of this year, Bloomberg reported that Oscar lost $83 million across its New York, California, and Texas markets. Oscar, a company that wanted to disrupt health insurance on the individual market, is backed by Founders Fund, Google Capital, Formation 8, and other venture firms. CF