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AI Insurtech Ominimo Bags Its First Investment At A $220M Valuation
Ominimo, an insurance technology startup using artificial intelligence to better assess risks and provide personalized policies, has secured its first major funding round, with Zurich Insurance Group leading the investment at a $220 million valuation.
The company’s innovative approach involves utilizing data science and machine learning algorithms to crunch vast amounts of information on vehicle characteristics, driver behavior, and environmental factors to calculate premiums. This is in contrast to traditional methods that rely on limited data points or broad generalizations. According to Ominimo’s founder, it’s this commitment to actual performance rather than just AI-based marketing rhetoric that sets the company apart from competitors.
“We’re not just claiming to do data science in terms of risk assessment; we actually are,” Ominimo’s founder said in an interview with TechCrunch. “I think what really matters is actually performance in the market… If you compare our performance to Lemonade’s [a key competitor], you will actually see the difference.”
Ominimo’s track record is impressive, boasting a loss ratio below the industry average and having already secured a 7% market share in Hungary, where it has launched its services. The company’s ability to attract top talent, including eight medalists from prestigious mathematics and physics competitions, has also been key to its success.
The new investment will be used to expand Ominimo’s offerings into new markets and further develop its AI-driven underwriting capabilities.
Source: https://techcrunch.com/2025/04/10/ai-insurtech-ominimo-bags-its-first-investment-at-a-220m-valuation/
