Sankaran replaces Brian West, who left New York-based Oscar in September 2018 to join Refinitiv, a financial data firm owned by Thomson Reuters and the Blackstone Group.
Sankaran was most recently an executive vice president and CFO at property/casualty insurance giant AIG and before that was the company’s chief risk officer.
“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,” Oscar CEO Mario Schlosser said in a news announcement Wednesday about the appointment. “Sid will be a valuable addition to Oscar as we work to expand our footprint, grow our membership, and offer consumers accessible, affordable care.”
Since the company launched in 2013, Oscar rapidly expanded its footprint in the individual market even as other insurers scaled back their participation. The insurer also sells health insurance to small businesses and aims to launch Medicare Advantage plans in 2020.