Zurich Insurance Group, a global insurance leader based in Switzerland, has deepened its commitment to digital innovation by investing in Ominimo, a fast-growing InsurTech startup focused on AI-powered motor insurance.
This strategic investment and partnership aim to position Zurich as a more competitive player in the digital insurance landscape, particularly in the retail sector, according to Insurance Business Mag.
The collaboration allows Zurich to expand its consumer reach in Europe and tap into emerging tech-driven risk assessment models to future-proof its offerings.
Founded by a team of former consultants and mathematicians, Ominimo has positioned itself as a disruptor in the European car insurance market.
It operates as a managing general agent (MGA), enabling it to sell policies underwritten by Zurich while maintaining control over the customer experience and product innovation.
Ominimo’s core product leverages machine learning to price risk with an unmatched level of granularity. Rather than relying on a limited set of variables, the platform analyses hundreds of factors—from vehicle size to urban infrastructure—to refine risk models in real-time.
This data-driven approach has helped Ominimo rapidly capture 7% of Hungary’s motor insurance market, selling over 300,000 policies in its first year and achieving profitability.
The Zurich-Ominimo partnership goes beyond financial backing. Zurich’s German subsidiary, DA Direkt, has signed a distribution agreement with Ominimo to roll out co-branded motor insurance products across Europe.
The rollout will begin in Poland this spring, with future launches planned in Sweden and the Netherlands, and further ambitions to expand into more than ten European markets.
The financial details of the deal were not disclosed by either party, but sources close to the matter report that Zurich acquired a 5% equity stake in Ominimo for €10m, valuing the startup at €200m.
Zurich’s investment in Ominimo aligns with its wider strategic goals, including increasing its presence in digital retail insurance and achieving a core return on equity above 23% by 2027.
The insurer has also recently supported other digital-first ventures such as UK-based Onsi and Canadian firm BOXX, highlighting a broader shift toward next-generation insurance platforms.
Zurich CEO for Europe, the Middle East and Africa, Alison Martin said, “Growing our retail business profitably is a key ambition in Zurich’s 2025–2027 cycle. That is why I am delighted with DA Direkt’s distribution partnership with Ominimo, which will allow us to offer innovative motor insurance solutions and expand our retail customer base in Europe, beyond the markets in which Zurich is already present.”
Ominimo CEO Dusan Komar, formerly with McKinsey, launched the company to address inefficiencies in traditional insurance models, citing a lack of innovation and a failure to attract top-tier tech talent. “No brilliant software engineer or data scientist dreams of working for an insurance company,” Komar remarked.
He co-founded Ominimo with Dennis Weinbender and Laslo Horvath to change that narrative, offering competitive salaries and intellectual freedom to attract elite talent. The startup’s data science team includes eight medallists from international maths and physics Olympiads, now using their skills to revolutionise risk modelling in insurance.
Komar added, “It’s interesting, for instance, to see that data shows a very strong correlation between the length of the car and the frequency of accidents during parking.”
DA Direkt CEO Peter Stockhorst said, “We see our partnership with Ominimo as an ideal combination for realising this potential with tailored offers for a wider customer base.”
Despite the turbulent climate for InsurTechs—highlighted by firms like WeFox struggling to stay afloat—Ominimo is taking a performance-first approach, focused on actual market results rather than superficial digital design. As Komar noted, “There is a difference between claiming to do data science in terms of risk assessment, and actually doing it.”
Whether Ominimo can maintain this momentum as it scales into diverse European markets remains to be seen. However, with Zurich’s capital, distribution network, and strategic endorsement, it has a strong foundation to challenge incumbents and grow profitably in the years ahead.
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