Omaha National is a technology company.
Omaha National has raised $45.0M across 1 funding round.
Omaha National has raised $45.0M in total across 1 funding round.
Omaha National has raised $45.0M in total across 1 funding round.
Omaha National's investors include Accomplice VC, Barbara Corcoran Venture Partners, LAUNCH.
Omaha National is a tech-enabled insurance provider specializing in workers' compensation coverage and payroll services for small to midsize businesses across the U.S.[1][2][8] It leverages proprietary software like the Oncore platform and in-house claims management tools to deliver superior underwriting, lower claim costs, and better outcomes for injured workers, enabling reduced premiums that help clients invest in growth.[1][2][5] Founded in 2016 and based in Omaha, Nebraska, the company has scaled rapidly, surpassing $150 million in in-force premiums by 2022, employing over 200 people, and securing A- (Excellent) ratings from AM Best while partnering with more than 2,500 agencies.[2][8] In a recent milestone, it raised $45 million in Series B funding led by Accomplice to transition into a direct insurance writer and expand its technology stack.[1]
The company serves hands-on industries like construction and manufacturing, where injury risks are high, solving pain points in traditional workers' comp through tech-driven efficiency, such as advanced analytics for claims and underwriting that achieve loss ratios below industry averages.[1][2] Growth momentum remains strong, marked by milestones like a new headquarters in 2022, executive promotions, and consistent expansion since its first policy in 2017.[2]
Omaha National was founded in 2016 in Omaha, Nebraska, by a team of executives with deep experience building workers' compensation businesses at major carriers, including Berkshire Hathaway.[1][2] This insider expertise allowed them to identify gaps in the market for tech-enhanced services targeting small to midsize firms. The idea emerged from combining proven strategic approaches with proprietary technology to improve care for injured workers and cut unnecessary costs, leading to lower premiums.[1]
Early traction built quickly: the company sold its first policy in October 2017 and scaled to over $150 million in in-force premiums by mid-2022, all while maintaining exceptional loss ratios.[2] Pivotal moments include launching the in-house Oncore software platform, a new claims management app in October 2021, and the $45 million Series B round (with investors like Accomplice, HighSage Ventures, Tull Investments, and founding backer Agman) to fuel its shift to direct writing.[1][2][5] Leadership under President and CEO Reagan Pufall has emphasized a forward-thinking culture, growing the team to over 200 employees.[1][2]
Omaha National rides the insurtech wave, applying AI-driven analytics and proprietary platforms to modernize workers' compensation—a $50B+ U.S. market plagued by high costs, fraud, and inefficiencies.[1][2][5] Timing is ideal amid rising demand for tech in insurance post-pandemic, where digital tools cut claims by 20-30% via predictive underwriting and remote management, aligning with broader trends in vertical SaaS for regulated industries.[1][2] Market forces like labor shortages in hands-on sectors and regulatory pushes for better worker outcomes favor its model, influencing the ecosystem by proving tech can lower premiums (via reduced loss ratios) and scale access for underserved small businesses.[1][2][8]
As a Nebraska-based player, it leverages Midwest stability for reliable operations, competing with legacy carriers while partnering with VCs like Accomplice to accelerate insurtech adoption.[1]
Omaha National is poised to disrupt workers' comp further as a direct writer, using Series B funds to supercharge Oncore expansions and national scaling.[1] Trends like AI for fraud detection, telehealth claims integration, and embedded insurance will shape its path, potentially doubling premiums amid a softening market for tech-savvy carriers.[1][2] Its influence may grow by setting benchmarks for loss ratios and agent partnerships, evolving from program manager to full-stack insurtech leader—empowering the "businesses that build America" with tech that turns risk into growth.[1][2][8]
Omaha National has raised $45.0M across 1 funding round. Most recently, it raised $45.0M Series B in September 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2021 | $45.0M Series B | Accomplice VC, Barbara Corcoran Venture Partners, LAUNCH |