Regional startup Ominimo Insurance on the path to unicorn status

Ominimo Insurance from Serbia, the fastest-growing insuretech company in Europe, signed a strategic distribution partnership agreement with Zurich Insurance Group this week. The companies also signed an investment agreement, making Zurich a minority shareholder with a valuation of Ominimo at 200 million euros. With this market value after just one year of operation, Ominimo has made significant progress towards unicorn status, the first from Serbia and the third from the region.

– Achieving a valuation of 200 million euros in just 12 months after launch is an important milestone for us, and we are extremely proud of it. We are particularly pleased that Zurich Insurance Group, with its 150 years of tradition, has become a strategic partner and minority shareholder, which is a strong indicator of trust. The global reputation and financial strength of our Swiss partners provide us with stability and open up opportunities for ambitious growth in an industry that is extremely capital-intensive. This gives us the freedom to focus on what we do best – applying data science, developing top-notch software solutions, and delivering flawless performance, with the aim of transforming the auto insurance market worldwide – emphasized Dušan Komar, founder and CEO of Ominimo Insurance.

This company, specialized in selling auto insurance to individuals, was founded by former McKinsey consultants with over 10 years of experience in the insurance industry. Thanks to an engineering approach to improving risk assessment, Ominimo offers the lowest prices to the safest drivers. By using artificial intelligence to develop advanced models for assessing each driver’s risk, it provides users with better risk selection and significantly lower operational costs. In Hungary, its first market, Ominimo sold over 300,000 policies in just 12 months of operation and captured nearly seven percent of the market share. This growth rate is literally unprecedented in the insurance industry.

Ominimo is preparing for a phase of accelerated expansion into the markets of Poland, Sweden, and the Netherlands this year, with ambitions to expand into another 15 European countries in the next two to three years. Ominimo does not limit its ambitions to Europe alone but aims to become a global leader in the insurance sector.

– Profitable sales growth in the retail segment is a strategic priority for Zurich for the period from 2025 to 2027. Therefore, I am extremely pleased with the partnership with Ominimo Insurance, which will allow us to offer innovative auto insurance solutions and expand our presence in the retail segment in Europe, beyond the markets where Zurich is already present. I am particularly glad that we are further strengthening our collaboration with a minority ownership stake in Ominimo,” concluded Alison Martin, CEO for Europe, the Middle East, and Africa at Zurich Insurance Group.

Ominimo Insurance consists of a growing team of over 60 people from 10 different countries. The company is expanding and continuously creating opportunities for top software engineers, data scientists, and business analysts from the region. Ominimo provides experts from across the region with the opportunity to work on solving key issues in the insurance industry and achieve global relevance without the need to leave their country.