Schlosser: Healthcare incumbents cannot easily innovate due to legacy COBOL code
Mario Schlosser · 20VC: Raising Over $700m From The World's Best Investors, How To Innovate In Highly Regulated Markets & The 3 Superpowers of Insurance Companies with Mario Schlosser, Founder & CEO @ Oscar · Sep 22, 2017 · at 16:37
Mario Schlosser, co-founder and CEO of Oscar Health, discusses why traditional health insurance companies fail to build competitive digital consumer experiences.
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“If you come into this by having first and foremost in your DNA that you want to serve members and create the best experience for them, get their costs down, you suddenly start developing new technology and products. That the other guys will not get around to developing, and once they get around to developing them, they get to throw out decades of COBOL codes before they will start being able to develop a great mobile app, you know, and that's literally the way it works.”
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