Omaha National

What Omaha National does

Omaha National is a workers' compensation insurance carrier founded in 2016 in Omaha, Nebraska, operating as a privately held, venture-backed company writing A- (Excellent) AM Best-rated policies for small to mid-size employers in hands-on industries such as construction, manufacturing, skilled trades, package delivery, and landscaping. In April 2024 the company acquired Sutter Insurance Company, renaming it Omaha National Casualty Company, and expanded licensing to 37 states as part of its transition from fronting arrangements to direct writing on its own paper with a stated objective of nationwide coverage.

The company's core technology is Oncore (formerly CompOS), a proprietary enterprise application built in-house that consolidates sales, underwriting, claims adjusting, policy management, premium audit, utilization review, investigations, resolution/recovery, and CRM into a single platform, with AI capabilities embedded into core workflows. The platform has been rolled out module by module — Oncore Claims launched in 2021, Oncore Underwriting implemented in 2024, and Oncore CRM planned for 2025 — replacing the legacy CompOS stack.

Omaha National distributes through an open-brokerage model with no agency appointment required, partnered with more than 2,500 independent agencies nationwide, and added a digital distribution channel via Appulate in early 2026. Revenue is generated primarily through workers' compensation insurance premiums, with in-force premium progressing from $100 million in January 2021 to $150 million by June 2022 and approaching $200 million as of April 2026, supplemented by subscription-based payroll services with a reported retention rate above 95%. The company has raised $105 million in total capital from Agman, Accomplice, HighSage Ventures, Tull Investments, and Cohen & Co.

Name

Omaha National

Legal name

Omaha National Group, Inc.

Website

https://omahanational.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Omaha National is a tech-enabled workers' compensation insurance carrier serving small to mid-size employers in hands-on industries. The company distributes A-rated coverage through 2,500+ independent agencies across 37 states via its proprietary Oncore software platform.

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Insurance Carriers and Related Activities (524), Insurance Agencies and Brokerages (52421), Payroll Services (541214)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Workers’ Compensation for Small Business & Pay-As-You-Go Programs (FSAJAEAG)

akta.pro secondary industry

Workers’ Compensation Insurance for Staffing/PEO & Contingent Workforce (FSAJAEAE)

Keywords

• Workers compensation insurance
• Payroll services
• Insurance underwriting
• Claims management
• Insurance distribution

Headquarters

HQ city

Omaha

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Workers' Compensation Insurance Premiums: Direct writing of workers' compensation insurance policies. Company transitioned from fronting arrangements to direct writing on its own paper after acquiring Sutter Insurance Company and becoming licensed in 37 states.
2. Payroll Services: Payroll service with retention rate of more than 95%. Helps employers manage premium payments and provides additional value-added services to workers' comp customers.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Omaha National underwrites and directly issues workers' compensation insurance policies for small and mid-size employers, distributed on an open-brokerage basis through more than 2,500 independent agencies across 37 states. The company also offers an integrated payroll service (95%+ retention) that supports premium payment plans for workers' compensation policyholders. Operations are powered by the proprietary Oncore software platform, which automates claims, underwriting, policy management, premium audit, utilization review, and recovery functions.

Product overview

Omaha National offers a tech-enabled workers' compensation insurance platform with integrated payroll services. The core offering consists of A-rated workers' compensation coverage distributed through over 2,500 agencies. The company's proprietary Oncore software platform serves as the central technology infrastructure, comprising interconnected modules: Oncore Claims (claims management), Oncore Underwriting (underwriting and policy management), and Oncore CRM (sales and customer management, planned 2025). This integrated suite replaced the earlier CompOS system and enables AI-powered automation across all key insurance operations including premium audit, utilization review, and investigations.

Differentiator

Problem solved

Functional benefit

Brands

• Oncore: Proprietary enterprise software application that performs key functions including claims management, underwriting, policy management, medical management, and sales/CRM. Components include Oncore Claims, Oncore Underwriting, and Oncore CRM.

Products and services

• Workers' Compensation Insurance
• Payroll Services

Quantifiable outcome

• Loss ratio consistently below 60% including allocated loss adjustment expenses every year since inception
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature13 records

Partnerships

15 partnerships are on record, tiered core and supporting.

• AppulatecoreChannel Partner/ Reseller/ Distributor · 2 April 2026Strategic partnership announced February 2026 to enhance workers' compensation distribution across the U.S. Appulate is the #1 digital distributor of P&C insurance, enhancing submission processing for retail agents, wholesalers, MGAs, and carriers nationwide through automation. Through this partnership, agents can seamlessly access Omaha National's workers' compensation products via Appulate's single-entry platform, eliminating redundant data entry and accelerating the rate, quote, and bind process.
• OdysseyResupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• AllianzsupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• Everest (everspan)supportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• Hannover ResupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• AXAsupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• Berkley ResupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• Lloyd'ssupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• Safety NationalsupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• Arch ResupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• RenaissanceResupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• Guy CarpentersupportingOthersReinsurance broker partner listed on company website as part of reinsurance partner network.
• AxissupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• American SummitsupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.
• Munich ResupportingOthersReinsurance partner listed on company website as part of reinsurance partner network.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Emerging players

• Pie Insurance: Tech-enabled workers' compensation insurer for small businesses, distributing through digital channels and agents. Comparable SMB target market and technology-driven approach, though Pie emphasizes direct/digital while Omaha National emphasizes broker relationships. Both leverage technology to disrupt traditional workers' comp economics.
• Builders Insurance Group: Workers' compensation specialist focused on construction and skilled trades industries. Directly comparable vertical specialization in higher-hazard SMB workers' comp risks. Smaller scale than Omaha National but similar product positioning around construction industry.

Direct peers

• Safety National: Workers' compensation specialist insurer serving large employers and excess workers' comp markets. Also listed as one of Omaha National's reinsurance partners, indicating industry relationship. Comparable specialization in workers' comp and established carrier expertise.
• Employers Holdings: Workers' compensation mono-line insurer (NYSE: EIG) focused on small businesses. Directly comparable to Omaha National in target customer segment, distribution through independent agents, and focus on SMB hands-on industries. Public company benchmark for workers' comp specialty carrier economics.
• Zenith Insurance Company: Workers' compensation specialist insurer serving SMB and mid-market employers, primarily in California and other western states. Directly comparable focus on hands-on industries and agent distribution. Similar underwriting discipline and loss ratio management approach.
• CopperPoint Insurance Companies: Workers' compensation specialist serving SMB and mid-market employers across western and southwestern states. Comparable product focus, agent distribution model, and emphasis on hands-on industries. Similar geographic expansion strategy and loss ratio discipline.
• Accident Fund Holdings: Workers' compensation specialist insurer serving SMB through independent agents across multiple states. Comparable distribution model, target customer base, and product focus. Subsidiary of AF Group, providing scale benchmark for specialty workers' comp carriers.

Broad incumbents

• AmTrust Financial Services: Large specialty P&C insurer with significant workers' comp franchise focused on SMB and middle market. Comparable distribution model through agents/MGAs and similar appetite for higher-hazard workers' comp risks. Much larger scale but operates in same product space.
• The Hartford: Large diversified P&C insurer with significant workers' comp franchise focused on SMB through independent agents. Comparable SMB target market and agent distribution model, though Hartford operates at massive scale across multiple product lines. Industry benchmark for SMB workers' comp economics and agent relationships.
• Berkshire Hathaway Homestate Companies: Workers' compensation specialist within Berkshire Hathaway, serving SMB through independent agents. Key talent lineage connection - Omaha National's leadership team built successful workers' comp businesses at Berkshire Hathaway. Comparable underwriting discipline and SMB focus, though at much larger scale.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/OmahaNational
• LinkedInlinkedin.com/company/the-omaha-national-group
• Xx.com/omahanational

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Omaha National