Novo Seguros
Insurance access without barriers -- technology-driven coverage for underserved Brazilians.
Overview
Novo Seguros is a direct-to-consumer and broker-distributed insurance carrier based in Brazil, authorized by SUSEP under its 2nd-edition Regulatory Sandbox program. The company writes personal auto, residential, life, and deductible insurance lines, with a specific focus on gig-economy workers -- app-based ride-share drivers and taxi operators -- who have historically lacked access to affordable coverage.
The carrier uses a non-traditional underwriting approach that does not factor in address, marital status, age, or consumer credit scores from SPC/SERASA databases. Instead, it relies on technology-driven risk assessment to price policies for segments typically declined or rated up by conventional insurers. Operations include digital self-service tools for policyholders and brokers, a claims management platform (WeCareAuto), and 24/7 roadside assistance with towing response times averaging 20--25 minutes.
Novo Seguros launched commercial operations in March 2024 following SUSEP authorization in October 2023. It expanded its product lineup in January 2025 to include residential, life, and gig-driver-specific coverage. The company opened new headquarters in Vitoria, Espirito Santo in July 2024 and operates in compliance with Brazil's new Insurance Act (Law No. 15,040/2024, effective December 2025).