“Can a telematics-driven insurtech become Brazil's default auto insurance platform by rewarding safe drivers and owning the full stack from distribution to underwriting?”
Founded in 2020 as a Brazil-first insurtech, Justos introduced usage-based (UBI) auto insurance pricing at a time when telematics-based premiums were virtually nonexistent in the Brazilian market. Operating initially as a licensed insurance broker distributing products underwritten by Companhia Excelsior de Seguros, Justos used its regulatory sandbox period to build proprietary risk models and a rewards platform for safe drivers. In 2025, the company graduated from the sandbox and obtained a full S3 insurer license under Justos Seguros S.A., moving from pure distribution to underwriting its own risk — a significant vertical integration. The platform now operates a dual-entity model (distributor + insurer) with a broker-facing portal integrated into major Brazilian insurance multicálculo systems.
Justos's embedded insurance is provided by Companhia Excelsior de Seguros and Justos Seguros S.A. (in-house).
Justos was founded by Dhaval Chadha, Jorge Soto Moreno and Antonio Molins and is founded in 2020, headquartered in Barueri, São Paulo, Brazil.
Justos has raised $61.4M in total (latest round: Growth round, June 2025).
Get a read on where your own stack stands against Justos and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.