Justos
“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.