Justos builds an auto-insurance product that measures how people drive using sensors on their mobile phones to more accurately price risk and offer discounts. The company has not formally launched but has released a driving test and quoting app and is collecting driving data from users. Justos says it has 12,000 leads on its waitlist and plans an imminent launch. The startup intends to use artificial intelligence, computer vision and machine learning to accelerate claims processing and image analysis. It has a social-impact component: partnerships with five nonprofits in its first year and a capped-profit approach that donates unused funds to those institutions. The team of 30 plans to grow to 50 employees by year-end and to 200 by the end of 2022, and the company plans to expand operations and launch additional insurance lines. Justos builds an auto-insurance product that measures driving behavior via smartphone sensors to more accurately price risk and offer discounts of up to 30% for safe drivers. The company plans to use AI, computer vision and machine learning to accelerate claims processing and image analysis. Justos will sell directly to consumers and through partners such as banks and brokers, with purchases available via app, website and WhatsApp; it is currently operating a waitlist and plans to begin selling policies later this year. The startup intends to cap profits and donate leftover revenue to nonprofit organizations as a social-good component. Justos is starting as an MGA and will use its new capital to form partnerships with reinsurers and a fronting insurer, build apps, backend systems and internal operations tools, and develop its pricing model. The team of serial entrepreneurs previously worked at companies including ClassPass, Netflix and Airbnb and plans to focus on Brazil before expanding across Latin America, then Iberia and Asia.

Total raised

$39M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2021