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Fintech Juros Baixos acquires insurance broker Segnos to increase its diversity of financial products in Brazil

February 14, 2023
Por
Revista Apolice
Revista Apolice
Apólice is a magazine directed to all segments of the insurance market
📷
Apólice
With the acquisition, fintech diversifies its offer of financial products that already include four modalities of personal loans, credit cards and debt negotiation
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Juros Baixos bought insurance broker Segnos in January, mostly through a share swap.

Among the information communicated in this operation is the fact that Segnos' CEO, Erasmo Gomes, will remain in this new work cycle as Juros Baixos' Head of Insurance. In return, he has received a five-year vesting agreement to increase his stake in the company as his performance in the fintech's new insurance vertical grows.

Juros Baixos began its trajectory in 2016 as an interest rate comparator of the credit options until then on the market. Over time, it grew and began to offer complete solutions for individuals such as credit cards, debt renegotiation, financial planners and courses on financial education.

"The purchase of Segnos is an important step in our mission to provide an environment that contributes to a Brazil of financially healthy people by 2050, as we now offer a way for Brazilians to protect themselves against unforeseen events and increase our diversity of financial products," says the fintech CEO.

When it received investments in late 2021 via Captable, a platform for investing in startups through equity crowdfunding, the 641 investors and the investment funds Componendo Capital (Netherlands) and Prana Capital and Urca Angels (Brazil), already knew clearly Juros Baixos' intention in entering the insurance niche. Even with the abrupt changes in the market in two years, the indicators of the securitization market continue to play in its favor since then.

According to data from Susep (Superintendence of Private Insurance), the insurance market collected R$321.05bn in the first eleven months of 2022, a growth of 16.6% when compared to the same period of the previous year.

The numbers are impressive at first glance, and there is potential for them to be even higher. To get an idea, when we consider only the vehicle sector, less than 30% of the Brazilian fleet has some insurance protection, according to information from CNseg (National Confederation of General Insurance).

The strategy used by Juros Baixos to enter this market in a sustainable and profitable way in the face of economic oscillations was to seek a partnership with an already established insurance broker. By starting a commercial partnership relationship with Segnos, a digital conveyor belt was developed for the sale of insurance aimed at individuals.

"It was eight months of hard work in which the results were so positive that we have reached this announcement. Our know-how in insurance will contribute greatly to the services provided by Juros Baixos, whose clients will have access to insurance offered by renowned companies in the sector such as: Porto Seguro, Allianz, Liberty, Mapfre, CNP, SOMPO, Tokio Marine, Bradesco Seguros, MAPFRE, Azul Seguros, SulAmérica, SUHAI, Pottencial, Icatú, Korv, Argo Seguros and others", explains Erasmo Gomes, CEO of Segnos and now an executive at Juros Baixos.
Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

Juros Baixos bought insurance broker Segnos in January, mostly through a share swap.

Among the information communicated in this operation is the fact that Segnos' CEO, Erasmo Gomes, will remain in this new work cycle as Juros Baixos' Head of Insurance. In return, he has received a five-year vesting agreement to increase his stake in the company as his performance in the fintech's new insurance vertical grows.

Juros Baixos began its trajectory in 2016 as an interest rate comparator of the credit options until then on the market. Over time, it grew and began to offer complete solutions for individuals such as credit cards, debt renegotiation, financial planners and courses on financial education.

"The purchase of Segnos is an important step in our mission to provide an environment that contributes to a Brazil of financially healthy people by 2050, as we now offer a way for Brazilians to protect themselves against unforeseen events and increase our diversity of financial products," says the fintech CEO.

When it received investments in late 2021 via Captable, a platform for investing in startups through equity crowdfunding, the 641 investors and the investment funds Componendo Capital (Netherlands) and Prana Capital and Urca Angels (Brazil), already knew clearly Juros Baixos' intention in entering the insurance niche. Even with the abrupt changes in the market in two years, the indicators of the securitization market continue to play in its favor since then.

According to data from Susep (Superintendence of Private Insurance), the insurance market collected R$321.05bn in the first eleven months of 2022, a growth of 16.6% when compared to the same period of the previous year.

The numbers are impressive at first glance, and there is potential for them to be even higher. To get an idea, when we consider only the vehicle sector, less than 30% of the Brazilian fleet has some insurance protection, according to information from CNseg (National Confederation of General Insurance).

The strategy used by Juros Baixos to enter this market in a sustainable and profitable way in the face of economic oscillations was to seek a partnership with an already established insurance broker. By starting a commercial partnership relationship with Segnos, a digital conveyor belt was developed for the sale of insurance aimed at individuals.

"It was eight months of hard work in which the results were so positive that we have reached this announcement. Our know-how in insurance will contribute greatly to the services provided by Juros Baixos, whose clients will have access to insurance offered by renowned companies in the sector such as: Porto Seguro, Allianz, Liberty, Mapfre, CNP, SOMPO, Tokio Marine, Bradesco Seguros, MAPFRE, Azul Seguros, SulAmérica, SUHAI, Pottencial, Icatú, Korv, Argo Seguros and others", explains Erasmo Gomes, CEO of Segnos and now an executive at Juros Baixos.
Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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