Startup “Insurtechs” in Brazil Bypass Brokers, Lessen Car Insurance Costs

As they do in other industries, startups want to simplify and customize the insurance market by proposing that clients pay only for what they actually use.

RIO DE JANEIRO, BRAZIL - One of the insurtechs - a term that combines the English words "insurance" and "technology" - is Onsurance, which offers prepaid auto insurance.

Just as with a cell phone, the user places credits into their account and costs are deducted as the car is used. When the car is stopped, there is no deduction.

Unlike conventional insurance, variables such as the drivers' sex and age are not taken into account when estimating the amount to be charged.

"It doesn't matter if drivers are young or old or where they live. We install a device in the car . . .

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