Azos, a Brazilian insurtech, raised a $10M Series A funding round led by Prosus Ventures. Kaszek Ventures, Maya Capital, and Propel also participated in the round.
Azos is a digital insurance platform that uses technology to offer life insurance tailored to client’s individual needs. The platform is on a mission to democratize access to fair insurance to everyone in Brazil.
“The lack of transparency, high premiums, and long wait times with current life insurance products are just a few reasons why many consumers and brokers neglect to purchase or sell life insurance at all. We created Azos to fix these problems,” said Rafael Cló, CEO of Azos.
The platform already has over 500 brokers listed who are interested in becoming distribution partners.
“By leveraging technology and data science to automate our application process, we’re able to offer a novel product, and simplify the process for anyone in Brazil to access life insurance,”Cló added.
Azos will use the new funding to launch new products, build out its technology, and expand brokerage options. The company also plans to help individuals learn more about finance and insurance by providing education around financial protection and planning.
Read more on FinSMES.
