Darwin

Before launching Darwin, Freitas was a partner at M&A advisory firm RGS Partners and M&A director at Grupo BBM Logística. Barros gained experience in the treasury department at Goldman Sachs and was a partner at Stone Co, where he handled treasury, capital markets, and risk management. They assembled a team with experience from companies like TIM, Loggi, and Bradesco Seguros to build the insurtech venture. Darwin's business model is centered on a pay-how-you-drive approach, targeting the large portion of the Brazilian population without car insurance. Revenue is generated through monthly, subscription-style insurance premiums that can be canceled at any time.

The core of Darwin's service is its mobile application, which uses telematics to monitor driving behavior. The app collects data on factors such as speed, acceleration, braking, cornering, and mobile phone usage while driving to generate a "Darwin Score." This score allows for dynamic and individualized pricing, rewarding safe drivers with lower premiums. The entire process, from quotation to claims payment, is handled digitally through the app. The company offers various coverage options, including for third-party damages, theft and robbery, and comprehensive plans, all of which are customizable. Initially operating under a temporary license in a regulatory sandbox provided by SUSEP (Superintendency of Private Insurance), Darwin received permanent authorization to operate as an S3 insurer across Brazil in early 2024.