Akad Seguros

What Akad Seguros does

Akad Seguros is a Brazilian digital insurance company specializing in business-to-business property and casualty (P&C) coverage, including professional liability (E&O), directors and officers (D&O), general liability, cyber, transportation, engineering, equipment, guarantee, and marine personal injury insurance. The company was formed in 2022 through the rebranding of Argo Seguros following its acquisition by a joint venture of Grupo GP (GP Investimentos) and CyberLabs, and operates from its São Paulo headquarters with an S&P brA rating. Akad distributes exclusively through a network of over 18,000 registered insurance brokers across Brazil, supported by digital infrastructure that includes an online quoting and policy issuance portal, APIs for broker system integration, an AI-powered WhatsApp service bot, Akad University training, and the AkadCast content platform.

The company monetizes primarily through insurance premiums collected across its 11 product lines, paying commissions to brokers for new policies and renewals. Approximately 81% of policies are issued automatically through digital systems, with AI/ML applied to underwriting, risk analysis, claims moderation, and broker interaction analytics. Akad serves a diversified mix of individual professionals (doctors, lawyers, accountants, dentists, and 40+ other licensed categories), small/medium/large businesses, corporate executives and directors, and transport/logistics operators — with the company's flagship D&O offering positioned at R$500k–R$25M coverage limits. Akad ranks #1 in Brazil for professional liability (E&O) since 2022, #3 for cargo transportation, and #5 for D&O, and has received SUSEP approval to enter the broader R$60 billion+ personal insurance market, with US$22.5 million in Series A capital raised in April 2024 specifically to fund this expansion and AI capability development.

Notable enterprise partnerships include MDS Group, AON Brasil, Stone (for a custom burnout-coverage product), and Innoa Seguros, while technology and operations partnerships with GaIA (AI), Critério Experts (claims adjusting), and Hubsegs/Hub2You (WhatsApp policy issuance) extend the operating model. The leadership team combines traditional insurance expertise — including CUO Rafael Fragnan with 27+ years in underwriting — with technology executives from Microsoft, Submarino, and CyberLabs, reflecting the joint venture's hybrid DNA. Gross written premiums exceeded US$180 million by end of 2023 across 300,000+ issued policies, with 200,000+ policyholders served in 2024.

Name

Akad Seguros

Legal name

AKAD SEGUROS S.A.

Website

https://akadseguros.com.br

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

Akad Seguros is a Brazilian digital insurer offering business-to-business property and casualty coverage across 11 product lines, distributed exclusively through a network of 18,000+ brokers, and ranked #1 in Brazil for professional liability (E&O) insurance.

Ownership category

akta.pro rank

Product category

Commercial Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Surety Insurance (6351)

akta.pro primary industry

Data, Analytics & AI for Insurance (Risk, Pricing, Personalization) (FSAGAGAE)

akta.pro secondary industries

Professional Liability (E&O) (FSAJAGAC), Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD), Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB), Specialty & Excess/Surplus Lines (E&S) (FSAJAMAH)

Keywords

• Commercial insurance
• Professional liability insurance
• Cyber insurance
• Cargo transportation insurance
• Insurance underwriting platform

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Property & Casualty Insurance Premiums: Akad generates revenue primarily through insurance premium collection across its portfolio of property and casualty insurance products including RC Profissional, RC Executivos, RC Geral, RC Condutor, Cyber, Equipamentos, Empresarial, Engenharia, Transporte, Garantia, and DPEM. Premiums are collected through brokers with commission payouts.
2. Insurance Broker Distribution Commissions: Revenue flows through a network of over 18,000 registered insurance brokers who sell and service Akad policies. The company pays broker commissions on issued policies and renewals.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

Akad Seguros is a Brazilian digital insurer that sells property and casualty (P&C) commercial insurance products — Professional Liability (E&O), D&O, General Liability, Driver Liability, Cyber, Equipment, Business, Engineering, Transportation, Guarantee, and Marine (DPEM) — distributed exclusively through a network of over 18,000 registered insurance brokers. The company issues roughly 81% of policies automatically via an AI/ML-powered underwriting and digital issuance platform, complemented by WhatsApp-based broker service and APIs for broker management systems.

Product overview

Akad Seguros is a Brazilian digital insurer offering a comprehensive portfolio of insurance products. The company provides multiple distinct insurance lines including Professional Liability (E&O), Executive Liability (D&O), General Liability, Driver Liability, Cyber, Equipment, Business, Engineering, Transportation, Guarantee, and Marine (DPEM) insurance. Founded in 2021 as a joint venture between Grupo GP and CyberLabs, the company rebranded from Argo Seguros and operates with an S&P Rating brA classification. Akad differentiates itself through technology-driven processes and digital distribution channels for insurance brokers.

Differentiator

Problem solved

Functional benefit

Products and services

• Responsabilidade Civil Profissional (RC Profissional / E&O) Professional liability (Errors & Omissions) insurance covering professionals such as doctors, lawyers, accountants, dentists, and over 40 other categories against claims arising from errors, omissions, or damages in the exercise of their professional activities.
• Responsabilidade Civil Executivos (D&O / Akad Digital) Directors and Officers liability insurance protecting corporate executives, leaders, and board members against claims and damages arising from corporate management decisions and governance exposure.
• Responsabilidade Civil Geral (RC Geral) General liability insurance for businesses covering damages to third parties and unforeseen events that may impact their operations.
• Responsabilidade Civil Condutor Driver liability insurance protecting motorists against damages to third parties in traffic accidents.
• Cyber Insurance Cyber risk insurance providing protection against cyber threats and attacks, safeguarding data and reputation of businesses and individuals.
• Equipamentos (Equipment Insurance) Equipment insurance protecting machines and equipment against damages, theft, accidents, and unforeseen events.
• Empresarial (Business Insurance)

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered innovative, core, major, significant, technology and operational.

• StoneinnovativeGTM or Marketing Partner · 1 January 2024Akad partnered with fintech Stone to launch an unprecedented insurance product in Brazil with burnout coverage. This was a custom-developed product for Stone's entrepreneur customer base, marking Akad's entry into life/health insurance and demonstrating its ability to develop niche insurance products.
• CyberLabscoreStrategic or Co-development Partner · 1 January 2021CyberLabs, a technology company, partnered with Grupo GP in 2021 to acquire Argo Seguros and jointly build Akad Seguros in 2022. The partnership brought technology expertise (AI, digital platforms) to traditional insurance operations.
• MDS GroupmajorChannel Partner/ Reseller/ DistributorMajor broker partnership where MDS Group distributes Akad insurance products through retail channels. The partnership includes co-development of special projects, technology integration, and joint training initiatives. MDS is a significant insurance broker and risk consultancy in Brazil.
• AON BrasilmajorChannel Partner/ Reseller/ DistributorAON Brasil, a leading global professional services firm specializing in risk, retirement, and health solutions, partners with Akad to distribute insurance products. AON brings extensive market experience of 20+ years in risk management.
• AridesignificantChannel Partner/ Reseller/ DistributorInsurance broker partner specializing in bicycle insurance. Celebrating 1 year of partnership success focused on technology, innovation, and urban mobility solutions. The partnership has driven significant volume in the bike insurance segment.
• GaIA (Inteligência Artificial)technologyTechnology or IntegrationAkad partnered with GaIA for AI solutions that converse, understand, and convert in marketing and customer experience applications. Featured on AkadCast Episode 36 discussing how AI and bots are revolutionizing marketing and client experience.
• Innoa SegurossignificantChannel Partner/ Reseller/ DistributorInnoa Seguros, a family-run broker that transformed into a market reference through D&O specialization and technological innovation, partners with Akad. Featured in AkadCast Episode 35 discussing the evolution of the broker profession.
• Critério ExpertsoperationalImplementation/ SI/ Consulting PartnerClaims adjusting and technical expertise partnership. Critério Experts provides forensic investigation, loss assessment, and claims quantification services with over 75 professionals including 50 engineers. The partnership supports Akad's commitment to empathetic and technically rigorous claims handling.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Porto Seguro: Porto Seguro is the largest independent P&C insurance carrier in Brazil, offering auto, home, and commercial lines through broker and direct channels. It is the most direct competitor to Akad in the Brazilian P&C market and a benchmark for broker-channel distribution and digital transformation.

Broad incumbents

• Tokio Marine Seguradora: Brazilian subsidiary of Tokio Marine Holdings, offering broad P&C, auto, and specialty lines. As a global incumbent with deep balance sheet, Tokio Marine competes with Akad across D&O, Engineering, and commercial lines through broker distribution.
• HDI Seguros: Brazilian subsidiary of HDI (Talanx Group), operating across P&C, auto, and corporate lines. HDI is a relevant incumbent peer in the same broker-distributed commercial insurance market Akad serves.
• Zurich Seguros Brasil: Brazilian arm of Zurich Insurance Group, offering P&C, commercial, and specialty lines. Competes with Akad in D&O, professional liability, and engineering insurance for corporate and SME clients.
• MAPFRE Seguros Brasil: Brazilian subsidiary of Spanish insurance giant MAPFRE, offering broad P&C and commercial lines. Overlaps with Akad in transportation, engineering, and commercial liability.
• Liberty Seguros Brasil: Brazilian subsidiary of Liberty Mutual, offering P&C, auto, and specialty lines through broker channels. Competes with Akad in commercial lines and broker-distributed specialty coverage.
• Bradesco Seguros: Insurance arm of Bradesco, one of Brazil's largest financial conglomerates, offering P&C, life, and commercial lines. Sets the scale benchmark that constrains Akad's ability to grow share in commercial and specialty segments.
• SulAmérica Seguros: Large Brazilian insurer offering P&C, health, and life products across individual and corporate segments. Competes with Akad in commercial P&C and is a key reference for broker-distributed specialty coverage in Brazil.

Emerging players

• Justos: Brazilian insurtech using telematics and AI to price auto insurance. While primarily focused on personal auto, Justos is a relevant emerging insurtech peer in Brazil and shares Akad's AI-native operating philosophy.
• 180 Seguros: Brazilian digital insurer offering auto insurance with a fully online, direct-to-consumer model. Represents the emerging direct-distribution approach that could pressure Akad's broker-dependent GTM over time.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xfacebook.com/AkadSeguros
• YouTubeyoutube.com/@akadseguros2099
• Facebookfacebook.com/AkadSeguros
• LinkedInlinkedin.com/company/akadseguros
• Instagraminstagram.com/akadseguros

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Akad Seguros