Seguro Directo

What Seguro Directo does

Seguro Directo is a Portuguese direct-to-consumer insurance brand operated by Ageas Portugal - Companhia de Seguros, S.A. (ASF Registo 1129), a subsidiary of the Belgian Ageas Group. Founded in 1996 as the pioneer of telephone-based car insurance distribution in Portugal, the company has built a 25-year operating history focused exclusively on auto and motorcycle insurance sold without intermediaries through website self-service simulators, iOS/Android mobile applications, and a contact center. Its core product portfolio comprises tiered auto coverage (Terceiros Base, Terceiros com Condutor, Terceiros com Furto ou Roubo, and Danos Próprios, from €10-€20/month) and motorcycle coverage (from €6.50/month), with add-on modules for glass damage, tire and battery protection, helmet and headlight coverage, and a specialized product line for electric and hybrid vehicles.

Underlying the distribution is a digital platform that supports self-service simulation, policy management, and a usage-based product called Seguro ao km — a pay-per-kilometer program that collects driving telemetry via a dedicated mobile app and returns up to 30% of the annual premium to low-mileage drivers. Supplementary digital services include a chatbot for conversational insurance purchase, a Travel Assistance app with real-time tow-truck tracking, a 100% digital discount card with partner offers (including fuel discounts at Repsol), and a recommended repair shop network providing loaner vehicles during covered claims.

The business model is subscription-based recurring premiums across a long-tail B2C customer base of individual vehicle owners in Portugal, with no disclosed revenue, no public listing, and no external venture or private equity investment at the brand level. The company monetizes through annually or semi-annually collected premiums priced on individual risk factors (driver age, experience, vehicle type, accident history, location), supplemented by multi-vehicle discounts (up to 20%), referral vouchers (€20), and partner-driven loyalty benefits. Strategic positioning combines its heritage as Portugal's first direct insurer with progressive digital and ESG initiatives (first green insurance product in Portugal, 2024 Global Alliance recognition for the '9.000 kms Sustentáveis' project), operating within the broader Ageas Group that spans 14 countries and 40,000+ collaborators.

Name

Seguro Directo

Legal name

Ageas Portugal - Companhia de Seguros, S.A.

Website

https://segurodirecto.pt

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

Seguro Directo is a Portuguese direct-to-consumer auto and motorcycle insurance brand, founded in 1996 and operated by Ageas Portugal, selling exclusively through digital self-service channels (website, mobile apps, contact center) to individual vehicle owners in Portugal.

Ownership category

akta.pro rank

Product category

Personal Lines Auto Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro industry

PRIMARYFSAJAAAA

Standard Personal Auto Insurance (Liability, Collision & Comprehensive)

Financial & Insurance/Insurance — Motor, Property & Casualty/Personal Auto Insurance

SECONDARYFSAJAMAA

Personal Auto Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Motor Vehicle Liability Insurance

Keywords

• Auto insurance
• Motorcycle insurance
• Direct insurance
• Usage-based insurance
• Vehicle insurance

Headquarters

HQ city

Lisboa

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Auto Insurance Premiums: Recurring insurance premiums collected annually or semi-annually for automobile coverage. Pricing starts from €10/month based on individual risk profiles.
2. Motorcycle Insurance Premiums: Recurring insurance premiums for motorcycle coverage starting from €6.50/month.
3. Seguro ao km Reimbursements: Usage-based model where customers who drive fewer kilometers receive reimbursement of up to 30% of their premium at end of policy year.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Seguro Directo is a direct-to-consumer insurance brand operating in Portugal, selling automobile and motorcycle insurance policies through digital and phone channels without intermediaries. The company offers tiered coverage options (basic third-party liability through comprehensive own-damage) for both cars and motorcycles, alongside a usage-based 'Seguro ao Km' pay-per-kilometer program that refunds up to 30% of the premium for low-mileage drivers. Specialized coverage is also provided for electric and hybrid vehicles.

Product overview

Seguro Directo is a direct insurance brand under Ageas Portugal offering automobile and motorcycle insurance products through digital and phone channels. The core product portfolio includes tiered auto insurance (Terceiros Base, Terceiros com Condutor, Terceiros com Furto ou Roubo, and Danos Próprios) and motorcycle insurance (Terceiros com Condutor, Terceiros Ampliado, and Danos Próprios), with optional add-on coverages such as glass damage, tire protection, battery replacement, and legal protection. Key supplementary offerings include the pay-per-kilometer 'Seguro ao Km' program (up to 30% reimbursement), a digital discount card with partner benefits, and a network of recommended repair shops. The company also provides specialized coverage for electric and hybrid vehicles. Mobile applications support policy management, kilometer tracking, and travel assistance services.

Differentiator

Problem solved

Functional benefit

Products and services

• Seguro Auto Terceiros Base Basic auto insurance providing mandatory third-party liability coverage, legal protection, and standard travel assistance. Starting from €10/month for individual Portuguese vehicle owners seeking minimum legal compliance.
• Seguro Auto Terceiros com Condutor Auto insurance with mandatory third-party liability coverages plus additional protections for the driver, including extended coverage options. Designed for vehicle owners seeking driver-side protections beyond the legal minimum.
• Seguro Auto Terceiros com Furto ou Roubo Auto insurance covering mandatory liability plus theft and robbery protection for the insured vehicle. Targeted at vehicle owners concerned about theft risk who want coverage beyond the legal minimum.
• Seguro Auto Danos Próprios Comprehensive auto insurance covering damages to the insured vehicle from collision, fire, theft, natural phenomena, vandalism, and terrorism, starting from €20/month. For vehicle owners seeking full-coverage protection.
• Seguro Moto Terceiros com Condutor Motorcycle insurance with essential coverages for the bike and the driver, from €6.50/month. For motorcycle owners seeking minimum legal compliance with basic driver protections.
• Seguro Moto Terceiros Ampliado Motorcycle insurance with comprehensive protection including helmet and headlight coverage. For riders seeking broader protection for motorcycle-specific equipment beyond basic liability.
• Seguro Moto Danos Próprios Full-coverage motorcycle insurance including damages to helmet and headlight, with coverage for collision, fire, theft, and natural phenomena. For motorcycle owners seeking comprehensive protection.
• Seguro ao Km

Quantifiable outcome

• Customer satisfaction rating of 8.18/10 based on 1,789 reviews
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Grupo Ageas PortugalcoreOthersParent company of Seguro Directo since 2016. Ageas Portugal - Companhia de Seguros, S.A. is the operating entity, registered with ASF (Registo ASF 1129). Ageas is a leading international insurer present in 14 countries with 190 years of experience.
• Media Capital (CNN Portugal)coreStrategic or Co-development PartnerPartnership for 'Histórias Seguras' project - an initiative sharing authentic stories of overcoming and inspiration. The project includes film 'Directo à Vida' featuring a car accident case highlighting the essential role of insurance support.
• Grupo V Portugal (Revista Carros & Motores)coreGTM or Marketing PartnerStrategic partnership for road safety initiative 'Vamos Viver na Estrada'. Includes annual road safety conference and sponsorship of 'Seguro Directo Carro do Ano' award in partnership with Expresso and SIC Notícias.
• Prevenção Rodoviária Portuguesa (PRP)minorStrategic or Co-development PartnerRoad safety education partner participating in the 'Tem Bagagem para Responder?' contest and road safety awareness campaigns.
• RepsolminorGTM or Marketing PartnerFuel discount partner offering 6 cents per liter discount at Repsol stations through the Seguro Directo discount card. Provides fuel rewards for policyholders.
• Carglass PortugalminorChannel Partner/ Reseller/ DistributorWindshield repair partner featured in road safety content and contest prizes including free repairs for contest winners.
• Oficinas MyForceminorChannel Partner/ Reseller/ DistributorPartner workshops offering €200 vouchers for top contest winners and recommended repair services for policyholders.
• miio ElectricminorGTM or Marketing PartnerElectric mobility partner participating in road safety contest prizes and initiatives.
• Hertz PortugalminorGTM or Marketing PartnerVehicle rental partner providing contest prizes and mobility solutions for policyholders.
• American TouristminorGTM or Marketing PartnerTourism partner participating in road safety contest prizes including trip to São Francisco for winners.
• WaymominorStrategic or Co-development PartnerAutonomous driving technology partner for the 'Tem Bagagem para Responder?' contest grand prize - winners experienced Waymo autonomous driving in San Francisco/Silicon Valley.
• Opiniões VerificadasminorGTM or Marketing PartnerCustomer review verification partner collecting and displaying verified customer reviews on Google platform. Shows 'Muito Bom' rating.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Tranquilidade: Major Portuguese P&C insurer offering auto and motorcycle products in the same domestic market, competing head-to-head for the same individual vehicle-owner segment as Seguro Directo.
• Fidelidade: Portugal's largest insurance group with a broad P&C portfolio including personal auto. Directly competes with Seguro Directo for the same Portuguese consumer with similar motor insurance offerings plus bundled products.
• MAPFRE Seguros Portugal: Iberian insurance carrier offering personal auto and motorcycle coverage in Portugal, part of the global MAPFRE group — a direct competitor in the same product category and geography.
• Generali Seguros Portugal: Portuguese arm of Generali offering personal auto and other P&C lines, competing for the same Iberian vehicle-owner base with similar tiered motor insurance products.
• Liberty Seguros Portugal: Portuguese P&C insurer with personal auto and motorcycle products, directly competing for the same Portuguese consumer base as Seguro Directo with comparable tiered coverage options.

Regional players

• Direct Line Group: UK pioneer of direct-to-consumer auto insurance with a similar telephone-and-digital-first model. Highly comparable business model and product offering, but operates in a different geography (UK) without direct overlap with Seguro Directo in Portugal.
• Admiral Group: UK-based direct-to-consumer auto insurance specialist with a price-comparison and online-led model analogous to Seguro Directo's, though operating exclusively in the UK and other European markets rather than Portugal.
• GEICO: US pioneer of direct auto insurance with a digital-first, no-broker distribution model that closely mirrors Seguro Directo's positioning. Operates only in the US, so it does not directly compete in the Portuguese market.

Broad incumbents

• Ageas Group: Parent company of Seguro Directo, a Top-20 European insurance group operating in 14 countries with 190 years of heritage. Offers broad multi-line P&C, life, and health products well beyond Seguro Directo's narrow auto/motorcycle focus.
• Zurich Insurance Portugal: Portuguese arm of global insurer Zurich offering personal auto alongside home, life, and commercial lines. Competes for the same Portuguese consumer with broader portfolio capability but a less direct distribution focus than Seguro Directo.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/seguro_directo

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 Seguro Directo