Name

Novaecuador

Legal name

NOVAECUADOR S.A. AGENCIA ASESORA PRODUCTORA DE SEGUROS

Website

https://novaseguroslatam.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

akta.pro secondary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Insurance brokerage services
• Personal insurance
• Commercial insurance
• Multi-carrier broker
• Insurance advisory

Headquarters

HQ city

Quito

HQ country

Ecuador

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: Novaecuador operates as an insurance broker (Agencia Asesora Productora de Seguros) earning commissions from insurance companies (Zurich, Seguros del Pichincha, Panamerican Life, Liberty Seguros, Humana, Confiamed, BMI, AIG) for policies sold and managed. Revenue is generated through commissions on insurance premiums collected from customers.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Novaecuador S.A. is an insurance producing advisory agency (Agencia Asesora Productora de Seguros) that operates as an intermediary broker, distributing personal and business insurance products from eight major carriers (Zurich, Seguros del Pichincha, Panamerican Life, Liberty Seguros, Humana, Confiamed, BMI, AIG) to clients in Ecuador. The company earns commissions on insurance premiums for policies sold and managed, offering both individual lines (health, life, vehicle, home, international medical, travel) and commercial lines (corporate medical assistance, property, surety bonds, corporate life, financial lines, cyber risk).

Product overview

Novaecuador operates as an insurance broker agency (NOVAECUADOR S.A. AGENCIA ASESORA PRODUCTORA DE SEGUROS) offering a comprehensive portfolio of insurance products and risk management services. The company provides two main product lines: Personal Insurance (Salud, Vida, Vehículos, Hogar, Gastos Médicos Internacionales, Viajes) and Business Insurance (Asistencia Médica, Patrimoniales, Fianzas, Vida Empresarial, Líneas Financieras, Riesgos Cibernéticos). The portfolio is complemented by a confidential reporting channel (Canal de Denuncias Tu Voz NOVA) and an expert integral broker service (Bróker Integral Experto) for strategic risk management and advisory. The company operates with backing from major insurers including Zurich, Seguros del Pichincha, Panamerican Life, Liberty Seguros, Humana, Confiamed, BMI, and AIG.

Differentiator

Problem solved

Functional benefit

Brands

• Tu Voz NOVA: Whistleblowing/confidential reporting channel for reporting ethical violations, fraud, and misconduct

Products and services

• Salud (Health Insurance) Personal health insurance providing access to quality medical attention including hospitalization, maternity care, specialist consultations, and laboratory tests, distributed through Novaecuador's broker network for individual customers in Ecuador.
• Vida - Personal (Life Insurance) Personal life insurance providing financial protection for families covering death by any cause, total and permanent disability, and funeral expenses, for individuals and families in Ecuador.
• Vehículos (Vehicle Insurance) Comprehensive vehicle insurance covering accidents, third-party liability, substitute vehicle, towing and mechanical assistance, and medical expenses, for individual vehicle owners in Ecuador.
• Hogar (Home Insurance) Home insurance protecting against fire, theft, electrical damage, broken glass, and third-party liability, for homeowners and residents in Ecuador.
• Gastos Médicos Internacionales (International Medical Insurance) International medical expense insurance providing protection outside the country of residence including medical consultations, treatments, hospitalizations, and repatriation, for individuals traveling or residing abroad.
• Viajes (Travel Insurance) Travel insurance offering financial coverage and assistance for emergencies, illness or accidents, flight delays, and luggage loss during trips, for individual travelers.
• Asistencia Médica (Corporate Medical Assistance) Corporate medical assistance insurance providing employees access to quality medical services, for businesses seeking employee health benefits in Ecuador.
• Patrimoniales (Property Insurance) Property insurance protecting business assets from potential risks including fire, theft, and natural disasters, for companies in Ecuador.
• Fianzas (Surety Bonds) Surety bonds guaranteeing fulfillment of contractual obligations, providing trust and security for parties involved in transactions, for businesses entering into contracts.
• Vida - Empresas (Corporate Life Insurance) Corporate life insurance covering death or disability, providing financial security for employees' families, for businesses offering group life benefits to their workforce.
• Líneas Financieras (Financial Lines Insurance) Financial lines insurance protecting companies and professionals against financial risks such as fraud, errors and omissions, for Ecuadorian businesses and professional service firms.
• Riesgos Cibernéticos (Cyber Risk Insurance) Cyber risk insurance protecting businesses against digital threats including cyberattacks, data loss, and cyber liability, for companies exposed to digital and data security risks.
• Bróker Integral Experto (Comprehensive Broker Advisory) Comprehensive risk management advisory service including strategic consulting, custom health plans, maximum coverage across all insurance lines, and technical protection against cyber risks, for clients seeking integrated multi-line insurance planning.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core, major and supporting.

• ZurichcoreOthersZurich is one of the major insurance carriers backed by Novaecuador. Nova distributes Zurich insurance products as part of their portfolio of insurance solutions for clients in Ecuador.
• Seguros del PichinchacoreOthersSeguros del Pichincha is a key insurance partner backed by Novaecuador. The company shares branding and co-marketing materials, indicating a strong strategic partnership with the Pichincha financial group.
• Panamerican LifemajorOthersPanamerican Life provides life and health insurance products distributed through Novaecuador's broker network in Ecuador.
• Liberty SegurosmajorOthersLiberty Seguros is an insurance carrier whose products are distributed through Novaecuador's network across Ecuador.
• HumanamajorOthersHumana provides health insurance solutions that are distributed through Novaecuador's broker network, particularly for corporate medical assistance products.
• ConfiamedsupportingOthersConfiamed is a medical insurance partner that provides coverage solutions distributed by Novaecuador to its customer base.
• BMIsupportingOthersBMI is an insurance carrier partner providing products distributed through Novaecuador's network.
• AIGmajorOthersAIG provides insurance products including cyber risk coverage that are distributed through Novaecuador's broker network in Ecuador.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Mars: Mars is one of the world's largest insurance brokers and risk advisors, with established operations across LATAM including Ecuador. While operating at vastly greater global scale, Mars competes in the same multi-line insurance brokerage space and offers overlapping products (commercial, cyber, financial lines) to corporate clients, making it a structural comparable for Novaecuador's commercial segment.
• Aon plc: Aon is a global professional services firm offering insurance brokerage, reinsurance brokerage, and risk advisory services with deep LATAM presence. Like Mars, Aon competes for the same large corporate and specialty insurance placements that Novaecuador serves through its enterprise segment, including financial lines, cyber, and surety products.
• Willis Towers Watson: Willis Towers Watson (WTW) is a global insurance and risk advisory broker with significant operations across Latin America. WTW competes for the same multi-line insurance placements and risk advisory mandates that anchor Novaecuador's corporate and specialty book, operating as a broad incumbent with comparable product breadth.
• Arthur J. Gallagher & Co. Arthur J. Gallagher is one of the largest insurance brokerage and risk management firms globally, with growing LATAM operations. The company competes for the same commercial insurance placements and risk advisory engagements that Novaecuador serves, and serves as a broad incumbent comparable for the broker's enterprise segment.

Direct peers

• Lockton Companies: Lockton is the world's largest privately held insurance broker, with a multi-line, multi-carrier distribution model closely aligned to Novaecuador's approach. As a private, partner-led broker with global reach and strong specialty capability, Lockton represents the most structurally comparable business model in the global brokerage landscape.
• Howden Group: Howden is a private, fast-growing global insurance broker that distributes across multiple carriers and lines of business. Its model of multi-carrier distribution, growing specialty capability, and regional expansion closely mirrors Novaecuador's playbook of organic and cross-border growth.
• Hub International: Hub International is a leading North American insurance brokerage that distributes across personal and commercial lines through a hub-and-spoke regional model. While geographically distinct, Hub's model of regional offices, multi-carrier access, and specialty risk advisory is conceptually aligned with Novaecuador's 5-city, multi-channel distribution approach.
• Acrisure: Acrisure is a top global insurance broker operating across commercial and personal lines with a multi-carrier distribution model. The business model of brokering across many carriers and serving both retail and commercial clients mirrors Novaecuador's value proposition.
• Brown & Brown, Inc. Brown & Brown is a diversified insurance broker and risk management firm distributing across personal, commercial, and specialty lines. Its program of acquiring regional brokers while preserving local distribution parallels the kind of multi-office, multi-carrier model that Novaecuador operates across Ecuador.
• Alliant Insurance Services: Alliant is a US-based specialty insurance broker serving commercial clients with a multi-carrier, multi-line distribution model. Its emphasis on specialty and complex risk placements is comparable to Novaecuador's Bróker Integral Experto and specialty line distribution (cyber, financial, surety).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/novaecuador
• LinkedInlinkedin.com/company/novaecuador

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 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 Novaecuador