Brazilian insurtech 88i has secured definitive authorization from the Superintendence of Private Insurance (Susep) to operate as a fully licensed S4 insurer. This milestone follows the company's successful completion of the regulatory sandbox program, placing it among a select group of six insurtechs to graduate to full operational status. The approval solidifies 88i's position as a key innovator in the digital insurance landscape, specializing in scalable nano-insurance products for the gig economy.
A Digital-First Approach to Insurance
Operating on a 100% digital and highly scalable model, 88i focuses on episodic nano-insurances integrated directly into digital platforms. The company utilizes B2B and B2B2C models to serve high-growth sectors like mobility, delivery, logistics, and e-commerce. This strategy allows 88i to effectively reach the burgeoning gig economy, a market segment often underserved by traditional insurance providers with more rigid product structures.
The company's integrated distribution strategy has proven instrumental in reaching new audiences and promoting financial inclusion. In 2025, 88i provided coverage to 10.5 million individuals, with an impressive 70% of them purchasing insurance for the very first time. By the end of that year, the company had processed over 30 million insurance operations, demonstrating strong customer adoption and frequent product use.
Strategic Partnerships and Market Penetration
A landmark partnership with Uber in 2023 highlights 88i's innovative market approach, offering drivers and passengers insurance for as little as R$0.01 per kilometer. This initiative alone resulted in the coverage of over 250 million trips in 2025, showcasing the model's immense scalability. The collaboration demonstrates the power of embedding affordable, relevant protection directly into the user experience of a major platform.
Beyond ride-sharing, 88i has expanded its market presence through alliances with e-commerce and logistics firms, including Correios and service providers for giants like Magalu and Mercado Libre. The insurtech offers on-demand protection and income-guarantee coverage for gig workers unable to operate due to accidents. These tailored products provide a critical safety net for independent workers, strengthening the ecosystem for its platform partners.
A Trajectory of Rapid and Profitable Growth
Founded in 2018, 88i entered the regulatory sandbox in 2019 and received its initial operating authorization in 2021 alongside a R$5 million seed investment. The company achieved breakeven in August 2023 and reported profitability in 2024, a year marked by extraordinary 440% growth. This rapid financial maturation underscores the viability and efficiency of its technology-driven business model.
According to founder and CEO Rodrigo Ventura, the sandbox was decisive in validating the company's value proposition in an unexplored market. He noted that 88i's proprietary technology and data utilization created an unprecedented affinity insurance market, promoting democratization and inclusion. Ventura emphasized that the flexible, real-time products also deliver significant value to platform partners by reducing customer acquisition costs and increasing user loyalty.
Future Outlook and Industry Expansion
With its full operational license, 88i is poised for a new phase of accelerated growth, planning to expand its product portfolio, open new channels, and develop innovative solutions. The company has set an ambitious goal to double its size by the close of 2025 compared to the previous year's indicators. This new regulatory status unlocks important growth levers, enabling the company to compete on a national scale.
The company is now preparing for a Series A funding round, bolstered by its consistent triple-digit annual growth, recurring profits, and strategic alliances with global reinsurers such as Hannover Re and Scor Re. This next step is intended to fuel further expansion and technological development. The focus remains on leveraging cutting-edge infrastructure and artificial intelligence to enhance its simple, intuitive digital insurance offerings.
The definitive authorization for 88i marks a significant achievement for the company and a validation of Brazil's regulatory sandbox in fostering innovation. By successfully transitioning to a fully licensed insurer, 88i is set to continue its mission of expanding access to protection through technology. The company's journey reflects the broader digital transformation of the insurance sector, positioning it as a key player in shaping a more inclusive and accessible market.