Timeline // March 2011 – December 2013
Type // Startup project; partnership between Jurema and external founder
Leve Seguros is among the first online insurance broker in Brazil. Led by Mauricio Simões, founder and CEO with deep industry experience, he approached Jurema to collaborate on developing the technology and bringing the platform concept to live.
You can see the live website here, but if you'd like to read further in the story, just keep swimming, Dori.
It all started with a cultural problem
Up to the time the startup was launched, in 2011, there were still few car insurance brokers online in Brazil. The Brazilian insurance brokerage market is, until now, primarily offline, which means that when someone wants to buy an insurance the client needs to request for a evaluation directly with a broker - it's mandated by the government that people buy insurance through a broker.
The broker then has to get in touch with insurance companies and obtain quotes, which will then be added in excel spreadsheets. On average, it takes two days for a person to get quotes back.
In a nutshell, for a process that takes a long time, is tedious and very bureaucratic we're able can see that it could be improved substantially with more pricing transparency and scalability. This represents a big opportunity for everyone: the consumers, the brokers, the insurance companies and, not less important, the entrepreneur culture.
To help achieving our goal while playing along with the main insurance players in the market, we developed an MVP solution that would help integrate and create less barriers between the prospect and the car insurance broker while not breaking too many boundaries of the current process. Insurance companies are very reluctant when it comes to an open price comparison, nevertheless, Leve Seguros has relationships with major insurance companies in market, enabling the company to easily get quotes and provide consumers with options.
We helped create a flow where quotes are made online and with fewer forms to few. All additional necessary information are requested afterwords by the customer support team. As a result, Leve is able to give users a quote in less than 30 minutes.
At that time of the MVP, the company offered exclusively auto insurance, which was a big opportunity today since 60% of cars are uninsured in Brazil. Currently, it covers a multiline insurance service.
1. Briefing (startup opportunity)
2. Online research and benchmark
3. UX strategy
4. Brand development
5. Interface design
6. Software development
7. Quality assurance
What I learned