Sigo Seguros

The firm operates as a digital-first, non-standard auto insurance provider, distinguishing itself by eliminating biased rating factors that disproportionately affect minority populations. Sigo Seguros does not use credit scores, employment history, or education levels in its underwriting process, which directly addresses a major barrier for its target clientele. This approach has enabled the company to offer more equitable and affordable coverage. The business model is direct-to-consumer, utilizing a mobile-first platform that allows for a fully bilingual experience, from getting a quote to processing claims. This digital approach circumvents the traditional broker-run, brick-and-mortar model, which often involves onerous fees.

Revenue is generated from the underwriting of non-standard auto insurance policies. Initially launched in Texas in August 2021, the company provides coverage for customers with both U.S. and foreign licenses or IDs. The platform's efficiency and focus on a historically overlooked market have resulted in substantial growth, with Gross Written Premiums increasing by over 500% in 2023. The company has achieved significant funding milestones, including a $5.1 million pre-Series A round and a subsequent $10.5 million Series A round, to fuel expansion into new markets with large immigrant communities, such as Florida and California.