Pipo Saude

Pipo Saúde is a Brazilian health insurance brokerage and benefits management company serving corporate employers. It advises companies on the design and purchase of health and dental benefits, runs competitive bidding among insurers and health plan operators using data analysis and market benchmarks, and then administers those benefits on a centralized software platform where HR teams track indicators, population health mapping and risk monitoring. Its stated aim is to reduce clients' medical loss ratio (sinistralidade) and the annual premium readjustments that follow from it; the company reports loss ratios 9 percentage points lower and readjustments 21% smaller for clients.

Alongside brokerage and administration, Pipo operates an in-house health team ("Pipo Cuida") that provides 24/7 telehealth with physicians and nurses at no additional cost or co-payment to covered employees, mental-health support, urgent-care triage, health guides on benefit usage, and active follow-up programs for chronic or at-risk cases and for pregnant and postpartum members. The company reports more than 180,000 support interactions by its health team since March 2020 and more than 85,000 teleconsultations since October 2020.

Pipo Saúde was founded in 2019 by Manoela Ribas Mitchell (CEO), Vinicius Correa and Thiago Torres. Mitchell and Torres studied economics together at the University of São Paulo and both worked in private equity — Mitchell at Temasek and then Actis with a healthcare focus, Torres at a Brazilian investment firm — while Correa worked at Nubank. The company is based in São Paulo and had roughly 30 employees at the time of its 2020 seed round.

Founding story

The three co-founders — Manoela Ribas Mitchell, Vinicius Correa and Thiago Torres — targeted healthcare because of the scale of the Brazilian market, which Mitchell has described as a roughly $50 billion revenue pool. Mitchell and Torres met as economics students at the University of São Paulo and both went into private equity (Mitchell at Temasek and Actis, covering healthcare); Correa came from an operating role at Nubank, where he was introduced to Mitchell through a mutual acquaintance.

Business model

Pipo Saúde acts as an insurance broker and benefits administrator for employers, earning revenue on commissions from health plan and insurance placements rather than charging employees, whose access to the company's telehealth and care-navigation services is provided without additional cost or co-participation.

Commission-based: the company earns commissions on the health and insurance products it brokers for corporate clients.

Traction

Company-reported figures include 177 client companies, more than 221,000 lives under management, more than R$840 million in benefits contracts, 93% member satisfaction (CSAT) for its care service and an NPS of 84. It reports more than 180,000 health-team interactions since March 2020 and over 85,000 teleconsultations since October 2020. In 2020 the company reported a sevenfold customer increase in six months.

Latest developments

The company publishes a 2026 health and wellbeing benefits survey and continues to market brokerage, benefits administration and 24/7 employee care services, reporting 177 clients and over 221,000 lives under management.