A Guide to Insurance in Chile (2025) - World Insurance Companies

Your Essential Guide to Choosing Protection in Chile

Welcome to your definitive guide to the Chilean insurance market. As one of South America’s most stable economies, Chile has a sophisticated and competitive insurance sector. Whether you are an expatriate needing a health plan, a driver seeking mandatory auto insurance, or a resident planning for the future, this guide will help you understand your options.

The entire industry is supervised by the Comisión para el Mercado Financiero (CMF), the official government regulator that ensures all providers are solvent and operate under strict standards, giving you peace of mind in your choice

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How to Choose an Insurer in Chile

Verify with the CMF: Before signing anything, ensure the insurance company is registered and supervised by the CMF. This is the most critical step to guarantee you are dealing with a legitimate entity.
Understand Your Needs: Define your priorities. Are you looking for a private health plan (ISAPRE), mandatory auto insurance (SOAP), or a life insurance policy? Knowing what you need is key to comparing effectively.
Compare Plans & Read the Fine Print: Get quotes from several companies. Pay close attention to coverage details, deductibles (deducibles), and exclusions, especially for health and property insurance.

Understanding Key Insurance Types in Chile

1. The Chilean Healthcare System: FONASA & ISAPRE

Chile’s healthcare system operates on a dual model:

FONASA (Fondo Nacional de Salud): This is the public health fund, providing coverage for the majority of the population. All workers contribute 7% of their income. Care within the public network is free.
ISAPREs (Instituciones de Salud Previsional): These are private insurance companies offering health plans with access to private clinics and doctors. Members typically contribute more than the mandatory 7% for better coverage, shorter wait times, and greater choice.

2. Auto Insurance & the Mandatory SOAP

SOAP (Seguro Obligatorio de Accidentes Personales): This is mandatory for all motor vehicles. It is a basic personal accident policy that covers medical expenses, disability, or death for the driver, passengers, and any third parties involved in an accident. It does not cover damage to your vehicle or other property.
Voluntary Auto Insurance: To cover theft, vehicle damage, and civil liability, you must purchase a separate, voluntary policy from a general insurer.

3. Life Insurance & Pension Funds (AFPs)

Life Insurance (Seguro de Vida): Provides a financial payout to your beneficiaries. Policies can be simple term plans or whole life policies that include a savings component.
AFPs (Administradoras de Fondos de Pensiones): While primarily for retirement savings, AFPs also manage mandatory disability and survivorship insurance (Seguro de Invalidez y Sobrevivencia – SIS), which acts as a form of life/disability insurance for all affiliated workers.

Directory of Leading Providers in Chile

Find the right insurance coverage for your needs with our comprehensive directory of providers in Chile. We’ve categorized each insurer to simplify your search. Click on a company’s logo to explore their specific products and access their official website directly.

All Insurers

General & life providers
Health Insurance Providers
Global Specialty Risks
Insurance Brokers & Risk Advisors
Other Financial Institutions (Banks)
Retirement Savings

BCI Seguros

A leading insurer in the market, with a very strong presence in auto, home, and commercial property & casualty insurance. Part of the BCI financial group.

Consorcio Nacional de Seguros

One of Chile's largest and most established insurance companies, with a major presence in both life and general insurance lines.

HDI Seguros

A provider of property, casualty, and financial lines insurance.

SURA

A leading insurer offering comprehensive solutions for individuals and families including health life and occupational risk insurance

Chubb

Provides specialized commercial property and casualty insurance, as well as coverage for high-net-worth individuals.

Mapfre

A global insurer providing a wide variety of solutions for auto, health, life, and home.

MetLife

A leading provider of life insurance, specializing in group policies through superannuation funds.

Penta Vida

A local company with a focus on general insurance lines, including auto and property coverage.

Vida Security

A well-regarded local provider offering a range of life, health, and general insurance products, part of Grupo Security.

Allianz

Offers a comprehensive suite of insurance products, including auto, home, life, health, and specialized commercial insurance.

ISAPRE Colmena

ISAPRE Colmena Logo

ISAPRE Banmédica

One of the largest private health insurers (ISAPRE) in Chile, offering a variety of health plans.

ISAPRE Consalud

A leading ISAPRE with a broad base of affiliates and a wide range of health coverage options.

ISAPRE CruzBlanca

A well-known ISAPRE providing a variety of health plans and medical network access.

ISAPRE Vida Tres

Focuses on providing premium health plans with access to a select network of high-quality clinics and providers.

ISAPRE Nueva Masvida

Another key ISAPRE in the Chilean healthcare system

Banco de Chile

Offers a range of insurance products (auto, home, life, fraud) to its banking clients.

Santander Seguros

Provides insurance solutions through its strategic alliance with Zurich (Zurich Santander).

Scotiabank

Offers various insurance policies, including auto, home, and life, integrated with its banking services.

Banco Estado

The state-owned bank, which offers accessible insurance products for its large customer base.

AFP Cuprum

A major AFP in Chile's privatized pension system.

AFP Capital

A leading Pension Fund Administrator (AFP) managing retirement savings, disability, and survivorship insurance for its affiliates. Part of the SURA group.

AFP HABITAT

One of the largest AFPs, with a significant number of members and assets under management.

AFP modelo

AFP modelo logo

AFP PlanVital

A key player in the Chilean pension fund market.

AFP ProVida

A major pension fund administrator, part of the MetLife group.

AXA

A global insurer providing a wide array of solutions including auto, home, life, and health.

Bupa

A leading health and care company providing private health insurance for millions of Australians with extensive network access.

AON

A global leader providing risk management, insurance brokerage, and advisory services.

Solunion

Offers credit insurance and surety bond solutions.

STARR

Offers specialty insurance for aviation, marine, energy, construction, and other commercial liability risks.

Zurich

Leading global reinsurers that provide capacity and innovative risk transfer solutions to other insurance companies.

HSBC

Global bank providing life and investment insurance products closely tied to its wealth services.

Everest

Offers a wide range of specialty insurance, reinsurance, and property/casualty products globally.

Howden

An international insurance broker with a focus on corporate risk, specialty, and reinsurance solutions.

Coface

Specializes in business trade credit insurance, protecting companies against non-payment of commercial debts

Marsh

A global leader in insurance broking and risk management, serving businesses of all sizes.

Pacific Prime

An international insurance broker with a global network, offering advice on and access to health and medical insurance plans from a variety of insurers.

Frequently Asked Questions (FAQ)

1. Is car insurance mandatory in Chile? Yes, the basic personal accident insurance known as SOAP is mandatory for all vehicles. However, for coverage against theft or damage to your car or other property, you need a separate voluntary policy.

2. What is the difference between FONASA and an ISAPRE? FONASA is the public health fund that provides universal coverage to most Chileans. An ISAPRE is a private insurance company that offers health plans with greater choice and access to private clinics, which members pay for directly.

3. Who regulates insurance companies in Chile? All insurance companies, ISAPREs, and AFPs are supervised by the Comisión para el Mercado Financiero (CMF), Chile’s official financial regulator.

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