Canada    FinTech Guide    Chapter 13    Chile


13. InsurTech
Chile  Chile

InsurTech services are rather new in Chile and not much discussion on the subject is available in the media.



Legal Affairs


Insurance brokerage is a regulated activity in Chile (as well as the granting of event short-term insurance contracts. Such activities are under strict oversight of the CMF.

Entities wishing to carry out the abovementioned activities shall fulfill certain specific requirements such as minimum capital and liquidity requirements, whereas entities that provide pure technology services or which structure their services in a particular manner may fall outside the scope of regulation. Accordingly, the feasibility and specific requirements of operating such a business in Chile should be analyzed on a case by case basis.



Economic Conditions


Information regarding revenues and customers is not readily available.

However, according to the “FinTech Radar” published by https://www.finnovista.com there are 3 InsurTech companies Chile, 2 of which offer comparisons of prices and conditions offered by different insurance companies and 1 of which that would fall under Internet of Things .



Contributing Authors

Urenda, Rencoret, Orrego y Dörr

Rodrigo De Alencar
Santiago, Chile


Nicholas Mocarquer
Santiago, Chile

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Chapter Index:


1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

Disclaimer:
The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018