Personal Accident and Health Insurance in Chile, Key Trends and Opportunities to 2021

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Date: 30-Oct-2017
No. of pages: 123
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Synopsis

Timetric's 'Personal Accident and Health Insurance in Chile Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Chilean personal accident and health insurance segment, and a comparison of the Chilean insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Chilean economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Personal Accident and Health Insurance in Chile Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Chilean personal accident and health insurance segment, including:

• An overview of the Chilean personal accident and health insurance segment

• The Chilean personal accident and health insurance segment's growth prospects by category

• A comprehensive overview of the Chilean economy and demographics

• A comparison of the Chilean personal accident and health insurance segment with its regional counterparts

• The various distribution channels in the Chilean personal accident and health insurance segment

• Details of the competitive landscape in the personal accident and health insurance segment in Chile

• Details of regulatory policy applicable to the Chilean insurance industry

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Chile:

• It provides historical values for the Chilean personal accident and health insurance segment for the report's 2012-2016 review period, and projected figures for the 2016-2021 forecast period.

• It offers a detailed analysis of the key categories in the Chilean personal accident and health insurance segment, and market forecasts to 2021.

• It provides a comparison of the Chilean personal accident and health insurance segment with its regional counterparts

• It provides an overview of the various distribution channels for personal accident and health insurance products in Chile.

• It profiles the top personal accident and health insurance companies in Chile, and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Chilean personal accident and health insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Chilean personal accident and health insurance segment.

• Assess the competitive dynamics in the personal accident and health insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Chilean insurance industry, and their impact on companies and the industry's future.

Key Highlights

• In February 2017, the government of Chile government enacted the Law No 21,000, that will replace the existing insurance regulator Superintendencia de Valores y Seguros (SVS) with the Financial Markets Commission (CMF). The transition is expected to be completed by 2017.

• On January 29, 2015, the Superintendencia de Valores y Seguros (SVS) issued a third paper on risk-based capital frameworks.

• Personal accident and health was the smallest segment in the Chilean insurance industry in 2016, accounting for 9.7% of the industry's direct written premium.

Personal Accident and Health Insurance in Chile, Key Trends and Opportunities to 2021

Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Active policies
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Active policies
5.1.3 Claims
5.1.4 Profitability
5.2 Health Insurance
5.2.1 Premium
5.2.2 Active policies
5.2.3 Claims
5.2.4 Profitability
5.3 Travel Insurance
5.3.1 Premium
5.3.2 Active policies
5.3.3 Claims
5.3.4 Profitability
6 Distribution Channel Outlook
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Metlife Chile Seguros De Vida SA - company overview
7.1.2 Consorcio Nacional de Seguros SA - company overview
7.1.3 Bice Vida Compañía de Seguros SA - company overview
7.1.4 Chilena Consolidada Seguros de Vida SA - company overview
7.1.5 Seguros de Vida Sura SA - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Insurance for motor vehicles accidents
8.4.2 Pension insurance
8.4.3 Health insurance
8.4.4 Workmen's compensation insurance
8.4.5 Professional indemnity insurance for brokers and loss adjusters
8.4.6 Liability for ships with respect to oil pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Association of Insurance Supervisors Latin America
8.5.3 Superintendent of Security Markets and Insurance Companies
8.5.4 Insurance Association of Chile
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxations
8.8.2 Withholding taxes on premium paid overseas.
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Personal Accident Insurance
9.5 Health Insurance
9.6 Health Insurance by Category
9.7 Travel Insurance
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer

List of Tables
Table 1: Chilean Personal Accident and Health Insurance - Key Facts, 2016
Table 2: Chilean Personal Accident and Health Insurance - Top Insurers, 2016
Table 3: Chile Government Credit Ratings
Table 4: Chilean Motor Insurance - Road Accidents, 2012-2016
Table 5: Chilean Personal Accident and Health Insurance - Gross Written Premium (CLP Billion and US$ Billion), 2012-2016
Table 6: Chilean Personal Accident and Health Insurance - Penetration (%), 2012-2016
Table 7: Chilean Personal Accident and Health Insurance - Gross Written Premium (CLP Billion and US$ Billion), 2016-2021
Table 8: Chilean Personal Accident and Health Insurance - Penetration (%), 2016-2021
Table 9: Chilean Personal Accident and Health Insurance - Premium per Capita (CLP and US$), 2012-2016
Table 10: Chilean Personal Accident and Health Insurance - Premium per Capita (CLP and US$), 2016-2021
Table 11: Chilean Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2012-2016
Table 12: Chilean Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2016-2021
Table 13: Chilean Personal Accident and Health Insurance - Paid Claims (CLP Billion and US$ Billion), 2012-2016
Table 14: Chilean Personal Accident and Health Insurance - Paid Claims (CLP Billion and US$ Million), 2016-2021
Table 15: Chilean Personal Accident and Health Insurance - Profitability Ratio (%), 2012-2016
Table 16: Chilean Personal Accident and Health Insurance - Profitability Ratio (%), 2016-2021
Table 17: Chilean Personal Accident and Health Insurance - Total Assets (CLP Billion and US$ Billion), 2012-2016
Table 18: Chilean Personal Accident and Health Insurance - Total Assets (CLP Billion and US$ Billion), 2016-2021
Table 19: Chilean Personal Accident and Health Insurance - Total Investment Income (CLP Billion and US$ Billion), 2012-2016
Table 20: Chilean Personal Accident and Health Insurance - Total Investment Income (CLP Billion and US$ Billion), 2016-2021
Table 21: Chilean Personal Accident and Health Insurance - Investment Portfolio (CLP Billion), 2012-2016
Table 22: Chilean Personal Accident and Health Insurance - Investment Portfolio (CLP Billion), 2016-2021
Table 23: Chilean Personal Accident and Health Insurance - Direct Written Premium by Category (CLP Billion), 2012-2016
Table 24: Chilean Personal Accident and Health Insurance - Direct Written Premium by Category (CLP Billion), 2016-2021
Table 25: Chilean Personal Accident Insurance - Direct Written Premium (CLP Billion and US$ Million), 2012-2016
Table 26: Chilean Personal Accident Insurance - Direct Written Premium (CLP Billion and US$ Million), 2016-2021
Table 27: Chilean Personal Accident Insurance - Number of Active Policies (Thousand), 2012-2016
Table 28: Chilean Personal Accident Insurance - Number of Active Policies (Thousand), 2016-2021
Table 29: Chilean Personal Accident Insurance - Paid Claims (CLP Billion and US$ Billion), 2012-2016
Table 30: Chilean Personal Accident Insurance - Paid Claims (CLP Billion and US$ Billion), 2016-2021
Table 31: Chilean Personal Accident Insurance - Loss Ratio (%), 2012-2016
Table 32: Chilean Personal Accident Insurance - Loss Ratio (%), 2016-2021
Table 33: Chilean Health Insurance - Direct Written Premium by Sub-Category (CLP Billion), 2012-2016
Table 34: Chilean Health Insurance - Direct Written Premium by Sub-Category (CLP Billion), 2016-2021
Table 35: Chilean Health Insurance - Number of Active Policies by Sub-Category (Thousand), 2012-2016
Table 36: Chilean Health Insurance - Number of Active Policies by Sub-Category (Thousand), 2016-2021
Table 37: Chilean Health Insurance - Paid Claims (CLP Billion and US$ Million), 2012-2016
Table 38: Chilean Health Insurance - Paid Claims (CLP Billion and US$ Million), 2016-2021
Table 39: Chilean Health Insurance - Loss Ratio (%), 2012-2016
Table 40: Chilean Health Insurance - Loss Ratio (%), 2016-2021
Table 41: Chilean Travel Insurance - Direct Written Premium (CLP Billion and US$ Million), 2012-2016
Table 42: Chilean Travel Insurance - Direct Written Premium (CLP Billion and US$ Million), 2016-2021
Table 43: Chilean Travel Insurance - Number of Active Policies (Thousand), 2012-2016
Table 44: Chilean Travel Insurance - Number of Active Policies (Thousand), 2016-2021
Table 45: Chilean Travel Insurance - Paid Claims (CLP Billion and US$ Million), 2012-2016
Table 46: Chilean Travel Insurance - Paid Claims (CLP Billion and US$ Million), 2016-2021
Table 47: Chilean Travel Insurance - Loss Ratio (%), 2012-2016
Table 48: Chilean Travel Insurance - Loss Ratio (%), 2016-2021
Table 49: Chilean Personal Accident and Health Segment - Market Shares of Leading Insurers (%), 2016
Table 50: Metlife Chile Seguros De Vida SA - Key Facts
Table 51: Consorcio Nacional de Seguros SA - Key Facts
Table 52: Bice Vida Compañía de Seguros SA - Key Facts
Table 53: Chilena Consolidada Seguros de Vida SA - Key Facts
Table 54: Seguros de Vida Sura SA - Key Facts
Table 55: Chile - Insurance Regulatory Framework Key Features
Table 56: Chile - Life Insurance Regulatory Framework
Table 57: Chile - Property Insurance Regulatory Framework
Table 58: Chile - Motor Insurance Regulatory Framework
Table 59: Chile - Liability Insurance Regulatory Framework
Table 60: Chile - Factors Used for Solvency Margin Calculation
Table 61: Chile - Corporate Tax Rates for the Financial Year 2017
Table 62: Chilean Personal Accident and Health Insurance Industry - Policies and Premium, 2012-2016
Table 63: Chilean Personal Accident and Health Insurance Industry - Policies and Premium, 2016-2021
Table 64: Chilean Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
Table 65: Chilean Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
Table 66: Chilean Personal Accident and Health Insurance - Assets and Investments, 2012-2016
Table 67: Chilean Personal Accident and Health Insurance - Assets and Investments, 2016-2021
Table 68: Chilean Personal Accident and Health Insurance - Personal Accident Insurance, 2012-2016
Table 69: Chilean Personal Accident and Health Insurance - Personal Accident Insurance, 2016-2021
Table 70: Chilean Personal Accident and Health Insurance - Health Insurance, 2012-2016
Table 71: Chilean Personal Accident and Health Insurance - Health Insurance, 2016-2021
Table 72: Chilean Personal Accident and Health Insurance - Health Insurance by Product, 2012-2016
Table 73: Chilean Personal Accident and Health Insurance - Health Insurance by Product, 2016-2021
Table 74: Chilean Personal Accident and Health Insurance - Travel Insurance, 2012-2016
Table 75: Chilean Personal Accident and Health Insurance - Travel Insurance, 2016-2021
Table 76: Insurance Industry Definitions

List of Figures
Figure 1: Chile Real GDP (CLP Billion), 2012-2021
Figure 2: CLP-US$ Exchange Rate, 2012-2021
Figure 3: Chilean Consumer Price Inflation (%), 2012-2021
Figure 4: Chilean Current Account Balance as Percentage of GDP (%), 2012-2016
Figure 5: Chile Unemployment Rate, 2012-2021
Figure 6: Chile Population by Age Group, 1991-2025
Figure 7: Chilean Life Insurance Penetration - Regional Comparison (%), 2016
Figure 8: Chilean Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2016
Figure 9: Chilean Personal Accident and Health Insurance - Gross Written Premium (CLP Billion), 2012-2021
Figure 10: Chilean Personal Accident and Health Insurance - Penetration (%), 2012-2021
Figure 11: Chilean Personal Accident and Health Insurance - Premium per Capita (CLP), 2012-2021
Figure 12: Chilean Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 13: Chilean Personal Accident and Health Insurance - Paid Claims (CLP Billion), 2012-2021
Figure 14: Chilean Personal Accident and Health Insurance - Profitability Ratio (%), 2012-2021
Figure 15: Chilean Personal Accident and Health Insurance - Total Assets (CLP Billion), 2012-2021
Figure 16: Chilean Personal Accident and Health Insurance - Total Investment Income (CLP Billion), 2012-2021
Figure 17: Chilean Personal Accident and Health Insurance - Investment Portfolio (CLP Billion), 2012-2021
Figure 18: Chilean Personal Accident and Health Insurance - Investment Portfolio Dynamics by Types of Investment, 2012-2021
Figure 19: Chilean Personal Accident and Health Insurance - Direct Written Premium by Category (CLP Billion), 2012-2021
Figure 20: Chilean Personal Accident and Health Insurance - Direct Written Premium Dynamics by Category, 2012-2021
Figure 21: Chilean Personal Accident Insurance - Direct Written Premium (CLP Billion), 2012-2021
Figure 22: Chilean Personal Accident Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 23: Chilean Personal Accident Insurance - Paid Claims (CLP Billion), 2012-2021
Figure 24: Chilean Personal Accident Insurance - Earned Premium, Incurred Loss and Loss Ratio (CLP Billion and %), 2012-2021
Figure 25: Chilean Health Insurance - Direct Written Premium by Sub-Category (CLP Billion), 2012-2021
Figure 26: Chilean Health Insurance - Direct Written Premium Dynamics by Sub-Category, 2012-2021
Figure 27: Chilean Health Insurance - Number of Active Policies by Sub-Category (Thousand), 2012-2021
Figure 28: Chilean Health Insurance - Paid Claims (CLP Billion), 2012-2021
Figure 29: Chilean Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (CLP Billion and %), 2012-2021
Figure 30: Chilean Travel Insurance - Direct Written Premium (CLP Billion), 2012-2021
Figure 31: Chilean Travel Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 32: Chilean Travel Insurance - Paid Claims (CLP Billion), 2012-2021
Figure 33: Chilean Travel Insurance - Earned Premium, Incurred Loss and Loss Ratio (CLP Billion and %), 2012-2021
Figure 34: Chile - Insurance Supervision and Control at Various Levels
Figure 35: Chile - Insurance Regulatory Frameworks for Company Registration and Operation
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