BICE VIDA

What BICE VIDA does

BICE VIDA (legal name: BICE Vida Compañía de Seguros S.A.) is a Chilean life insurance and annuities company founded in 1993 and headquartered in Santiago, Chile. Originally established as a BICE–Allianz joint venture (Allianz BICE), it became fully owned by BICE in 1999 and was renamed BICE VIDA; it has since grown through multiple acquisitions including Seguros de Vida La Construcción (2004), the Sura Rentas Vitalicias annuities portfolio (2020), and — most recently — Grupo Security, whose life insurance subsidiary Vida Security merged into BICE VIDA on July 13, 2026. The company holds the AA+ risk classification, the highest available to a Chilean insurer, and is supervised by Chile's CMF (Comisión para el Mercado Financiero). It is anchored within the BICECORP financial holding group, alongside Banco BICE and BICE Inversiones, and serves more than 1.8 million insured and pensioner clients across Chile.

The company operates a multi-line insurance and savings platform spanning individual life cover (Seguro de Vida Full Protección, Proyexxión), life-with-savings and APV (voluntary pension savings) products with guaranteed UF+2.1% annual returns (APV Select, APV Max 3.0, APV LIFE, APV Start, Ahorro Familiar, Universitario, Life Max), health insurance (Catastrófico, Complementario, Oncológico), accident and funeral (deceso) cover, travel insurance (Viaje Protegido, Viaje Frecuente), lifetime annuities (Renta Vitalicia Previsional, Renta Privada), collective group policies for enterprises and SMEs (including Mi PYME Segura), and consumer credit for pensioners. Underlying technology comprises a digital insurance platform built around a Sucursal Virtual web portal, iOS and Android mobile applications, automated reimbursement integrations with Imed and major pharmacy chains (Cruz Verde, Salcobrand, Ahumada) via RUT/fingerprint identification, and WhatsApp-based document intake. Distribution combines 19+ physical branches (Arica to Punta Arenas) with inside sales (call center 800 2020 22), self-service digital channels, and an enterprise sales team for group contracts.

The business model is anchored in recurring insurance premiums (monthly or annual subscriptions in inflation-adjusted UF), supplemented by one-time single-premium payments on savings and life-max products, periodic annuity payout administration funded by AFP-accumulated balances and private capital, and asset-based fees from APV products routed into BICE Inversiones mutual funds. Strategic differentiation rests on regulatory standing (AA+), BICE group affiliation, integrated digital-plus-physical distribution, and 30+ years of brand equity, with growth increasingly pursued through inorganic moves and SME plus digital-channel expansion rather than aggressive pricing competition.

Name

BICE VIDA

Legal name

BICE Vida Compañía de Seguros S.A.

Website

https://bicevida.cl

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

BICE VIDA is a Chilean life insurance and annuities company within the BICE financial holding, serving 1.8 million-plus individual, corporate, SME, and pensioner customers through physical branches, digital channels, and a mobile app.

Ownership category

akta.pro rank

Product category

Life Insurance and Annuities

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113), Insurance Carriers (5241)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Participating (Dividend) Whole Life Insurance (FSAIABAI), Group Universal Life (GUL) (FSAIADAC), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

Keywords

• Life insurance services
• Voluntary pension savings
• Annuity products
• Health insurance plans
• Collective group insurance

Headquarters

HQ city

Santiago

HQ country

Chile

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Life Insurance Premiums: Monthly or annual premium payments for life insurance policies including death benefit coverage
2. Health Insurance Premiums: Subscription-based health insurance including catastrophic, complementary, and oncological coverage
3. Annuity Payments (Rentas Vitalicias): Monthly pension payments to retirees in exchange for accumulated funds from AFP
4. APV (Voluntary Pension Savings): Voluntary pension savings products with tax benefits
5. Travel Insurance: One-time or annual payments for travel insurance coverage
6. Accident Insurance: Premiums for personal accident coverage
7. Death Insurance (Deceso): Funeral expense coverage with monthly premiums
8. Corporate/Collective Insurance: Group insurance policies for companies and PYMES covering life, health, and accident

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels4 records

Core offering

BICE VIDA is a Chilean life insurance and annuities company that sells individual and collective life insurance, health insurance (catastrophic, complementary, oncology), accident insurance, travel insurance, and funeral/death (deceso) insurance. It also sells voluntary pension savings (APV) products with guaranteed UF+2.1% annual returns, lifetime annuity products (Renta Vitalicia Previsional and Renta Privada) for retirees exchanging AFP accumulated funds, and consumer credit products targeted at pensioners. Distribution is hybrid via 19+ branches, call center, WhatsApp, virtual branch, mobile app, and online contracting.

Product overview

BICE VIDA is a comprehensive life insurance company offering a diverse portfolio of individual and collective insurance products, annuity products, and digital services. The core offerings include life insurance (Seguro de Vida Full Protección, Seguro Proyexxión), savings-oriented life insurance with guaranteed UF+2.1% returns (Seguro APV Select, APV Max 3.0, Seguro de Ahorro Familiar, APV Start, Mi APV Seguro, APV LIFE, Seguro de Ahorro Universitario, Life Max), health insurance (Seguro Catastrófico de Salud, Seguro Complementario de Salud, Seguro Oncológico), travel insurance (Viaje Protegido, Viaje Frecuente), accident insurance, and funeral expense insurance. The company also provides annuity products including Renta Vitalicia Previsional and Renta Privada, collective insurance for businesses and SMEs, consumer credit for pensioners, and wellness benefits through Beliv. Digital services include mobile app, virtual branch, online reimbursement systems, and retirement/annuity simulators. The company operates as part of the BICECORP financial holding and serves over 1.8 million policyholders across Chile.

Differentiator

Problem solved

Functional benefit

Brands

• Beliv by BICE: Wellness benefits program including step tracking, rewards, discounts, and daily reflections
• Entrepensionados BICE VIDA
• Mi PYME Segura
• BICE Lifeplan
• APV Start

Products and services

• Seguro de Vida Full Protección Life insurance providing financial protection for beneficiaries in case of policyholder's death, with coverage up to UF 10,000. Designed for individuals seeking straightforward family financial protection.
• Seguro Proyexxión Life insurance with a guaranteed savings component, protecting the family in case of death or disability while building guaranteed savings over the life of the policy.
• Seguro de Accidentes Personales Accident insurance providing a capital benefit for accidental death, with optional add-ons for hospitalization and disability coverage. Targeted at individuals seeking protection against the financial impact of accidents.
• Seguro de Deceso Familiar Funeral expense insurance that coordinates and reimburses funeral services, including death benefits up to UF 200. Built in partnership with Spanish insurance group Santalucía.
• Seguro APV Select Voluntary pension savings insurance (APV) with a guaranteed UF+2.1% annual return for a single payment (UF 600), designed to improve retirement pension outcomes with tax benefits.
• Seguro APV Max 3.0 Monthly-payment voluntary pension savings insurance with guaranteed returns, protecting the family while building retirement savings. Pricing starts at UF 3 monthly.
• Seguro de Ahorro Familiar Flexible savings life insurance with a guaranteed UF+2.1% annual return, flexible withdrawals, and coverage until age 99. Designed for families building long-term savings with life protection.
• Seguro APV Start Entry-level life insurance combined with APV for young people starting retirement savings, with UF 100 death benefit and UF 900 accidental death coverage at UF 0.69 monthly.
• Mi APV Seguro Flexible APV life insurance allowing policyholders to save for retirement while protecting their family with life coverage embedded in the savings contract.
• Seguro APV LIFE Life insurance with APV combining voluntary pension savings with life protection up to UF 3,000, offering investment in 15 mutual funds managed by BICE Inversiones, with tax benefits.
• Seguro de Ahorro Universitario Education savings insurance with guaranteed UF+2.1% return, designed to finance children's university or technical education.
• Seguro Life Max Single-payment savings life insurance with guaranteed returns for wealth protection, estate planning, and legacy transfer (UF 3,000 single payment).
• Seguro Catastrófico de Salud Catastrophic health insurance covering high-cost medical expenses from serious illness or accidents, with up to 100% coverage for Isapre and Fonasa and capital up to UF 35,000.
• Seguro Complementario de Salud Supplemental health insurance that complements Isapre or Fonasa coverage, reimbursing medical expenses including emergencies, medications, and exams up to UF 600 annually.
• Seguro Oncológico Familiar Cancer-specific health insurance providing immediate financial support upon cancer diagnosis, with additional accidental death coverage. Targeted at families concerned about oncology expenses.
• Seguro Viaje Protegido Travel insurance covering medical expenses, unexpected events, accidents, and luggage loss for international vacations. One-time payment of UF 0.231, with assistance from AXA and Assist Card.
• Seguro Viaje Frecuente Annual frequent-traveler insurance providing 365-day coverage for accidental death and worldwide medical assistance, with US$60,000 assistance and UF 250 accidental death coverage at UF 4.5 per year.
• Renta Vitalicia Previsional Lifetime annuity providing a fixed monthly pension in UF, guaranteeing income for the policyholder's entire life. Four types available: normal old-age, early old-age, disability, and survival pensions.
• Renta Privada Private annuity insurance providing periodic income in UF until death in exchange for a single premium payment, designed for retirement income diversification beyond the mandatory AFP system.
• Seguros Colectivos para Empresas Group life and health insurance for businesses, providing employee benefits including death, health, and accident coverage under a collective policy framework.
• Seguro Colectivo Mi PYME Segura Small-business group insurance protecting employees with health and life coverage, featuring benefits for employee wellbeing. Targeted at Chilean PYMES.
• Crédito de Consumo para Pensionados Consumer credit for BICE VIDA pensioners featuring favorable rates, up to 6 months grace period, and 24-hour approval, offered exclusively to existing BICE VIDA pension customers.
• App BICE VIDA Mobile application for iOS and Android enabling policy management, reimbursement requests, and product access for individual and group customers of BICE VIDA.
• Simulador Renta Vitalicia Annuity simulation tool calculating approximate monthly pension amounts based on accumulated AFP and APV funds, helping retirees evaluate Renta Vitalicia options before purchase.

Quantifiable outcome

• UF+2.1% guaranteed annual return on savings insurance products
• +2 more outcomes

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• SantalucíacoreStrategic or Co-development PartnerStrategic partnership with Spanish insurance group Santalucía for Seguro de Deceso (death/funeral insurance) products. Santalucía brings over 100 years of experience, 7+ million insured, and presence in Europe and Latin America.
• BICE InversionescoreStrategic or Co-development PartnerInvestment management partner for APV and savings products, providing access to 15 different mutual funds for investment diversification.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Confuturo (CMF): One of the largest Chilean life insurance and annuity companies, directly competing with BICE VIDA in Rentas Vitalicias, APV, and individual life products. Closest comparable on product mix and target customer.
• MetLife Chile: Major Chilean life insurer offering group life, individual life, and savings products. Directly competes with BICE VIDA across corporate and individual segments with comparable digital distribution.
• Seguros Sura Chile (formerly Sura Seguros de Rentas Vitalicias): Sura's Chilean operation focuses on annuities (Rentas Vitalicias) and life insurance. BICE VIDA actually acquired Sura's annuities portfolio in 2020, making Sura a direct historical competitor in the same niche.
• Principal Financial Group Chile: Chilean life insurer with strong APV and group life offerings; competes with BICE VIDA for individual and corporate voluntary pension savings clients.
• Zurich Santander Seguros Chile: Life and protection insurance joint venture leveraging Banco Santander's distribution in Chile; directly competes with BICE VIDA's group and individual life products.
• Renta Nacional Compañía de Seguros de Vida: Chilean annuity and life insurance specialist; directly competes with BICE VIDA in Rentas Vitalicias and individual life products.
• Banchile Seguros de Vida: Life insurance arm of Banco de Chile's group; competes in APV, life, and savings products leveraging parent bank's large customer base, similar to BICE VIDA's BICE group affiliation.

Broad incumbents

• Mapfre Compañía de Seguros de Vida de Chile: Spanish-headquartered global insurer with Chilean life operations; broader portfolio including P&C but competes with BICE VIDA in life and health insurance segments.
• Consorcio Nacional de Seguros: Established Chilean multi-line insurer with substantial life insurance operations; broad incumbent competing across life, annuities, and group insurance with BICE VIDA.

Regional players

• Cruz del Sur Seguros de Vida: Chilean life insurer focused on individual life and savings products with strong regional distribution; comparable to BICE VIDA on product mix but smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bice_vida
• Facebookfacebook.com/bicevida
• LinkedInlinkedin.com/company/bice-vida
• Instagraminstagram.com/bicevida/?igshid=1hvwy2nj0rlzk

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BICE VIDA