Overview

A mountainous country with a very long coastline, Chile has significant exposure to natural hazards, from earthquakes and volcanic activity to tsunamis and flooding. In recent years, the impacts of climate change have been intensifying. Wildfires and heatwaves are increasing in number and severity, and glacier melt worsens flooding and threatens tourism. Financial protection is needed to safeguard lives and livelihoods.

UNDP’s Insurance and Risk Finance Facility is working with Chile’s government to build institutional capacity on insurance and risk finance, helping to identify vulnerabilities in order to create innovative solutions that can protect those who need it most.

Main Natural Hazards

Earthquake, Tsunami, Flood

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1 Source:
https://drmkc.jrc.ec.europa.eu/inform-index/INFORM-Risk/Country-Risk-Profile
Insurance penetration

4.3% (2022)

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1 Source:
https://www.economiayseguromapfre.com/numero-12/el-mercado-asegurador-latinoamericano-en-2022/
Biodiversity ranking

#67 out of 239 countries and territories (2023

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1 Source:
https://worldrainforests.com/03highest_biodiversity.htm
Small business % contribution to workforce

75% of total employment (2012)

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1 Source:
https://www.oecd-ilibrary.org/docserver/9789264254596-14-en.pdf
Multidimensional poverty

11.5% (2022)

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1 Source:
https://www.desarrollosocialyfamilia.gob.cl/storage/docs/ids/Informe-desarrollo-social-2023.pdf
Number of insurance providers

32 life insurance companies, 33 non-life insurance companies and one reinsurer

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1 Source:
https://www.oecd-ilibrary.org/finance-and-investment/oecd-insurance-statistics-2022_80834c38-en
% Workforce engaged in agriculture

6% (2022)

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1 Source:
https://data.worldbank.org/indicator/SL.AGR.EMPL.ZS