Betterfly, a Chilean insurtech unicorn, reached 1 million paying users in just three years since its launch.

  • The company unveiled a new, fully personalized platform combining insurance, wellness benefits, and social impact in a gamified experience.
  • Betterfly plans to expand into other European countries and the United States, with a target launch in late 2023 or early 2024.

    Betterfly, a Chilean insurtech unicorn offering personalized protection with social benefits, has reached 1 million paying users across Latin America just three years after its market debut. To celebrate this milestone, the company launched a new, fully customized platform that combines insurance, wellness benefits, and social impact in a gamified experience, transforming how companies and employees view insurance and benefits.

    The AI-powered platform allows users to build their own paths, easily subscribe to insurance based on their needs, and access motivating wellness benefits. Companies can protect their teams with personalized insurance, improve habits and personal growth with flexible benefits, connect teams socially, and reward positive actions like learning, walking, and meditating with exclusive discounts and incentives.

    In 2024, Betterfly expanded its insurance offerings, including dental coverage and bicycle insurance, and partnered with Headspace, Fit On, and Udemy to provide users with access to meditation, health, wellness content, and online courses.

    Currently, approximately 40% of Betterfly’s users are in Chile (around 370,000), followed by Brazil (29-30%), Mexico, and Spain. However, Brazil and Spain are expected to surpass Chile soon, with annual growth rates between 200% and 300%.

    Betterfly plans to expand to the rest of Europe and the United States, with operations in Italy, France, and Portugal expected to begin “sooner rather than later.” The company is prepared to launch in the US at any time, with a targeted entry in late 2023 or early 2024.