Country Update: Costa Rica

Insurope’s Network Member Internacional de Seguros holds a leading position in the Costa Rican Life and Health insurance market. We recently sat down with the team to discuss the unique market landscape in Costa Rica.

How is Internacional de Seguros adapting to change in the market?

Internacional de Seguros (IS) is adapting to market changes by evolving from a traditional insurance provider into a strategic partner for multinational employers. In an environment marked by increasing cost pressure, medical inflation, and greater complexity in employee benefits, IS has focused on delivering more agile, flexible, and value-driven solutions.

This adaptation is reflected in the design of customized and sustainable benefits programs, combining smart cost-containment strategies, and effective risk management. At the same time, IS has strengthened its digital capabilities and process automation to improve response times, simplify administration, and enhance the experience for both insured members and HR teams.

Through its active role within the Insurope network, IS also enables multinational and regional solutions that support pooling, regional consistency, and alignment with global benefits strategies. Additionally, IS continues to expand high perceived-value benefits such as telemedicine, primary healthcare, wellness initiatives, and strong post-sale support, helping employers attract and retain talent while maintaining control over claims and costs.

Why is Costa Rica considered an attractive destination for multinational companies, and what are its main strengths and challenges?

Costa Rica is considered an attractive destination for multinational companies due to its political and institutional stability, its openness to international trade, and a clear regulatory framework established since the liberalization of the insurance market. One of its key differentiators is its human capital: the country has a highly qualified, bilingual workforce with a strong orientation toward services, innovation, and quality, supported by a solid education system and a culture well adapted to international standards.

This combination has enabled Costa Rica to consolidate a strong presence of multinational companies in sectors such as technology, shared services, advanced manufacturing, and life sciences, where human capital is a critical value driver. In addition, Costa Rican talent is known for its commitment, strong work ethic, and ability to perform high value-added functions, which supports the continuity and expansion of regional and global operations.

Among the main challenges are rising labor and benefit costs, competition for specialized talent, and the impact of medical inflation. These factors require companies to manage their employee value proposition strategically and sustainably, balancing compensation, benefits, wellbeing, and professional development in order to attract, retain, and engage talent in an increasingly competitive market.

What makes the employee benefits market in Costa Rica unique?

The employee benefits market in Costa Rica is characterized by the coexistence of a solid public healthcare system and complementary private plans, which creates high expectations for added value in medical expense insurance.

Companies seek flexible and customizable solutions, combining contributory and non-contributory schemes, as well as differentiating benefits such as telemedicine, primary healthcare, wellness programs, in-home medical services, and digital platforms. These elements are part of the value ecosystem offered by Internacional de Seguros.

Are there any recent regulatory changes impacting the market?

While no major structural regulatory changes have been introduced recently, the market operates under strict supervision by SUGESE, with an increasing focus on compliance, due diligence, KYC, and source of funds.

This regulatory environment has reinforced the importance of having robust, well-documented processes aligned with both local and international standards, particularly for multinational accounts and regional programs.

What is Internacional de Seguros’ position within the market?

Internacional de Seguros holds a leading position in the Costa Rican Life and Health insurance market and is among the main players in the sector. We have the 3rd place of private Insurers. It serves more than 600,000 insured members and has an integrated digital platform that supports operational efficiency and enhances the customer experience.

What does this mean for multinational employers operating locally?

For multinational employers, this context highlights the need to work with strong local partners that have deep market knowledge, regional execution capabilities, and a clear understanding of regulatory and cost-related challenges.

Working with Internacional de Seguros within the Insurope network allows companies to align their global strategy with local realities, access consistent regional solutions, optimize costs through pooling, and ensure professional, transparent management aligned with international standards.

Learn more here: Network Members - Internacional de Seguros (IS)