A survey shows less than 10% of respondents made financial investments last year.
Under the new framework, investors will obtain tax benefits.
The head of insurer association AMIS said it was critical for insurers, agents and brokers to view the incoming government's likely elimination of private health plans for high-level officials as an opportunity to reach out to affected bureaucrats and convert policies to individual plans.
The Brazilian health insurer is seeking to stem a large outflow of beneficiaries by increasing the focus on client retention.
The French insurance giant said Mexico was a standout performer thanks to strong growth in the auto and health insurance lines.
The Brazilian insurer says a digital platform will reduce the number of procedures and amount of information needed to produce auto insurance quotes.
Spanish banking giant BBVA said it has "expressed its willingness to negotiate with the Bolivian government to produce a smooth and orderly transfer with the regulator and the authorities."
Until now Brazil has been one of the few major economies in Latin America and the developing world not to have such legislation in place.