Press release -
The Generali Group announce partnership that will see Discovery’s shared-value insurance model rolled out in Europe
The Generali Group (“Generali”) today announced a strategic partnership that will see the introduction of Discovery’s shared-value insurance model to the European market. Generali is one of the 50 largest organisations in the world and serves over 60 million clients.
Adrian Gore, CEO of Discovery Limited, commented on the joint venture saying, “We are looking forward to partnering with Generali, one of Europe’s largest and most highly respected insurance groups. We have an almost identical core purpose of making people healthier and enhancing and protecting their lives; and could not have chosen a better organisation to partner with in Europe.”
Discovery’s shared-value insurance model is based on the combination of engaging policyholders and incentivising them to manage their wellness, and dynamically pricing their behaviour into their insurance. The model guides, incentivises, and provides policyholders with access to a broad range of wellness and prevention pathways, and measures engagement clinically and actuarially, enabling the dynamic pricing of mortality, morbidity, and health risk.
The design phase with Generali has already commenced and the first customers are expected to be signed up in Germany, France and Austria. The strategy enhances Discovery's international footprint, complementing our established exclusive partnerships in Asia and providing access and exposure to the European insurance market with a market-leading partner.
About The Generali Group
The Generali Group is one of the largest global insurance providers with 2013 total premium income of €66 billion. With 77,000 employees worldwide serving 65 million clients in more than 60 countries, the Group occupies a leadership position on West European markets and an increasingly important place on markets in Central Eastern Europe and Asia.
About Discovery Limited
Discovery Limited is a South African-founded financial services organisation that operates in the healthcare, life assurance, short-term insurance, savings and investment products and wellness markets. Founded in 1992 by the current Group Chief Executive Officer Adrian Gore, Discovery was guided by a clear core purpose – to make people healthier and to enhance and protect their lives. Underpinning this core purpose is the belief that through innovation Discovery can be a powerful market disruptor.
The company, with headquarters in Johannesburg, South Africa, has expanded its operations globally and currently serves over seven million clients across South Africa, the United Kingdom, the United States, China and Singapore. Vitality, Discovery’s wellness programme, is the world’s largest scientific, incentive-based wellness solution for individuals and corporates. The global Vitality membership base now exceeds 5.5 million lives in five markets.
Discovery is an authorised financial services provider. It trades on the Johannesburg Securities Exchange under the code “DSY”.
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