Tags: discovery life
Discovery Life clients can now get higher PayBacks if vaccinated against COVID-19
Johannesburg, 29 July 2021 – Discovery Life has announced a ‘first-of-its-kind’ underwriting determinant for the South African life insurance market, stating that being vaccinated against COVID-19 is now an additional consideration in determining life insurance premiums and benefits for new clients, effective from the 29th of July 2021.
“Through our premium PayBack reward mechanism, we are off
Discovery wins at the Efma–Accenture Innovation in Insurance Awards 2021
Discovery took home Gold in the Core Insurance Transformation category and Silver in the Global Innovator category at the Efma-Accenture Innovation in Insurance Awards. The virtual ceremony showcased the best examples of insurance innovations across the globe.
Discovery delivers robust half-year results with elevated investment in strategic new initiatives
The Group highlighted results for the period ended 31 December 2019, characterised by substantial investment in new initiatives and a strong performance from the core businesses with the exception of VitalityLife: • Net asset value increased by R1 598 million • Total new business API increased 17% to R11 116 million • Normalised profit from operations decreased 7% to R3 551 million
The most critical risks South Africans face today
Discovery Life’s 2018 claims data has revealed the major risks Discovery Life members across different age groups faced in 2018. Unnatural causes continue to be the predominant reason for death claims, among people under the age of 30. Last year, the leading causes of unnatural deaths were motor vehicle accidents (35%), suicide (32%), other accidents (17%) and crime (16%).
Millennials face a demonstrable insurance gap of R15 trillion
South Africa’s young adults could bridge the growing life and disability insurance gap by diverting a fraction of their monthly lifestyle expenditure to financial services products. The largest insurance gap is currently presented by millennials between the age of 18 and 30 coupled by high levels of indebtedness and low savings.
The state of health in South Africa according to Discovery Life’s claim experience 2016
Discovery Life published insights of its life assurance claims from January 2016 to December 2016. A total of 20 247 claims were paid over the period, amounting to R3.2 billion. This brings the total amount that Discovery Life has paid out to date up to R18.7 billion.
Discovery Life highlights the state of health in South Africa from its claims statistics
Discovery Life published details of its life assurance claims from January 2015 to December 2015. A total of 19 591 claims were paid over the period, amounting to R2.8 billion. Unnatural deaths accounted for 21% of all claims in 2015.As many as 60% of Discovery Life claimants were older than 50 in the same period...
Financial Intermediaries Association gives Discovery top honours
Discovery walked away the winner in two categories of the 2016 FIA Awards. Discovery Life, for the seventh time overall and the fourth year in a row, took top honours as the Long Term Insurance Product Supplier of the Year – Risk, while Discovery Health was selected the Healthcare Product Supplier of the Year for the 8th time since these awards were announced.
More health, more years, more life
Discovery Life paid out more than R1 billion to date in cash rewards to clients for leading healthy lifestyles, of which more than R400 million was paid out in 2014. Encouraging and rewarding healthy living is the cornerstone of Discovery’s insurance offering.
Discovery bags FIA award
5 June 2015 – Discovery Life took top honours in the long-term insurance category at the prestigious annual Financial Intermediaries Association of Southern Africa (FIA) Awards held in Johannesburg last night. The awards recognise and honour South Africa’s leading product providers in the financial services industry.
Discovery Life’s annual claims experience reaffirms the need for comprehensive life, severe illness and disability cover
Discovery Life paid out close to R2 billion in claims to South Africans or their estates in 2013, and more than R10.3 billion to date since Discovery Life was established in 2000.
Discovery wins two prestigious FIA Awards
Discovery has succeeded in winning awards in two categories at this year’s Financial Intermediary Association of Southern Africa (FIA) Awards. Discovery Life took the honours in the category Long-term Insurance Product Supplier of the Year – Risk Products and Discovery Health was named Product Supplier of the year – Healthcare.