18 April 2024, Johannesburg - Discovery Life published its 2023 claims experience showing positive trends in earlier detection of severe illnesses, influenced by an increase in health screenings, and significant decrease in COVID-19 claims.
Across the world and in South Africa, depression is the most common form of mental illness. 1 in 3 people in South Africa experience a mental health issue. Only 1 in 10 people with a mental health issue have access to treatment. What role do healthy eating, exercise, holistic healthcare, and digital therapeutics for mental health play in tackling the unprecedented rise in mental illness – par
Discovery announces annual results for the twelve months ended 30 June 2023
Even though just over 40% of South Africans have funeral cover, only one in 10 South African consumers has life insurance. If the deceased’s estate has a cash shortfall, the funeral and immediate costs may be taken care of, but there are no backup funds available to pay for winding up the estate itself.
There are multiple trends that compound to create a more complex financial planning environment for women. Because of persistent socio-economic inequality, women face a large insurance gap. With this context in mind, Discovery Life has built life insurance products which specifically cater to these challenges and risks.
Johannesburg– Discovery Life’s annual claims review reveals a total of R11 billion was returned to its clients in 2022 in claims linked to uncertain, life-altering events and shared-value benefits. These pay-outs comprised of R9.1 billion in individual life and group life claims and R1.9 billion in PayBack and Cash Conversion payments to clients for managing their health and wellness.
While CO
Today Discovery Life announced the launch of Discovery Life Plan 3.0, a fully digitised customer experience that will become available from 17 March 2023. This new Life Plan is designed to provide clients with access to the most comprehensive suite of risk protection benefits, and experience them, simply and powerfully on the face of their mobile phone. This follows two decades of innovation in bu
14 November 2022, Cape Town: Guidepost, a South African diabetes telemedicine, clinical analytics and risk management company, and Discovery Life, have partnered to deliver a world-first, innovative tech-enabled diabetes management programme, which, in its pilot phase, has delivered significant results for those living with diabetes.
The pilot programme, launched during the COVID-19 pandemic, i
Discovery Bank as the bank with the best client experience in South Africa, and Discovery Life as the leader in service in the long-term Insurance category.
Johannesburg, 10 August 2022: Every year, in August, South Africa marks Women’s Day and Discovery Life undertakes to reflect on its efforts to close the gendered insurance gap in our country. In 2019, ASISA conducted a gap study which found that women have an insurance gap of nearly R15 trillion. An analysis of Discovery Life’s 2021 claims data shows that while women hold 47% of all life polic
Discovery took home three awards in this year’s Efma-Accenture Innovation in Insurance Awards, at a virtual ceremony showcasing the best insurance innovations across the globe.
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 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.
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
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%).
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.
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 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...
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.
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 is a shared value insurance company whose purpose and ambition are achieved through a pioneering business model that incentivises people to be healthier, and enhances and protects their lives.
Discovery Group Limited, 1 Discovery Place, Sandton
2196 Johannesburg
South Africa