Discovery is a South African insurance company founded in 1992 by Adrian Gore. The company operates in the health, life, and short-term insurance markets, and is known for its innovative approach to wellness and rewards programs. This article will take a deep dive into the history, products, and unique features of Discovery Insurance Company.
History
Discovery began as a small healthcare consultancy, but quickly expanded to include insurance services. In 1997, the company launched its first health insurance product, which included a rewards program that incentivized healthy behaviors such as exercise and healthy eating.
Over the years, Discovery has continued to innovate and expand its offerings. In 2001, it launched Discovery Life, which integrated its health and life insurance products. In 2015, it entered the short-term insurance market with Discovery Insure.
Today, Discovery is one of the largest insurance companies in South Africa, with a market capitalization of over R100 billion. It has also expanded its operations to countries such as the United Kingdom and China.
Products
Discovery’s main products are health, life, and short-term insurance. Let’s take a look at each in more detail:
Health Insurance
Discovery Health offers a range of health insurance plans, from basic hospital plans to comprehensive options that cover everything from doctor visits to chronic medication. What sets Discovery Health apart from other insurers is its wellness program, Vitality. This program rewards members for engaging in healthy behaviors such as exercise, healthy eating, and regular health checks. Members can earn rewards such as free gym memberships, movie tickets, and even discounts on flights.
Life Insurance
Discovery Life offers a range of life insurance products, from term life insurance to whole-of-life cover. It also offers a unique product called Global Life, which provides cover for death and disability anywhere in the world. Like its health insurance, Discovery Life integrates its life insurance products with the Vitality wellness program, allowing members to earn rewards for healthy behaviors.
Short-Term Insurance
Discovery Insure offers car, home, and business insurance. Its car insurance includes a telematics device that tracks driving behavior, which can result in discounts for safe driving. Its home insurance includes emergency assistance services such as plumbers and electricians, which are available 24/7.
Unique Features
Discovery Insurance Company is known for its innovative approach to insurance. Here are some of its unique features:
Vitality Wellness Program
The Vitality program is available to members of Discovery Health and Discovery Life. It rewards members for engaging in healthy behaviors such as exercise, healthy eating, and regular health checks. Members can earn rewards such as free gym memberships, movie tickets, and even discounts on flights.
Telematics
Discovery Insure’s car insurance includes a telematics device that tracks driving behavior. This can result in discounts for safe driving, as well as rewards for completing driver training courses.
Emergency Assistance Services
Discovery Insure’s home insurance includes emergency assistance services such as plumbers and electricians. These services are available 24/7 and can help members deal with emergencies such as burst pipes or electrical faults.
FAQ
Question |
Answer |
What is Discovery Insurance Company? |
Discovery is a South African insurance company that offers health, life, and short-term insurance products. |
What is the Vitality program? |
The Vitality program is a wellness program that rewards members for engaging in healthy behaviors such as exercise, healthy eating, and regular health checks. |
What is telematics? |
Telematics is a technology that allows insurers to track driving behavior in order to reward safe drivers and encourage safer driving. |
Does Discovery Insurance Company operate outside of South Africa? |
Yes, Discovery has expanded its operations to countries such as the United Kingdom and China. |
What types of insurance does Discovery offer? |
Discovery offers health, life, and short-term insurance products. |
Conclusion
Discovery Insurance Company is a South African insurance company that offers health, life, and short-term insurance products. It is known for its innovative approach to wellness and rewards programs, as well as its use of telematics to encourage safer driving. Whether you’re looking for comprehensive health insurance or emergency assistance for your home, Discovery has a range of products to meet your needs.
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