Discovery Vitality is nominated in the Global Innovator category at the Qorus Innovation in Insurance Awards 2024. We asked the bank to present its strategy and actions in terms of innovation.
Why do you consider your company a Global Innovator?
Discovery is a global financial services organisation founded on a core purpose of making people healthier, known for its pioneering behaviour-change programme, Vitality. Vitality enables a new generation of insurance that uses behavioural insights, personalised incentives, and clinical expertise to engage people in making positive choices, sharing the value of those choices through incentives and rewards. Our approach is powered by the world’s largest behavioural data set, using cutting-edge actuarial science and technology to create meaningful, user-friendly products. Vitality has been scaled across the world through partnerships with leading insurers, touching over 35 million lives in 40 markets. The benefits have been demonstrated in academic studies with leading independent institutions, showing Vitality’s positive impact on physical, mental, and financial health. In FY23, we saved over two million life years and returned R13.7 billion in value to clients; and we aim to incentivise one billion healthy activities a year by 2030.
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