Vitality now live in 16 countries

South African financial services group Discovery has been outlining the rapid growth of its Vitality network to 16 countries across North America, Europe, pan-Asia, South Africa and the UK, serving close to ten million clients through seven insurers. It claims the brand is attracting more than 150 000 new members a month. In the space of the last year, Vitality Group – Discovery’s arm tasked with driving the global expansion of the Vitality Shared-Value Insurance model – introduced the model to six new markets. Discovery chief executive Adrian Gore explained: “We have seen excellent engagement levels in Vitality in both new and established markets, with most experiencing Vitality take-up in excess of 40%.” Vitality Active Rewards has been Discovery’s fastest-growing health promotion offering to date, available in Singapore, South Africa, the UK, US, China, Australia and Hong Kong, with plans to roll out globally in 2018. It applies short-term incentives to encourage people to reach personalised physical activity goals in exchange for rewards with partners such as Apple and Starbucks – delivering tangible results. In partnership with Apple, Vitality offers members the chance to earn the cost of their Apple Watch by reaching regular activity goals. Those that use the app increase their exercise levels on average by 24%, and those using Apple Watch increase their activity sustainably by an average of 81%. As part of the broader expansion strategy, a partnership with Hannover Re is focused on marketing Vitality Active, a mobile-only version of Vitality Shared-Value Insurance focused primarily on Vitality Active Rewards. The group said Vitality Active is both faster and more economical to launch, making it attractive to smaller life and health insurance markets. During the past 12 months, AIA Vitality, the most mature Vitality Group partner market, launched standalone Active Rewards campaigns to market Vitality and create upsell opportunities in Hong Kong, Malaysia, the Philippines, Singapore, Sri Lanka, and Vietnam. In Australia, Discovery recently partnered AIA Australia and GMHBA Ltd to create a new health insurance brand called myOwn. This joint venture launched in July 2017. myOwn offers health insurance integrated with AIA Vitality through various channels, and will soon also integrate with AIA Life to create a compelling product offering combining both health and life insurance with Vitality. The model has been well received in Europe in the past year, with Generali Vitality’s launch in Germany resulting in high sales volumes, large policy premium sizes and good client engagement. Generali France’s corporate Vitality Shared-Value Insurance offering has seen a significant number of corporates activating Vitality, with exciting prospects for the Generali Austria Vitality offering, which commences sales from 1 October 2017. In China, Ping An Health has seen membership grow by 428% to 3.7 million. Its annualised new business net premium increased 103% to RMB1.6bn year on year, driven largely by the success of the internet product, with operating profit increasing by 66% in South African rand terms. A new branch has opened in the Chengdu region, which has a population of more than 14 million. Further provincial level branches and several smaller branches are planned to open in 2018. Mr Gore said: “Growth projections for Ping An Health’s revenue remain high. After receiving an A- credit rating from AM Best Credit Rating Company, Ping An Health qualified for a reinsurance license from the Chinese Insurance Regulatory Commission in August 2017."

Vitality now live in 16 countries

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