Discovery Business Insurance has added four new products to its tailored product offering.
Each of these products is bespoke to an industry segment, and allows Discovery Business Insurance to fulfil its ambition of creating better businesses.
This aligns with Discovery’s Shared-value business insurance model.
Heavy commercial vehicles’ (HCV) insurance
Discovery Business Insurance already offered a dedicated insurance product for smaller commercial vehicles, but has now added a product for heavy commercial vehicles.
“For some time we’ve had large trucking fleets come to us asking if we can help them get their drivers to drive better,” said Discovery Insure CEO, Anton Ossip.
Discovery Business Insurance has now taken its experience in fleet management, comprising over seven million minutes of driving data, and introduced a product to suit the heavy commercial vehicles’ industry.
“We tested our driver scoring model on a trucking environment on a test track and simulated dangerous manoeuvres that could appear on the roads,” said Ossip.
“We are confident that our Vitality Drive for Business programme can assist drivers of HCVs to become better drivers, and will introduce significant benefits to business owners in terms of costs and overall road safety for society.”
Key features of this product include a complete technology solution offered by the Vitality DriveView device, which provides a dual-camera system recording inside and outside the vehicle for enhanced safety and security for drivers and other road users. In addition, clients can save up to 40% of their vehicle premiums for driving well and being certified by Road Transport Management System.
Restaurant owners’ insurance
Discovery Business Insurance has offered tremendous value to restaurants since the onset of the COVID-19 pandemic, including 25% cash back on their non-motor premiums, providing them with financial assistance at a time when many restaurants have faced a cash-crunch.
Discovery Business Insurance’s new restaurant owners’ product takes this a step further, and provides tailored benefits such as business interruption cover following a physical loss event, cover for other business premises and for stock kept at multiple premises, as well as cyber and accidental damage cover for point-of-sale devices.
Healthcare professionals’ insurance
Discovery Health data shows that healthcare practitioners are transitioning to digital systems as a result of the changing nature of business accelerated by the onset of the COVID-19 pandemic.
Discovery Insure has therefore developed a healthcare practitioner insurance product that offers important benefits such as insurance against cyber-attacks and an upfront payment of a portion of the business interruption claim for earnings foregone from Discovery Health following an insured event.
The product also offers worldwide cover for the medical equipment of these healthcare professionals, as well as expert legal assistance to help them abide by the POPI Act.
Lawyers and accountants’ insurance
Lawyers and accountants have also increased their use of digital systems, and therefore need cover against cyber-attacks.
Additionally, lawyers and accountants get value adds at no additional premium such as cover against reputational risks, discounts on new laptop purchases, and preferential rates on the Lexis Sign platform.
“With these new products, we’re cementing our support for South African businesses at a time when they face immense challenges,” said Ossip.
Special offer to celebrate 10 years in business
Discovery Insure is celebrating its 10th birthday with a special offer for clients.
If you are a small or medium-sized business in South Africa operating in the professional and personal services, with an acceptable claims history, Discovery Business Insurance will beat your current premium if you join before the end of September 2021.