Discovery Insure has become a dominant force in the South African market, and it is now expanding its horizons to the rest of the world.
“Since the beginning, the most important thing for us at Discovery Insure has been our core purpose of creating a nation of great drivers, and through our Shared-value insurance model, changing client behaviour and having a positive impact on society,” said Discovery Insure Deputy CEO Francois Theron.
This is why the insurer incentivises clients to drive well.
For example: there is a 40% lower fatality rate among South African drivers who have car insurance through Discovery Insure.
Discovery Insure has also provided its local customers with over a billion rand in fuel cash back, R25 million in Uber discounts, and R15 million in tyres from Tiger Wheel and Tyre.
Expanding the system
The Discovery Insure model of incentivising good driving behaviour was first extended outside of the Discovery client base to Avis in South Africa.
Avis SafeDrive is a partnership between Avis and Discovery Insure, and takes the model of rewarding great driving to the rental car industry. Car rental customers now have access to unique safety features and daily Active Rewards.
The Avis SafeDrive programme saw Avis rental vehicles incurring only a third of the damage that other rental vehicles suffered. By incentivising and rewarding good driving, clients become better drivers resulting in safer roads for everyone. The Avis SafeDrive programme has achieved amazing results with an 8% to 12% driving score improvement within seven days of rental.
“This showed us that our incentivised behaviour change programme is repeatable and can be expanded to other markets,” said Theron.
This global expansion for Discovery Insure started with taking the Avis SafeDrive programme to the Netherlands, where Avis clients were incentivised to improve their driving behaviour though the Vitality Drive programme.
Discovery Insure is committed to exporting its Vitality Drive insurance model globally.
Global expansion to Saudi Arabia and the UK
An example of this is the recent launch of a joint venture with Saudi Arabian insurer, Tawuniya.
Tawuniya was already a Vitality Health partner, so joining forces with Discovery Insure to provide its customers with incentive-based insurance products was a natural progression.
“From a business-culture point of view, the partnership makes complete sense,” said Theron.
“They are very innovative, and are the first insurer in the Middle East and North Africa region to incentivise their drivers to drive better.”
This partnership involves Discovery Insure working with Tawuniya to integrate the highly-successful Vitality Drive telematics programme that it originally developed for the South African market, into the Saudi Arabian context.
As part of this venture, Tawuniya Drive powered by Vitality has selected a fuel partner, a car wash partner, and a coffee partner to reward Tawuniya insurance customers who drive responsibly.
VitalityCar in the United Kingdom is another great example of Discovery Insure’s global expansion, with VitalityCar going live to the public this month. As part of this venture, Vitality UK is partnering with French insurer Covéa, which has a thorough understanding of the UK motor market, to implement Vitality Drive.
The product is fully supported by Discovery in terms of its backend and systems.
In total, Discovery’s Shared-value insurance model is active in 27 global markets and has nearly 9 million clients – with 220,000 clients being added monthly.
Says Theron: “As we embark on the next 10 years as Discovery Insure, I am confident that this is but the start of a successful journey in terms of the full potential we can offer and the number of lives we can save by expanding our model and creating nations of great drivers.”