{"id":469104,"date":"2021-02-18T14:55:20","date_gmt":"2021-02-18T12:55:20","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=469104"},"modified":"2021-02-18T14:55:20","modified_gmt":"2021-02-18T12:55:20","slug":"discovery-insure-has-rewarded-clients-with-r1-billion-in-fuel-cash-back","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/469104\/discovery-insure-has-rewarded-clients-with-r1-billion-in-fuel-cash-back\/","title":{"rendered":"Discovery Insure has rewarded clients with R1 billion in fuel cash back"},"content":{"rendered":"

Through its driver rewards programme, Vitality Drive<\/strong><\/a>, Discovery Insure<\/strong><\/a> has been able to provide clients with significant and real value.<\/p>\n

As of December 2020, Discovery Insure has rewarded it\u2019s growing Vitality Drive client base with a total of R1 billion<\/strong> in fuel cash back. This is equivalent to approximately 66 million litres of fuel.<\/p>\n

Clients can earn up to 50% of their monthly fuel spend back by driving well with Vitality Drive. The better clients drive, the higher their fuel cash back and the lower their road accident risk.<\/p>\n

This accumulation of earned cash back demonstrates the success of Discovery Insure\u2019s Shared-value Insurance model in the short-term insurance industry, as it proves to be a valuable incentive for driver improvement. In turn, driver improvement contributes to reducing the collective frequency and severity of road accidents across South Africa.<\/p>\n

\u201cWhen clients remain consistently engaged in the programme, driver fatality risk reduces significantly,\u201d says Precious Nduli, Discovery Insure: Head of Technical Marketing and Vitality Drive Engagement.<\/p>\n

\u201cClients who have a Vitality Drive Sensor installed in their vehicles improve their driving behaviour, on average, by 15% during the first month it is used. Thanks to the data we obtain about our clients\u2019 driving habits, we have gained valuable insights and have found that our best drivers have 39% fewer and 44% less severe accidents than drivers who are less engaged in the programme.<\/p>\n

This leads to cost savings of up to 54% for us,\u201d Nduli adds. \u201cAnd with those savings, we are able to provide our clients with additional value in the form of rewards and cash back.\u201d<\/p>\n

\u201cClients who insure with Discovery Insure benefit from a holistic product offering with comprehensive insurance for every life-stage and lifestyle, bespoke optional features to tailor insurance to their specific needs and compelling rewards for good driving through Vitality Drive. To date, our clients entrust us with insuring over R375 billion in assets<\/strong> and over 269 000 cars<\/strong>.\u201d adds Discovery<\/p>\n

Insure Chief Executive, Anton Ossip. \u201cThanks to this, Discovery Insure has seen a consistently growing client base which allowed us to reach the milestone of R5 billion in-force Annual Premium Income<\/strong> in September 2020.<\/p>\n

\u201cKey to our growth and success during the past nine years really has been the Shared-Value Insurance model. Discovery Insure and the Vitality Drive programme<\/strong><\/a> is underpinned by the use of powerful rewards and incentives, state-of-the-art technology and big data; as well as our innovation culture.\u201d<\/p>\n

\u201cThe success of this insurance model has enabled us to extend our business to commercial insurance, the car rental business, CSI programmes, as well as exciting international opportunities,\u201d Ossip adds further.<\/p>\n

\u201cSince the very beginning, we\u2019ve wanted to do things differently in the short-term insurance world: we wanted to make people safer; we wanted to be more proactive about risk rather than reactive; we wanted to create a journey that our customers would enjoy, and reduce the frustrations that short-term insurance is quite synonymous with.\u201d<\/p>\n

\u201cLayered onto that, we wanted to develop a driving programme that rewards clients for playing their role in making South African roads safer \u2013 and day by day, we continue to improve our Vitality<\/p>\n

Drive programme as we strive towards achieving one of our ultimate ambition: Creating a nation of great drivers. Our latest achievements and milestones certainly demonstrate that our efforts, as well as those of our clients, are on the right road,\u201d he concludes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Real value can come from unexpected places – like your insurance. Through its driver rewards programme, Vitality Drive, Discovery Insure has given immeasurable value back to its clients.<\/p>\n","protected":false},"author":57,"featured_media":469106,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[13149],"class_list":["post-469104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-discovery-insure"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/469104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=469104"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/469104\/revisions"}],"predecessor-version":[{"id":469112,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/469104\/revisions\/469112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/469106"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=469104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=469104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=469104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}