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Discovery Limited Review 2022

Discovery Limited
Type Public
Traded as DSY
Founded in 1992
Products Insurance, asset management, medical aid administration, science-based well-being programs, debit and credit cards, investment products
Address 155 West Street,
PO Box 786722,
Sandton,
2146
South Africa
Phone 227 11 529 2888
Revenue R60 billiom
Total assets R180,2 billion
Website www.discovery.co.za

Discovery Limited is a South African financial services company based in Sandton. Multiple companies in the group deal with life and health insurance, banking, wellness programs, investments, and medical aid administration. Discovery life, health, Vitality, insure, life collective investment, and life investment services are all members.

All of the companies in this group are situated in South Africa. Other member companies can be found all around the world. The United Kingdom, the United States, Australia, Singapore, and China are among the countries with member corporations. Ping AN health, human health, VitalityHealth, VitalityLife, Vitality Corporate Services, AIA Vitality, and The Vitality group are all foreign members.

Discovery Limited reported R60 billion in sales and R180,2 billion in total assets. Since 2014, total assets have more than doubled in six years. The company is traded on the JSE under the symbol DSY.

A brief history of Discovery Limited

Adrian Gore, the CEO of Discovery Limited, launched the company in 1992. Adrian Gore founded Discovery as a small, specialized health insurance company. The goal was to get individuals to eat healthier and live a healthier lifestyle. Discovery Limited was promptly invested in by Rand Merchant Bank Holdings to help young Gore realize his aspirations. In 1999, Later Discovery Limited was successfully listed on the JSE. Since its inception, Discovery has achieved significant achievements.

Discovery Health, a business member, was the first to introduce the medical savings account. Discovery has since made investments in short-term and long-term insurance, as well as investments and savings. This is in order to broaden its operations and transition from a health-focused organization to a notable financial services supplier. Discovery employs technology in an intriguing manner.

Discovery members have been encouraged to drive safely thanks to the use of telematics technology. Other technological improvements include tracking customers’ spending habits on healthy foods and paying them for making healthy food selections. Discovery is now involved in social responsibility initiatives. More than R160 million in grants has been provided by the corporation for the education and training of healthcare specialists.

This was done through the Discovery Foundation in order to address the country’s scarcity of competent healthcare personnel.

Discovery limited services

Bank

Clients of Discovery Bank have three card options. Gold, platinum, and black account cheque cards are available. You can apply for a credit card with any of your Discovery bank accounts. Discovery credit cards, on the other hand, are subject to credit approval and evaluation. Purple cheque cards are only given to high-net-worth clients and cannot be applied for. A gold cheque account is a basic account with cheap monthly fees and bank costs.

The premium account is a professional’s mid-tier account that offers somewhat greater incentives than the gold account. The black cheque account is for high-earners who want more benefits than the platinum and gold accounts. All accounts include a savings account, referred to as a savings pocket. The Vitality rewards have been added to reward you anytime you transact.

Medical Aid

Discovery Health offers a variety of medical assistance plans. Medical aid can be used for personal care or for commercial purposes, such as insuring employees that they would be taken care of if they become ill. The hospital bill, access to medical specialists, pre and postnatal healthcare, travel insurance, chronic drug and disease insurance, and many other benefits are included in the plans. Medical aid programs vary in price, with some alternatives costing thousands of Rands.

Life insurance

Your loved ones and you are covered by Discovery life insurance. Through global education and kid protector, you may protect your child’s lifestyle and education. The US dollar life plan is another of the insurance company’s policies that pays for illness and disability payments in US dollars. You can also take out a life insurance policy to protect your company from unforeseen events. Your employer will be financially taken care of if you become incapacitated, ill, or die as a result of their life insurance claim.

Investments

Retirement investments can be made on a personal level or as a business to ensure the income of personnel after they retire. Retirement payouts can be made in two ways: as a lump sum payment or as annuities over a set length of time. You put money into savings and earn a nice rate of return each year. Savings can be useful in a variety of situations, including cashing out while unemployed, during a pandemic, and to pay for hospital bills, among others.

With the help of Discovery, you can invest offshore by having the institution uncover prospects for you. Buying international stocks, trading forex, investing in hedge funds, and many more options are available. Its investment platform is open to both individuals and businesses.

Car, home and business insurance

Discovery provides comprehensive personal and commercial insurance. Discovery also has one of the greatest vehicle insurance policies available. You can protect your automobile, home, and company with insurance. To obtain Discovery insurance, you must first obtain a quote from the provider, as an evaluation of your asset(s) will be required.

Discovery Vitality

Employees and people are rewarded for participating in healthy activities as part of the Vitality initiative. Vitality health members, according to Discovery Limited, live longer and are less likely to suffer lifestyle-related ailments. Employees can earn points with Vitality as they get healthier. They are encouraged to have a healthy lifestyle by exercising regularly, consuming nutritious foods, and having their health monitored on a regular basis.

You are rewarded for leading a healthy lifestyle with Vitality. You can get up to 100% back on healthy food, 50% back on healthyCare, and 50% back on life insurance premiums.

Conclusion

Employees and people are rewarded for participating in healthy activities as part of the Vitality initiative. Vitality health members, according to Discovery Limited, live longer and are less likely to suffer lifestyle-related ailments. Employees can earn points with Vitality as they get healthier. They are encouraged to have a healthy lifestyle by exercising regularly, consuming nutritious foods, and having their health monitored on a regular basis.

You are rewarded for leading a healthy lifestyle with Vitality. You can get up to 100% back on healthy food, 50% back on healthyCare, and 50% back on life insurance premiums.

Discovery Limited Review 2022

Staff Writer

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