Discovery Insure 2012 Product updateFrancois Theron | COO Discovery Insure
Background to the launch of Discovery Insure                          1                                             2     ...
The Discovery Insure Product Platform                      State-of-the-art vehicle                       and passenger sa...
Discovery Insure: The year in review             Press coverage            Key metrics                                    ...
The Discovery Insure business cycle                                    Experience                                      rev...
The Discovery Insure business cycle                                    Experience                                      rev...
Vitalitydrive        is having a1   tangible impact    on client behaviour
Behaviour change manifests in three key areas    High engagement in driver                                                ...
Improvements      in driver behaviour are directly                correlated with2    fewer motor vehicle accidents       ...
Driver behaviour is directly correlated with accident risk                     Indexed loss ratios by Vitalitydrive status...
DQ-Track    facilitates a robust3                understanding         of the underlying causes of            motor vehicl...
South Africa’s roads are amongst the most dangerous      in the world                                                     ...
Unique insights into the causes of motor vehicle accidents  Drivers displaying risky driving behaviour 15        Type of r...
Measureable behaviours are directly correlated withaccident risk                        Relative accident risk, 2011 Insur...
Strong correlations          are emerging between4   driving behaviour       and other drivers of insurance risk
Cross-company analytics provide unique insights into the drivers ofinsurance risk    Case study 1: Wellness outcomes are d...
The core product    is providing5              high coverage             levels to clients
Discovery Insure claim payments reflect comprehensive productoffering     Discovery Insure claims payout ratios           ...
The Discovery Insure business cycle                    Young adults display high risk                              driving...
2012 Strategic product objectives 1     Restructure Vitalitydrive to simplify and enhance the benefits       Create target...
2012 Strategic product objectives 1     Restructure Vitalitydrive to simplify and enhance the benefits       Create target...
Increasing relevance of the fuel benefit construct                       Fuel price progression since the launch of Discov...
Analysing the different rewards structures available throughVitalitydrive    Composition of Vitalitydrive rewards       Co...
Factors informing the restructure of Vitalitydrive rewards                                               01          75%  ...
Clients can now get up to 50% of their BP fuel spend back                                                                 ...
Factors informing the restructure of Vitalitydrive rewards                                               01          75%  ...
The revised fuel rewards structure ensures that the maximumlevel of fuel rewards are available to all clients      2011 BP...
Factors informing the restructure of Vitalitydrive rewards                                               01          75%  ...
Vitalitydrive members automatically get up to 10% of theirpremiums paid into their EFA each monthPercentage of car insuran...
The Excess Funder Account Booster in action      Excess Funder Account balance for a client on Advanced status with a moto...
Factors informing the restructure of Vitalitydrive rewards                                               01          75%  ...
2012 Strategic product objectives                                                           50%       Restructure Vitality...
Young adults account for a disproportionately high frequency ofmotor vehicle accidents and accident related deaths        ...
The Discovery Insure Young Adult plan                        Up to 50% of                      their BP fuel spend        ...
The Young Adult plan in action                       01     25% of car premiums into                              Young Ad...
Young adults can earn unprecedented rewards with Discovery Insure                                                    Dan g...
2012 Strategic product objectives                                                              50%       Restructure Vital...
Cover enhancements effective 1 August 2012     Enhancements to cover,        Improved cover for accidental      Broader ra...
Marketing support: Plan Guide
2012 Strategic product objectives                                                              50%         10%       Restr...
The Discovery Insure business cycle                    Young adults display high risk                              driving...
2012 Marketing and client support       Leverage our breadth of data and analytic 1     capabilities to improve premium ef...
“Big data” can be used to generate significant financial value                                                         Glo...
Discovery Insure is uniquely positioned to understandinsurance risk                    VEHICLE                     CHECK
Select client pricing model          Select clients    automatically qualify for        a 5% discount in            premiu...
Select client qualifying criteria     Wellness engagement                               Socio-economic factors 1          ...
Select client pricing model          Select clients                           Dynamic behavioural                         ...
The impact of being a Discovery Insure Select client     Case study: Select client; R1 000 pm BP fuel spend; 1000 DQ Point...
2012 Marketing and client support       Leverage our breadth of data and analytic          Save up to 1     capabilities t...
SmartService is providing Insure clients with a uniqueservice experience                       New business               ...
FastTrack service from SmartClaims  FastTrack approved items will be replaced within 24 hours in Gauteng or               ...
NightDriver from Discovery Insure        NightDriver– providing Vitalitydrive members access to a        network of accred...
2012 Marketing and client support       Leverage our breadth of data and analytic          Save up to 1     capabilities t...
The Discovery Insure product platform generatesunprecedented value for clients  The case study of Dave, his wife Linda, an...
The Discovery Insure and Vitalitydrive product platform generatesunprecedented value for Dave and his family              ...
The Discovery Insure and Vitalitydrive product platform generatesunprecedented value for Dave and his family              ...
SmartQuote from Discovery Insure
2012 Marketing and client support                                                          Save up to       Leverage our b...
The Discovery Insure business cycle                           Young adults display high risk                              ...
Discovery Insure 2012 Update
Discovery
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Discovery

  1. 1. Discovery Insure 2012 Product updateFrancois Theron | COO Discovery Insure
  2. 2. Background to the launch of Discovery Insure 1 2 3 Mainstream emergence of The relevance of Discovery’s Rising and volatile fuel price telematics technology as a behavioural economics negatively impacting cost of premium rating factor experience to short-term vehicle ownership insurance Fuel price Oil price Causes of motor vehicle accidents R 12 160 140 R 10 Road Inappropriate 120 Cornering conditions driving R8 100 8% R6 80 60 R4Braking Acceleration 34% 49% 40 R2 20 R0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 9% Pedestrian Vehicle Actual f uel price (Rands) Actual oil price (US dollars) Cornering related safety Understand and reward good Ability to positively impact road Mechanism to incentivise driver behaviour safety positive behavioral change
  3. 3. The Discovery Insure Product Platform State-of-the-art vehicle and passenger safety ImpactAlert™: Stolen vehicle Vehicle Protector™: Family Protector™: Pro-active recovery at no Tools to improve Additional family emergency additional cost vehicle safety safety features response Comprehensive motor insurance Fuel rewards Get 50% of fuel spend back each month, Or 100% of fuel spend to fund Flexible policy excess The better you drive, options for the higher your status, the greater your household Driver Quotient™ rewards measures driver and No excess on HomeProtector™: burglary, Security and performance personal hijacking, emergency cover storm or fire accommodation 4
  4. 4. Discovery Insure: The year in review Press coverage Key metrics 311 100 fuel transactions 7.7m ℓitres of fuel purchased at BP 20 100 drivers tracked in real time with DQ-Track R3.25 bn vehicles comprehensively insured 132 million kilometres of behavioural data R7.93 bn comprehensively insured household and personal cover
  5. 5. The Discovery Insure business cycle Experience review Marketing and client Product support enhancements
  6. 6. The Discovery Insure business cycle Experience review Marketing and client Product support enhancements
  7. 7. Vitalitydrive is having a1 tangible impact on client behaviour
  8. 8. Behaviour change manifests in three key areas High engagement in driver Substantial shift in day-to-day Demonstrable changes in driver awareness and vehicle safety consumer choices behaviour activitiesTiger Wheel and Tyre MultiPoint checks BP market share analysis Indexed Driver Performance Scores (Month 1 = 100)8000 1187000 77% 116 1146000 1125000 1104000 1083000 1062000 104 20%1000 102 0 100 Jun-11 Oct-11 Aug-11 Feb-12 Apr-12 Dec-11 BP National market BP national Proportion of petrol Month Month Month Month Month share market share spend at BP for 1 2 3 4 5 Vitalitydrive clients VitalityDrive clients Over 7 000 MultiPoint checks 17% improvement in 77% of fuel spend at BP outlets completed Driver Performance Scores
  9. 9. Improvements in driver behaviour are directly correlated with2 fewer motor vehicle accidents and lower insurance costs
  10. 10. Driver behaviour is directly correlated with accident risk Indexed loss ratios by Vitalitydrive status (Base = 100%)100% 100%90%80%70% 74%60%50% 54%40%30% 31%20%10% 0% Base Neutral Engaged Advanced
  11. 11. DQ-Track facilitates a robust3 understanding of the underlying causes of motor vehicle accidents
  12. 12. South Africa’s roads are amongst the most dangerous in the world Road fatalities per capita (per 100 000 inhabitants p.a.) UK 3.59 India 11.1 USA 12.3 China 16.5 Russia 18.5 Brazil 19.9 South Africa 33.2 South Africa’s fatality rate is significantly higher than other BRIC countries, with Broader societal costs associatedfatalities per year are substantial 14 000 road with road accidentsSource: List of OECD countries by traffic-related death rate
  13. 13. Unique insights into the causes of motor vehicle accidents Drivers displaying risky driving behaviour 15 Type of risky behaviour displayed prior to an minutes or less prior to a serious accident accident No 53% 39% 37% 32% 16% 5% Yes Late night Braking Speeding Accelerating Cornering 61% driving Note: Drivers can have more than one type of risky event prior to an accident
  14. 14. Measureable behaviours are directly correlated withaccident risk Relative accident risk, 2011 Insure data 9.7 9.7 1.3 1.4 1.4 0.8 0.8 Morning Lunch time Early evening Late night There is a ten times higher likelihood of having a motor vehicle accident at night
  15. 15. Strong correlations are emerging between4 driving behaviour and other drivers of insurance risk
  16. 16. Cross-company analytics provide unique insights into the drivers ofinsurance risk Case study 1: Wellness outcomes are directly Case study 2: Credit risk is directly correlated with driving behaviour correlated with driving behaviour Percentage of healthy* drivers by Vitalitydrive status Credit default rates by Vitalitydrive status 10% 10% 82% 8% 67% 48% 37% 4% 1% Base Neutral Engaged Advanced Base Neutral Engaged Advanced*Note: Healthy is defined as being on Gold or Diamond Vitality status P(Credit default) is the probability of being 3 months in arrears or worse at least once during a year
  17. 17. The core product is providing5 high coverage levels to clients
  18. 18. Discovery Insure claim payments reflect comprehensive productoffering Discovery Insure claims payout ratios Analysis of repudiated claims Other No cover Repudiated 9% 44% 2% Unlicensed driver 9% Pre-existing damage Approved 16% Fraud 98% 22%
  19. 19. The Discovery Insure business cycle Young adults display high risk driving behaviours Unique client data provides strong Vitalitydrive engagement predictor of insurance risk lowers accident risk 98% benefit coverage ratios 2 3 4 Rewards change client behaviour 1 5 Experience review Marketing and client Product support enhancements
  20. 20. 2012 Strategic product objectives 1 Restructure Vitalitydrive to simplify and enhance the benefits Create targeted incentives to drive a step change in 2 road safety for young adult drivers 3 Enhance coverage levels across the product
  21. 21. 2012 Strategic product objectives 1 Restructure Vitalitydrive to simplify and enhance the benefits Create targeted incentives to drive a step change in 2 road safety for young adult drivers 3 Enhance coverage levels across the product
  22. 22. Increasing relevance of the fuel benefit construct Fuel price progression since the launch of Discovery Insure (Rand per litre) R11.67 Discovery Insure launchR 12.60R 12.20 R10.23R 11.80R 11.40R 11.00R 10.60 R8.45R 10.20 R 9.80 R 9.40 R 9.00 R 8.60 R 8.20 R 7.80 R 7.40 R 7.00 Nov-10 Nov-11 Jan-10 Mar-10 Sep-10 Jan-11 Mar-11 Sep-11 Jan-12 Mar-12 May-11 Feb-10 May-10 Feb-11 Feb-12 May-12 Apr-11 Apr-10 Jun-10 Jun-11 Apr-12 Jun-12 Jul-10 Aug-10 Dec-10 Jul-11 Aug-11 Dec-11 Oct-10 Oct-11 Gauteng Prices (Pricing Zone 9C), 95-Octane unleaded
  23. 23. Analysing the different rewards structures available throughVitalitydrive Composition of Vitalitydrive rewards Composition of Vitalitydrive fuel rewards Travel Rewards at DiscoveryCard other stations 3% 4% 22% Rewards at Fuel BP stations 75% 96%
  24. 24. Factors informing the restructure of Vitalitydrive rewards 01 75% 75% of Vitalitydrive Boost BP fuel cash rewards in fuel back 96% 96% of all fuel rewards earned at BP 1 in 3 More than 1 in 3 Insure clients do not have a DiscoveryCard Excess Funder Account R4m balances 20% + Experience on supported policies Risk- Registrar guidelines to based remove ‘non-risk’ reward travel and card rewards
  25. 25. Clients can now get up to 50% of their BP fuel spend back INSURE YOUR CAR AND HOME AND ACTIVATE You get 20% 50% Cash back on your BP fuel spend every month You automatically get 20% Complete and pass the Tiger cash back on your monthly BP Wheel & Tyre Annual MultiPoint Boost your Excess Funder fuel spend check Account and double your fuel rewards to 100%Note: Your monthly fuel rewards are based on your number of DQ Points earned
  26. 26. Factors informing the restructure of Vitalitydrive rewards 01 75% 75% of Vitalitydrive Boost BP fuel cash rewards in fuel back 96% 96% of all fuel rewards earned at BP 1 in 3 More than 1 in 3 02 Insure clients do not Ensure maximum level have a DiscoveryCard of fuel reward is available to all clients Excess Funder Account R4m balances 20% + Experience on supported policies Risk- Registrar guidelines to based remove ‘non-risk’ reward travel and card rewards
  27. 27. The revised fuel rewards structure ensures that the maximumlevel of fuel rewards are available to all clients 2011 BP fuel rewards structure 2012 BP fuel rewards structure Payment MultiPoint MultiPoint Automatic Policy type Automatic mechanism check check Other 10% 25% Car only 10% 25% DiscoveryCard 15% 40% Car and home 20% 50%
  28. 28. Factors informing the restructure of Vitalitydrive rewards 01 75% 75% of Vitalitydrive Boost BP fuel cash rewards in fuel back 96% 96% of all fuel rewards earned at BP 1 in 3 More than 1 in 3 02 Insure clients do not Ensure maximum level have a DiscoveryCard of fuel reward is available to all clients Excess Funder Account R4m balances 20% + Experience on supported policies 03 Embed an Excess Risk- Registrar guidelines to Funder Account in all based remove ‘non-risk’ reward Vitalitydrive policies travel and card rewards
  29. 29. Vitalitydrive members automatically get up to 10% of theirpremiums paid into their EFA each monthPercentage of car insurance premium paid into the Excess Funder Account every month 10% Advanced 5% Engaged 2.5% Neutral 0% Base status
  30. 30. The Excess Funder Account Booster in action Excess Funder Account balance for a client on Advanced status with a motor premium of R750 per month and R400 monthly fuel rewards R19,200 R28,800 R38,400 R48,000 R9,600 Excess Funder Account Booster Plan R 4 500 excess R 3 600 Embedded Excess Funder R 2 700 Account R 1 800 R 900 End Year 1 1 End Year 2 2 End Year 3 3 End Year 4 4 End Year 5 5 Access 50% of the fund after three years Opportunity for clients to build real long term insurance equity
  31. 31. Factors informing the restructure of Vitalitydrive rewards 01 75% 75% of Vitalitydrive Boost BP fuel rewards in fuel cash back 96% 96% of all fuel rewards earned at BP 1 in 3 More than 1 in 3 02 Insure clients do not Maximum fuel rewards have a DiscoveryCard available to all clients with supported policies Excess Funder Account R4m balances 20% + Experience on supported policies 03 10% Excess Funder Embedded Excess Risk- Registrar guidelines to Account based remove ‘non-risk’ Funder Account reward travel and card rewards
  32. 32. 2012 Strategic product objectives 50% Restructure Vitalitydrive to simplify and enhance Excess 1 the benefits Funder Account Create targeted incentives to drive a step change 2 in road safety for young adult drivers 3 Enhance coverage levels across the product
  33. 33. Young adults account for a disproportionately high frequency ofmotor vehicle accidents and accident related deaths Motor vehicle accidents account for 75% of Over 90% of young adults drive late at night young adult deaths Proportion of young adults driving late Proportion of young adult deaths by cause at night, 2012 survey Drive during the day Natural 8% 25% Motor vehicle accidents Drive late at night 75% 92%
  34. 34. The Discovery Insure Young Adult plan Up to 50% of their BP fuel spend 25% of car back in cash premiums into the Young Adult Rewards Fund MONTHLY BOOSTER • Up to R200 per month paid into Rewards Fund based on Vitalitydrive status NightDriver gives discounted home drive • Reduced by R10 per km services and preserves the driven between 23:00 and Rewards Fund balance 04:30
  35. 35. The Young Adult plan in action 01 25% of car premiums into Young Adult Rewards 02 Regular feedback to Fund improve your driving 03 Boost your Fund by driving well Drive Well Base - R 200 Neutral R0 Engaged R 50 Advanced R 20004 or NightDriver gives you access to RoadTrip or SmartGuyz at a For every kilometre substantial discount you drive between 23:00 and 04:30, R10 is deducted from the Fund 23:00 05 Every six months, you can withdraw the available 04:30 money in the FundNote: Extensive night driving will result in a premium increase after six months
  36. 36. Young adults can earn unprecedented rewards with Discovery Insure Dan gains R1 200 from his fuel benefits Dan gains R2 670 overall from the Young Adult plan over 6 months Cumulative fuel rewards R 1 200 R 1 000 Profile R 800 • Name: Dan R 600 • Age: 22 R 400 R 200 Driving experience over 6 month period R0 • Fuel spend: R 800 per month 1 2 3 4 5 6 • Car premium: R 680 per month (no home insurance) + • Driver status: Month Dan gains R1 470 from his Rewards Fund • Engaged for 2 months • Advanced for 4 months Rewards fund after 6 months • Night driving: 45 kms R 2 000 R 1 500 R 1 000 R 500 R0 25% of Vitality status Night time Cumulative premiums booster driving value
  37. 37. 2012 Strategic product objectives 50% Restructure Vitalitydrive to simplify and enhance Excess 1 the benefits Funder Account 25% Create targeted incentives to drive a step change in 2 road safety for young adult drivers 3 Enhance coverage levels across the product
  38. 38. Cover enhancements effective 1 August 2012 Enhancements to cover, Improved cover for accidental Broader range of cover for removed restrictions on use of damage, goods in open and unspecified items car and extended territorial cover for goods away from home limitsEnhancements to liability cover Liability cover introduced for Caravan contents included in all and offroad use sailboats and jet skis risk cover
  39. 39. Marketing support: Plan Guide
  40. 40. 2012 Strategic product objectives 50% 10% Restructure Vitalitydrive to simplify and enhance Excess 1 the benefits Funder Account 25% Create targeted incentives to drive a step change in 2 road safety for young adult drivers 3 Enhance coverage levels across the product
  41. 41. The Discovery Insure business cycle Young adults display high risk driving behaviours Unique client data provides strong Vitalitydrive engagement predictor of insurance risk lowers accident risk 98% benefit coverage ratios 2 3 4 Rewards change client behaviour 1 5 Experience review 50% Up to 50% of BP fuel spend back Marketing 10% and client Product Excess Funder Up to 10% of Account support enhancements premium paid into your Excess Funder 25% Account Up to 25% of car premium paid into Young Adult Rewards Fund Benefit enhancements in each area of cover
  42. 42. 2012 Marketing and client support Leverage our breadth of data and analytic 1 capabilities to improve premium efficiency for Select clients Focus on areas to enhance the service experience 2 for clients and advisers 3 Digitalise the advice and new business process
  43. 43. “Big data” can be used to generate significant financial value Global personal US health care location data • >$100 billion revenue for service • $300 billion value per year providers • ~0.7% annual productivity growth • Up to $700 billion value to end users US retail Manufacturing • >60% increase in net margin • Up to 50% decrease in product development, assembly costs possible • 0.5–1% annual productivity growth • Up to 7% reduction in working capitalSource: McKinsey Global Institute analysis
  44. 44. Discovery Insure is uniquely positioned to understandinsurance risk VEHICLE CHECK
  45. 45. Select client pricing model Select clients automatically qualify for a 5% discount in premium Save 5%on premiums
  46. 46. Select client qualifying criteria Wellness engagement Socio-economic factors 1 2 Vitality status: Silver, Gold or Diamond DiscoveryCard: Gold Discovery Life plan of or Platinum R3 million or more OR Silver AND Gold Diamond 100 000 clients automatically qualify for 5% premium discount
  47. 47. Select client pricing model Select clients Dynamic behavioural Select clients can save as automatically qualify for algorithm assesses risk much as 25% on their a 5% discount in profiles across multiple premiums premium variables Discovery Vitality Wellness choices Save Save up to Credit risk profile and 5% DiscoveryCard retail behaviour 25%on premiums Benefit choices and on premiums Discovery Life risk attitudes Discovery Invest Risk attitudes Automatically applied during quoting process
  48. 48. The impact of being a Discovery Insure Select client Case study: Select client; R1 000 pm BP fuel spend; 1000 DQ Points; ADVANCED Car insurance premium: R1500R 2,500R 2,000 Net R 2,000 R2,000 R500 R 500 R1 150 savingR 1,500 R 300 R500 R150R 1,000 R 1,125 R850 R 500 R0 Discovery Insure premium Select discount Fuel rewards Excess Funder Effective premium
  49. 49. 2012 Marketing and client support Leverage our breadth of data and analytic Save up to 1 capabilities to improve premium efficiency for 25% on premiums Select clients Focus on areas to enhance the service experience 2 for clients and advisers 3 Digitalise the advice and new business process
  50. 50. SmartService is providing Insure clients with a uniqueservice experience New business • Over 16 000 plans already activated • 84% of new business applications are finalised within 4 hours • 96% of underwriting is completed within 4 hours DQ-Track installations • Over 20 000 installations completed by our experienced technicians • Focus on client experience: currently rated at 9 out of 10 • Continue to see a positive trend Rewards • Over R8 million paid out in Vitalitydrive rewards • Over R4 million held in Excess Funder Account balances Benefits and services • Over R60 million paid out in claims • 76% of stolen vehicles recovered by DQ-Track
  51. 51. FastTrack service from SmartClaims FastTrack approved items will be replaced within 24 hours in Gauteng or 48 hours in other large metropolitan areas Laptops GPS devices E-readers Tablets Smartphones Cameras MP3 player FastTrack Claims Promise If we fail to deliver on our promise, we will waive the excess on your claim
  52. 52. NightDriver from Discovery Insure NightDriver– providing Vitalitydrive members access to a network of accredited home drive services Use SmartGuyz services without a Subscribe to RoadTrip or SmartGuyz subscription • Subscribe and receive a • Contact SmartGuyz and pay a flat discounted monthly fee based on fee of R100 – first 10km included Vitalitydrive status • Normal tariffs apply thereafter • Allocated number of kilometres per month - charged thereafter OR • No registration necessary – SmartGuyz will verify Vitalitydrive • Discounts up to 25% based on membership Vitalitydrive status NightDriver is available in the larger metropolitan areas
  53. 53. 2012 Marketing and client support Leverage our breadth of data and analytic Save up to 1 capabilities to improve premium efficiency for 25% on premiums Select clients Focus on areas to enhance the service experience 2 for clients and advisers 3 Digitalise the advice and new business process
  54. 54. The Discovery Insure product platform generatesunprecedented value for clients The case study of Dave, his wife Linda, and his son Dan illustrates the key benefits Home insurance Dave’s car R530 premium R1 300 premium R1 000 Fuel spend 800 DQ Points for six months Dan’s car Linda’s car R680 premium; R750 premium Young Adult plan; R1 000 Fuel spend R1 000 Fuel spend; 1000 DQ Points for 800 DQ Points two months; six months 1000 DQ Points four months; 45km of nighttime driving Dave’s total insurance premium: R 3 407 per month
  55. 55. The Discovery Insure and Vitalitydrive product platform generatesunprecedented value for Dave and his family Premium compared to cumulative rewards in 6 months of Dave’s premiums paid 47% out in cash rewards R 20 442 10% 25% R 16 400 Excess Funder Account R 8 200 R 840 R 1 470 Premium Cash rewards Excess Funder Account Young Adult Cash fuel Embedded Excess Rewards Fund rewards Funder Account
  56. 56. The Discovery Insure and Vitalitydrive product platform generatesunprecedented value for Dave and his family Premium compared to cumulative rewards in 6 months of Dave’s premiums 84% paid into his Excess Funder Account 100% BOOSTER R 20 442 R 16 400 R 8 200 R 1 470 Premium Cash rewards Excess Funder Account Young Adult Cash fuel Embedded Excess Excess Funder Rewards Fund rewards Funder Account Account Booster
  57. 57. SmartQuote from Discovery Insure
  58. 58. 2012 Marketing and client support Save up to Leverage our breadth of data and analytic 1 capabilities to improve premium efficiency for 25% on premiums Select clients Focus on areas to enhance the service experience 2 for clients and advisers 3 Digitalise the advice and new business process
  59. 59. The Discovery Insure business cycle Young adults display high risk driving behaviours Unique client data provides strong Vitalitydrive engagement predictor of insurance risk lowers accident risk 98% benefit coverage ratios 2 3 4 Rewards change client behaviour 1 5 Experience review 50% Up to 50% of BP Digital advice SMART QUOTE fuel spend backprocess for Insure advisers Marketing 10% and client Product Excess Funder Up to 10% of Account support enhancements premium paid into FAST FastTrack replaces TRACK your Excess Funderportable possessions 25% Account within 48hours Up to 25% of car Save up to premium paid into Young Select clients get up to 25% on premiums Adult Rewards Fund 25% off their premiums Benefit enhancements in each area of cover
  60. 60. Discovery Insure 2012 Update

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