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Vaccination Max PayBack

Discovery Life
South Africa
Social, Sustainable & Responsible

Elevator pitch

In a global first, the Vaccination Max PayBack guarantees clients up to 100% of their first year’s premiums back in cash when they are fully vaccinated against COVID-19 to aid South Africa’s vaccination program, leveraging the Shared-value model to return up to R182 million in premiums at the end of the first policy year, and enhance our underwriting capabilities in the process.

Innovation Presentation

Considering our commitment to get clients vaccinated against COVID-19 and improving health outcomes for all, Discovery Life became the first insurer globally to incentivise vaccination through product design. By getting vaccinated against COVID-19, clients guaranteed their maximum applicable premium PayBack of up to 100% of their first year’s premiums. Resulting upfront vaccination questions have allowed us to improve underwriting and risk management.

For no additional premium, the unique PayBack benefit embodies Shared-value by returning a portion of premiums in cash. Value is created and shared when clients actively manage their health, as measured through engagement with other Discovery products, such as the Vitality wellness program…

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