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Discovery wins twice at the Qorus Innovation in Insurance Awards 2024

Discovery wins twice at the Qorus Innovation in Insurance Awards 2024
12-06-24 / Tommy Jackson

Discovery wins twice at the Qorus Innovation in Insurance Awards 2024

Johannesburg - Discovery has claimed two top accolades at this year's Qorus Innovation in Insurance Awards, at a ceremony in Lisbon showcasing the best insurance innovations across the globe.

Discovery took the title in the Global Innovator category, which recognises overall world leaders in insurance innovation, and won the Connected Ecosystems and Marketplaces category, for the new Discovery Health App and Health Ecosystem – a centralised digital hub for all healthcare needs.

The global awards competition attracted more than 280 entries from 44 countries, with applicants ranging from new start-ups to the world's largest financial institutions. Winners were selected across seven categories through a peer-based voting process combined with a panel of judges from leading global financial firms. Criteria that the judges considered included originality; strategic capacity to generate a long-term competitive edge and return on investment; and adaptability for use in other markets and countries.

Global Innovator Award

Discovery was named Global Innovator 2024 for its ongoing dedication to innovation, as part of its commitment to becoming a future-ready company, and delivering world-class experiences to its customers, advisers, and employees. Ping An (China) and Chubb (USA) were silver and bronze runners-up, respectively.

Discovery Founder and Chief Executive, Adrian Gore, accepted the award on behalf of Discovery Limited, saying: "We are incredibly proud to be a recipient of this award. Innovation is a critical facet of business and drives progress and economic growth. At Discovery we've been on a multi-decade journey of understanding how to incentivise people to change behaviour and become healthier, and in the process, offer them better financial services products. When people are healthier, we are more profitable, so we are completely aligned to our customers. We are now focusing on hyper-personalising what we do, tailoring health pathways to offer people a healthier and better life. We are excited about the future and our ability to make a difference."

Discovery's pioneering Shared-value Insurance model, underpinned by Vitality, has been scaled to over 40 markets touching the lives of more than 40 million members. Its mechanism of guiding and rewarding better health behaviours has been adopted by leading insurers around the world, assisting them in amplifying their impact and supporting Discovery's core purpose of making people healthier.

Connected Ecosystems and Marketplaces Award

Discovery also received the Connected Ecosystems and Marketplaces Gold award for its Health App and Ecosystem. Ana Endres, Chief Digital Officer at Discovery Health, accepted the award, saying: "In today's fast-paced world, the need for accessible, efficient, and comprehensive healthcare solutions has never been greater. The Discovery Health App and ecosystem embodies our dedication to creating a customer-centric platform that simplifies healthcare navigation, making it more accessible and efficient for everyone."

Discovery's new Health App is a cutting-edge healthcare platform that delivers comprehensive healthcare services to members, allowing them to manage their medical aid plans, find providers, submit claims, and track their Vitality Active Rewards. It also offers in-app access to a range of innovative services including virtual consultations, online pharmacy services, and digital access to electronic health records. Additionally, the app facilitates interactions between members and providers, booking wellness assessments, and e-scripting with medicine delivery. It also provides direct access to a curated selection of third-party ecosystem tools and offerings such as digital therapeutics and connected medical devices, enhancing the overall healthcare experience for members.

Reflecting on the entries and winners, Qorus CEO, John Berry, said: "Since their inception in 2017, the Awards have played a critical role at the centre of industry innovation by recognising and rewarding the best and brightest ideas so others can learn and grow. The insurance sector is facing ongoing and complex disruption, but despite this, continues to show remarkable resilience. This year's submissions offer rich inspiration, illustrating how insurers are broadening and diversifying their products and services to tackle disruption head-on and exceed customer needs; investing in digital innovations; creating new ecosystems and marketplaces, and championing the sustainability imperative."

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