Discovery, SA’s largest health-insurance administrator, has been named as the world’s second-strongest insurance brand.
Every year, leading valuation and strategy consultancy Brand Finance values the world’s biggest brands.
The 100 most valuable insurance brands in the world are included in the Brand Finance Insurance 100 2019 report.
Brand Finance’s Brand Strength Index, the world’s leading independent brand valuation consultancy, named China’s Pin An as the world’s strongest insurance brand with its brand value up 93% to $50.5 billion.
Discovery is a new entrant to this year’s Brand Finance Insurance 100 2019, scoring an impressive brand strength index (BSI) score of 85.97 out of 100, making it the world’s second strongest insurance brand.
Discovery is South Africa’s largest health-insurance administrator and has seen major success through its Vitality rewards scheme which awards points for completing various online health assessments and routine medical checks.
The brand has also launched a Discovery Bank.
“What is the purpose of a strong brand: to attract customers, to build loyalty, to
motivate staff? All true, but for a commercial brand at least, the first answer must
always be ‘to make money’,” asked David Haigh, CEO, Brand Finance.
Discovery provides administration and managed care services to over 3.3 million beneficiaries.
It has a market share of over 40% in the overall medical scheme market in South Africa.
The administrator also and manages 18 restricted medical schemes on behalf of leading corporate clients, as well as Discovery Health Medical Scheme, South Africa’s largest open medical scheme.