Discovery, is the leading company of South Africa's medical insurance company that has developed a very complete mobile app. You can log in to the Discovery mobile App to view the benefits you have-the benefits that have not been used, and the benefits that have been used. Note: The benefits of each insurance option may be slightly be different. If you have not downloaded the Discovery App, please check this link for steps: How to download the Discovery App If you have not registered yet, please click on the link :Registering for Discovery When you log in to the mobile app, you can see the following screen: 1. Click the menu in the upper left corner 2. Click on medical aid 3. Then select Your plan, then select benefit used 4. The following is an example of Different health insurance options as they may have different benefits. 0/1 means that there is an unused item, 1/1 means that there is a benefit that has been used. Some benefits may not be in line with you (for example: female clients cannot use "prostate examination") 5. You can also click "Medical aid Details" 6.Then click on your option, the arrow on the far right. 7. You will see this screen: You can choose the benefits you want to view. 8. The following takes "daily benefits" as an example If you have any other queries regarding your benefits please contact Namhla or Tammy in our Health department email; service@daberistic.com call (011) 658 1333.
This article is courtesy of Morningstar Investment Management, our Discretionary Investment Manager.
Based on our own experience and statistics, we have found that more clients enquire about Discovery Life than other life insurance company's products. This is interesting, as we are an independent practice, and we have contracts with no less than 7 life insurance companies:
- Discovery - Hollard - Liberty - Momentum - Old Mutual - PPS - Sanlam As an advisor, the process I go through is to first understand the client, his needs, then match the best product to his needs. Discovery Life does not necessarily meet client needs in every situation. So why do more clients ask me about Discovery Life? When we unpack the trend, I think there are a few things that draw clients to Discovery Life: 1. A client is a Discovery Health member. As Discovery Health is the largest open scheme in the country, with 55% market share, most of our clients are on Discovery Health. They are familiar with the company, and they trust the brand. Hence they ask for Discovery Life when they think about life insurance. 2. Discovery is an expert in marketing. Whether you like Discovery or not, they are a leader in marketing. From its early days, it has been very strong in marketing. You hear and see its advertising everywhere: Online, radio, TV, social media. And it does an excellent job, with beautiful graphics, interesting stories, partnering with sportspeople. In your face everywhere. 3. Discovery excels in mobile engagement. Discovery spends a lot of efforts and money in developing its mobile apps early on. It is a leader in mobile apps. I find myself logging in to Discovery app at least once a week, to check my Vitality Active Rewards, then maybe browse other sections. Discovery has made a lot of information and data easily accessible, at your fingertips literally. You don'g need to log into a website, you don't need a computer. You don't have to call a number. All you need is a phone. Yes all that information is kept secure. 4. Everything under one roof. As Discovery continues to expand its product range, and clients log into Discovery app regularly and see what else Discovery has to offer, they would think, "Why not get this product with Discovery as well, so I have everything in one place?" 5. Social influence. As more and more people become clients of Discovery, when their family and friends talk about life insurance, the name Discovery would come up somewhere in the discussion. 6. The profile of our clientele. As Daberistic focuses on the business owners and professionals market, they tend to be in the more affluent market. Discovery's market positioning speaks to their needs, image and aspirations. Discovery Life has many unique features and benefitsis. It is competitively priced if integrated with Discovery Health and Vitality. It has an attractive payback benefit. Now a Discovery Bank client can get further benefits with the Discovery Bank Integrator. While Discovery Life does have a strong value proposition, it is not for all clients. If a client is not on a medical aid administered by Discovery, does not like to exercise, does not pay attention to healthy living, does not want to spend time engaging with Vitality wellness programme, then he will find Discovery Life to be expensive. And it can become even more expensive over the long term. We profile South African professionals of Chinese descent, in the financial services sector. What's your name and age? Tian Pan, 32 What has been your experience?: • Willis Towers Watson (previously Towers Watson) – Investment Associate • Old Mutual Wealth & Investments SA – Investment Product Actuary • Current: Prescient Investment Management China – Head of Product and Business Development What do you do? Investment product development and distribution Your area of expertise? Investment product development and strategy What is your place of birth? Shanghai, China When did you immigrate to South Africa? What brought you here? There were a lot of tax incentives for Taiwanese investors in the early 90s to invest in the SA manufacturing industry. My father is an engineer and was hired by a group of investors to come to SA and help set up several manufacturing operations. Our family moved to SA then. Where did you study, and your qualifications? University of Cape Town – BBusSci Actuarial Science (Hons) Institute & Faculty of Actuaries (UK) – Fellow (FIA), Chartered Enterprise Risk Actuary (CERA) Why did you choose your line of studies? I was fighting against my parents’ wishes of studying medicine at the time. Being pretty strong at mathematics while hating accounting, I decided to try actuarial science. I didn’t really know what actuarial science was, just that it was very difficult to study. After getting into the studies, my interest in the investment areas grew a lot. How did you get into the financial services sector? I majored in finance and actuarial science in university. I also had a great interest for the investment markets, so it was natural to join the industry after graduation. What are your hobbies and interests in your spare time? I enjoy going to gym, playing badminton and squash. I also enjoy exploring different delicious cuisines along with travelling. How do you see the future of South Africa? I’m concerned about South Africa’s future. I believe the overall competitiveness of the country is consistently declining. Both government and SOEs are plagued by corruption which greatly affects the country’s fiscus. Unemployment and crime rates are high and no improvements are expected in the short term. Income inequality is also widening which I believe is a dangerous direction we are heading into. I believe that structural changes are needed within government and the country to change the medium term outlook for the SA economy, however this may be a long, painful and risky process. Even though changing and growing will be long and painful, I believe SA as a country has huge potential in the long term. What advice or encouragement do you have for university students who want to enter the financial services sector? I think the most important thing is to do what you love, do not do it because of the money because it will be tough to push through the lows when doing something you do not love. Then it would be to always have a learning attitude, to continue to learn and improve one’s own ability. This will not only help you improve consistently over time but also help you work happier in my opinion. Remember the survivourship bias and understand the hard work behind the scenes of someone successful in finance. Good luck! Tian Pan's LinkedIn profile: https://www.linkedin.com/in/tian-c-pan-68849821/ Naji Haddad is a life insurance agent, successful businessman, a proud MDRT member in Beirut, Lebanon. François du Toit interviewed him, he shared his life story of being positive, overcoming adversity and helping people. As people of Beirut deal with the aftermath of a powerful chemical explosion on 4 August 2020, his story touches many hearts. |
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January 2025
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