VitalityLife is the fastest growing insurance provider in the United Kingdom. Originally branded as PruProtect (a joint venture with Prudential Group), Discovery Life Group bought a majority ownership in 2010 and changed its name to VitalityLife.
Unlike traditional insurers who underwrite policies based solely on your age and health status, VitalityLife employs a different approach where it offers incentives for you to live more healthily. Specifically, Vitality rewards an active life style and then actuarially and clinically determines the effect of this engagement on your mortality, morbidity and likely health risks. VitalityLife then prices these effects dynamically into the insurance premium over time thus lowering the cost for those who embrace a healthy lifestyle.
Essentially, the healthier you get, the more Vitality lowers your premium whilst simultaneously rewarding you. It is a virtuous circle that is good for the customer, good for Vitality, and good for society as a whole.
Even more impressive is the fact that Vitality Life has signed up more than 5.5 million members to its reward program, which has pioneered change in the UK life insurance market.
According to Discovery CEO Adrian Gore, “Discovery’s increased investment in the UK has always been part of our longer-term strategy. It will afford us the opportunity to realise our vision to further entrench our insurance model and to be recognised as the best protection provider in the UK. Being highly receptive to the needs of our clients, and highly engaged with them, mean that we are well placed to achieve our goal of substantially improving the health of two million people in the UK by 2020.”