Driving Innovation: Introducing a shared value insurance model for better insurance deals
Discovery Insure, a South African financial services leader, envisioned redefining its offering with an innovative shared value insurance model, seeking to streamline risk assessment while influencing customer behavior positively.
The shared value model bases insurance offerings on actual client behaviors, like driving habits, rather than traditional risk assumptions. This approach paves the way for personalized insurance deals, leading to cost savings and a better customer experience.
After Discovery Insure launched its shared value insurance app with advanced tracking features, it decided to market the solution to other insurers.