Categories: gareth friedlander

Discovery Life making strides in closing the insurance gap

Discovery Life making strides in closing the insurance gap

There are multiple trends that compound to create a more complex financial planning environment for women. Because of persistent socio-economic inequality, women face a large insurance gap. With this context in mind, Discovery Life has built life insurance products which specifically cater to these challenges and risks.

Gareth Friedlander, Head of Research and Development at Discovery Life

Millennials face a demonstrable insurance gap of R15 trillion

South Africa’s young adults could bridge the growing life and disability insurance gap by diverting a fraction of their monthly lifestyle expenditure to financial services products. The largest insurance gap is currently presented by millennials between the age of 18 and 30 coupled by high levels of indebtedness and low savings.

Gareth Friedlander, head of Research and Development for Discovery Life

The state of health in South Africa according to Discovery Life’s claim experience 2016

Discovery Life published insights of its life assurance claims from January 2016 to December 2016. A total of 20 247 claims were paid over the period, amounting to R3.2 billion. This brings the total amount that Discovery Life has paid out to date up to R18.7 billion.

Head of Research and Development, Gareth Friedlander

​Discovery Life highlights the state of health in South Africa from its claims statistics

Discovery Life published details of its life assurance claims from January 2015 to December 2015. A total of 19 591 claims were paid over the period, amounting to R2.8 billion. Unnatural deaths accounted for 21% of all claims in 2015.As many as 60% of Discovery Life claimants were older than 50 in the same period...