Discovery Life paid clients R10.5 billion in 2023
Despite commendable figures, there has been a slight decline compared to previous years.
Picture: © scukrov/123rf.com
Clarence Ford interviews Gareth Friedlander, Deputy CEO of Discovery Life.
Listen below.
Last week, Discovery Life unveiled its 2023 claims experience, revealing a total payout of R10.5 billion to clients.
During the year, claims amounting to R8.4 billion were disbursed across Group Risk and Individual Life policies.
Additionally, R2.1 billion in Shared-Value Benefits were distributed, rewarding clients for prudent health and financial management, bringing the total payout to over R10 billion.
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"They're living exceptionally longer; much lower death rates amongst clients who are taking steps to be healthy."
- Gareth Friedlander, Deputy CEO – Discovery Life
Discovery observed positive trends in early detection of severe illnesses, attributed to increased health screenings, alongside a significant decline in COVID-19 claims.
Emphasising the significance of comprehensive coverage, they noted that payouts for living benefits surpassed those for mortality claims.
Despite commendable figures, Friedlander acknowledges a slight decline compared to previous years, attributing it solely to the pandemic.
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Scroll up to the audio player to listen to the interview.