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Discovery partners to create new health insurance brand

May 24 2017 13:43

Johannesburg - Shareholders of Discovery were informed on Wednesday that its partners AIA Australia and GMHBA are partnering through a joint venture to create a new health insurance brand called myOwn.

The joint venture will offer consumers health and life insurance bundled with the wellness program AIA Vitality, in the Australian market.

This new health insurance venture through myOwn is an important step in AIA Australia delivering on its vision to help champion the cause of making Australia the healthiest and most protected nation in the world, according to Discovery.

MyOwn will be available for customers later this year and will offer health insurance with the AIA Vitality wellbeing programme. As part of this joint venture, GMHBA will also offer AIA Vitality to its members.

“Discovery is pleased to join with AIA Australia and GMHBA to bring this innovative health and life insurance offer to Australians to foster happier, healthier lives," said Vitality Group CEO Barry Swartzberg in a statement.

"In South Africa, where we have combined Vitality with health and life insurance products for many years, Vitality members have shown vast interest and improvement in understanding their health and how to address health risks. \

"Over many years, we have seen that those engaged in Vitality have fewer and shorter hospital stays, and their overall healthcare costs are lower. The rewards are powerful for members and society.

"We look forward to seeing how these benefits manifest as myOwn grows and helps its members take steps to lead healthier lives.”

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