Which medical scheme has the most satisfied members?
Survey compares Bestmed, Bonitas, Discovery, Medihelp and the Government Employees Medical Scheme.
Discovery
Vastly different financial results from Discovery’s insurance arms
Discovery’s long-term and short-term insurance arms delivered contrasting performances in the group’s 2022 financial year, with Discovery Life’s normalised operating profit surging by 200% and Discovery Insure’s tanking 165%, driven mainly by the […]
‘Raids don’t mean all the insurers are guilty’
Conducting raids on the premises of the eight life insurers under investigation by the Competition Commission for alleged collusion and price-fixing did not mean that all of them were guilty, Fin24 reports Commissioner […]
Information from ‘an industry player’ prompted Competition Commission’s investigation into life insurers
Information received “from one of the players in the industry” prompted the Competition Commission to launch its investigation into alleged price fixing by some of the country’s major life insurers. This was all […]
Discovery’s new DFM aims to capitalise on offshore investment opportunities
Discovery Group this week announced the launch of its discretionary fund manager (DFM), Cogence, which will give financial advisers access to portfolio analytics and risk analysis tools developed by the world’s largest asset […]
Momentum and Sanlam the only major life insurers to grow new business above pre-Covid levels, says PwC
Momentum Metropolitan Holdings (MMH) and Sanlam are the only major life insurers in South Africa to have grown the value of their new business relative to pre-Covid levels, according to PwC. PwC based […]
NHI is necessary and morally correct, says Gore
Discovery chief executive Adrian Gore has told Business Day that the proposed National Health Insurance (NHI) system is “a moral imperative” for the country that he supports fully, although he said it would […]
Fifth wave could hit SA in April or May
A fifth wave of Covid-19 could hit South Africa in April or May, but Discovery thinks it is unlikely that it will be more severe than previous waves, says group’s chief executive, Adrian […]
Compulsory vaccination increasingly likely
Making vaccination compulsory to enter workplaces and certain public spaces seems a certainty if the statements from the government, business and labour this week are anything to go by. In a televised address […]
Blow to cheaper primary health care – Discovery prevented from expanding approved services
Cheaper primary health insurance plans, which offer less cover than traditional medical scheme packages, require an exemption from the Medical Schemes Act by the CMS. In a recent ruling by the appeal board […]
What is the predominant reason for death claims? – Discovery Life’s claims data provides answers
Discovery Life’s 2018 claims data has revealed that unnatural causes continue to be the predominant reason for death claims, among people under the age of 30. Last year, the leading causes of unnatural […]
Fraudulent Medical claims amount to billions
Legalbrief Today reported on a statement by Discovery Health’s CEO, Dr Jonathan Broomberg, that fraud in the medical schemes industry is estimated to cost SA between R8.22bn and R43.2bn. One of the latest […]
Simplified Advice
It has long been my contention that, unlike the socks I buy at Woollies, there are few products which can satisfy clients’ needs with a “one-size-fits-all” approach, particularly in the financial services industry. […]
