Discovery gets moving on its banking ambitions
DISCOVERY, the health-insurance administrator that has sold nine out of every 10 Apple watches in SA to encourage its members to exercise, has hired a team of bankers as it steps up efforts to create a new lender."We’re flat out with the infrastructure and the regulatory process for banking," co-founder and CEO Adrian Gore said in an interview last week."We’ve got the capital, we’ve hired bankers, we’re building substantial systems. We want to make an offering that’s relevant and can win market share."Gore started Discovery as a private health insurer in 1992 and has since expanded into investments, credit cards, life insurance and property and casualty cover. With partnerships across the US, China, Europe, Singapore and Australia, Discovery has access to a network of more than 200-million customers it can tap for its Vitality loyalty programme, which offers discounts to people who keep fit and eat healthily in a bid to lower claims against its policies.Exercise regimesDiscovery off...
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