WEALTH WATCH
STEPHEN CRANSTON: BrightRock and Discovery are able to tap into what people need
In Roman times bread and circuses were the instruments to keep the ordinary man in check. The new post-millennial equivalent is burgers and airtime. Discovery Business Insurance aims to be the truck driver’s friend. It still offers Vida lattes and Kauai smoothies. But to really get into this market it has brought in that health food colossus Wimpy as a partner, plus all four cellphone companies (including Telkom). Let’s hope they don’t use the airtime while they’re driving. Discovery is taking on some excellent businesses, such as Santam and Hollard, in this space — a far cry from previous competitors such as a badly run medical aid industry. It is extending many of the themes it has in place in personal lines insurance. Discovery Insure boss Anton Ossip says the business reward is based on the average Vitality Drive for Business score. Each truck is installed with a DQ-Track device, which gives full access to driving information. Then up to 30% of the cost of insuring the vehicle c...
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