Guided by Ambition 2018
In 2014 we set an ambition for 2018 to be the best insurer in the world and a powerful force for social good.
This vision was created to develop stretch targets and ambitious goals for Discovery people. We continue to progress our own goals, and remain focussed on driving our strategy forward towards medium and long-term value creation. The plan is ambitious, but we are on track. Here is a breakdown of our progress at the end of 2016.
"Achieving our ambition will require each person in Discovery to take on a pioneer mentality, adopt focus, urgency and innovation in their area."
Scale and relevance
-
R10 billion in pre-tax earnings
Be the top-two provider in the markets where we operate
R6.4 billion
- All businesses are on track to be a top-two provider
Business model
- A unique business model delivering superior actuarial dynamics and a winning client position
- Lower mortality and morbidity rates
- Lower lapse rates
- Better selection
Financial excellence
-
20% to 25% growth in operating earnings
Return on capital of risk-free +10%
- 17% five-year compound annual growth rate (CAGR) in operating earnings
- Return on capital of 13% versus 17.5% in the prior year. The calendar year was impacted by the additional shares issued following the rights issue in April 2015
Social impact
- Reach 15 million members and make them healthier
6.9 million
- lives impacted
Global positioning
- International markets must contribute significantly to earnings (25% of total) and to the client footprint of the Group
- While not profitable yet, major investments in building The Global Vitality Network and a streamlined product offering for our Partner Markets have significantly boosted Discovery’s international position, profitability potential and client reach
Exceptional people
- Recognition as employer of choice for all critical skills
- Significant work has been done during the year to improve our employer value proposition
- Investment is made in strategies to attract and retain talent
- Discovery was announced as winner in two categories in the 2016 South African Graduate Employers Association Awards
Working towards the impossible feels like you are being drawn towards your goal, not pushed towards it.
Although we are heading towards our goal, now is the time to push even further to ensure that our ambition becomes a reality.
Focussing on social impact, scale and relevance and financial excellence, driven by extraordinary people, will see us defy gravity and leave our targets far behind.
Defy gravity
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Purpose and values
Business with a purpose
Our core purpose is to make people healthier and enhance and protect their lives. To achieve this, we have eight values that guide us towards gravity-defying delivery on a daily basis.
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Constant Motion
Constant Motion
This is so much more than a company - it's a way of working built on a culture of achieving the impossible. There’s an electricity in the air, driven by the commitment of a dynamic team that's truly motivated to find out "What's next?".
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Vitality Shared Value Insurance
A Shared Value Business Model
We use our understanding of behavioural economics to help people change the behaviour that most influences risk. In doing so, we create long-term value for the insurer, our clients and society.
Read more