Insurance Company Profile: Vitality, company profile provides a comprehensive review of Vitality and its UK business. This includes its structure, its performance in both the commercial and personal lines markets, as well as its marketing and distribution strategy.
Owned by Discovery Holdings, Vitality is a health and life insurer that has approached the UK market in an innovative way by utilizing wearable tech to offer policies to those consumers adopting a healthy lifestyle. Launched in 2015, the Vitality brands offer rewards to customers for meeting their individual health goals. This profile explores Vitality’s approach and offers a review of the company, its business structure and strategy, its financial performance, and a SWOT analysis.
Key Questions Answered
What are Vitality’s key differentiators?
What are Vitality’s strengths and weaknesses?
What opportunities and challenges does the company face going forward?
Discovery joined the UK market in 2007, in a joint venture with PruHealth and PruProject. In 2015 Discovery bought 100% of the shares and became VitalityHealth and VitalityLife. Collectively, VitalityHealth and VitalityLife cover close to 1 million lives.
Vitality’s success in using wearable technology to create sophisticated pricing structures based on a policy holder’s wellbeing is likely to pave the way for much greater use of wearable technology in the health insurance industry.
Reasons to buy
Learn about Vitality’s organizational structure and its core business segments.
Gain insight into the strengths, weaknesses, opportunities, and threats Vitality faces going forward.