How Discovery is leveraging AI for robust growth across its business segments

DISCOVERY delivered robust growth across both its operational composites Discovery South Africa and the global Vitality composite in the six months to December 31.

- EDWARD WEST

The medical aid, wellness and financial services group was well ahead of its five-year growth ambitions, with results reflecting its "shared-value" business model, supported by "disciplined" execution, "strong" actuarial dynamics and the "rapid" deployment of artificial intelligence (AI) across platforms, CEO Adrian Gore said Tuesday.

"Discovery delivered a strong performance. At the same time, we have made big advancements in evolving the Vitality Shared-value model, with the launch of Vitality AI, which is positioned to deliver demonstrable and quantifiable value. Work done to date enables us to execute with focused precision across each composite," Gore said in a statement.

Over the period, the group's embedded value increased 17.3% to R135,8 billion, a 17,3% return on embedded value (RoEV), driven by strong operational performance. Total new business API (annual premium income) increased 12%,

Discovery South Africa delivered 19% growth in normalised profit from operations, with every business contributing meaningfully.