Powering Vitality UK’s Ambition to be an Insurance Brand that is Positively Different
Developing a technology enabled, comprehensive wellness ecosystem to promote living a healthy lifestyle
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Success story
Developing a technology enabled, comprehensive wellness ecosystem to promote living a healthy lifestyle
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Traditionally, selling health insurance does not offer too many opportunities for customer engagement. Post purchase, the interaction is usually limited to claims processing. And yet, one insurer has built an innovative, purpose-driven business model that is helping build deep relationships, support people in living heathier lives and become a beloved consumer brand.
Vitality, the wholly owned subsidiary of South African giant, Discovery, is a poster child of the immensely successful shared value business model. It engages with policyholders continually to incentivize preventive behaviors that promote wellness, and in the process, reduces costs and builds positive relationships between the business and its customers.
VitalityHealth actively promotes the adoption of healthy lifestyles by its members, incentivizing them to undertake regular activity through a generous rewards program that is redeemable across a curated partner ecosystem.
TCS has been its innovation partner in this transformation journey, helping build the enabling technology layer for this wellness-oriented insurance ecosystem. TCS consolidated and simplified its technology stack, modernized its policy administration system and integrated it with the Vitality rewards platform. A customer portal makes individuals aware of their risk factors and ways to improve their health, track their reward points and redeem them. The analytics layer provides a unified customer view across customer relationship, client onboarding, and policy servicing.
Vitality’s innovative model has resulted in deeper member engagement, driving revenue and profit. New business revenue grew 15%, and operating profit grew 22% in 2019. Best of all, it is also well on its way to realize its ambition to be an insurance brand that consumers will love. In five short years, Vitality is among the top five market leaders in the UK and enjoys a 50% prompted brand awareness.
“The Vitality Shared Value model is based on the concept of interventions that will inspire behavioral change among our members – benefiting the person, us as the insurer and also wider society. Technology is a critical strategic enabler in our model. Partnering with TCS significantly accelerated our transformation journey, helping us launch newer innovations faster, while delivering a consistent, integrated experience to our members.” - Kris Tokarzewski CTIO, Vitality UK
(This success story was featured in TCS’ 2019-20 annual report)