PruProtection
PruProtection is the joint venture between Discovery and UK insurer, Prudential plc. Through PruHealth we offer health insurance to the UK market, and protection products through PruProtect.
In May 2010, Discovery entered into an agreement with Standard Life Group to acquire Standard Life Healthcare, the UK’s fourth-largest private medical insurer. This agreement boosted Discovery’s shareholding in the joint venture to 75%.
PruHealth
We launched PruHealth in the UK market in October 2004 in response to a growing need for consumer-directed private medical insurance products. It leverages Discovery’s consumer-directed health assurance and operational infrastructure and Prudential’s strength as an established financial services brand in the UK.
We quickly made an impact in this market with PruHealth receiving several industry recognition awards. It was voted the Most Trusted PMI Provider at the 2009 Moneywise Awards and the Best PMI Provider at the Moneyfacts Awards from 2007 to 2009. The acquisition of Standard Life Healthcare will increase PruHealth’s position and foothold in the UK private health insurance market.
PruProtect
PruProtect uses Discovery Life’s product methods to offer UK consumers the same consumer-engaged pure-risk assurance products that are available to their counterparts in South Africa.
It leverages Discovery Life’s product and servicing platform with Prudential’s record of accomplishment and brand credibility in the UK to take advantage of the significant opportunities in the UK’s largely stagnant and commoditised life assurance market. Through Vitality, PruProtect offers consumers competitive pricing and value-added benefits.
