Discovery to offer a primary care option for about R350 a month.
Gore, a 57 year-old former actuary, started Discovery in 1992 focusing on private health insurance. The company has since expanded into banking, asset management, life insurance and casualty cover, and is valued at R108bn.
Discovery has been criticised regularly over its rising premiums, and a 2018 industry inquiry ruled the company contributed to an uncompetitive market by generating far higher profit than competitors. Dis-Chem Pharmacies Ltd. and digital bank Tyme this week launched insurance to tap into a wider and underserved segment of the population. Dis-Chem’s product starts at R431 a month and TymeHealth at R139, depending on what exactly a person gets covered.
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