The effects of the Covid-19 pandemic are still take their toll on the health of South Africans, according to data from Discovery.
Host Mudiwa Gavaza spoke to Gareth Friedlander, deputy CEO of Discovery Life.
Listen to the conversation:
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Discovery Life, the life insurance arm of the financial services group, paid out R11bn to clients in 2022 in claims linked to uncertain, life-altering events and shared-value benefits, according to the group’s annual claims review.
The discussion focuses on the figures and what they tell us about the health of ordinary South Africans, who collectively make up the SA economy.
The payouts comprised R9.1bn in individual life and group life claims and R1.9bn in PayBack and Cash Conversion payments. The lingering, residual effects of the Covid-19 pandemic were also evident in Discovery Life’s increased claims for living benefits, such as severe illness, capital disability and income protection when compared with 2021.
Friedlander explains what these statistics say about the health of SA consumers; dynamics around the type of claims being made; comparisons with the prior year; detailing if the effects of Covid-19 have completely disappeared; and an outlook for 2023.
Business Day Spotlight is a TimesLIVE production.
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