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IGI Life Insurance launches IGI Life Vitality to help Pakistan’s people become healthier

02-08-2019 08:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IGI Life Insurance

Karachi - 2019: IGI Life Insurance and Vitality Group, a subsidiary of Discovery Limited, today announced the launch of IGI Life Vitality, a first-of-its kind Shared-Value Insurance offering in Pakistan.

Vitality Group’s Vitality Shared-Value Insurance model, applied by major insurers globally, incorporates Vitality, a scientifically-validated health promotion program, into insurance. The program provides participants with the knowledge, tools and the motivation to improve their health using a digital app and wearable devices. When linked to insurance, it becomes a powerful mechanism for a differentiated insurance offering.

Syed Hyder Ali, CEO of IGI Life Insurance, said, “We are very excited about the launch of IGI Life Vitality in Pakistan because it reflects our strong commitment to not only be a leader in our industry, but to also to be at the forefront in addressing a societal issue to help people live healthier and better lives. IGI Life Vitality is a game-changer for the insurance industry in Pakistan and a win-win for everyone: for our customers, for the entire community, for our partners and for IGI Life.”

On applying the Vitality Shared-Value Insurance model globally, Barry Swartzberg, CEO of Vitality Group, said, “Vitality is a powerful behavior-change platform, which is now helping to improve the health of more than 8.9 million people in 19 markets. Today, we are excited to extend that reach even further as we introduce IGI Life Vitality to Pakistan. Maintaining the integrity of our core Vitality offering, we aim to introduce a tailored program in partnership with IGI Life Insurance that will enhance their insurance offering to help make the Pakistani population healthier by incentivizing healthy behavior and to change the way people experience insurance.”

The partnership between Vitality Group and IGI Life Insurance, initially announced on December 26th 2017, integrates health and wellness tools and rewards with IGI Life insurance products.

Vitality is based on three main pillars – know your health, improve your health and enjoy the rewards. Customers who participate in IGI Life Vitality will first complete the IGI Life Vitality Health Review to determine their “Vitality Age”, an indicator of overall health risks. Their “Vitality Age” may be higher or lower than their actual age based on their overall health.

Customers receive a set of clearly defined personal health goals, which they meet by engaging in a broad range of healthy activities. These include running, walking and other forms of exercise recorded with a wearable device, or having medical and other health checks. They will earn “Vitality points” for successfully completing each recorded activity. The more points they earn, the higher their Vitality status and the greater the rewards. For these rewards, IGI Life Vitality has teamed up with Foodpanda, easytickets and Samsung to offer discounts on Foodpanda orders, movie ticket purchases and Samsung wearable devices.

About Vitality
Vitality is a leading behaviour change platform which uses the power of incentives, data and behavioural economics to make people healthier and enhance and protect their lives. Vitality has achieved global scale through successful partnerships with leading insurers and the most forward-thinking employers around the world. More than 8.9 million people in 19 countries engage in the Vitality programme. The Vitality Group is responsible for the global expansion of the Vitality Shared-Value Insurance model using the capabilities of Discovery and its network. Vitality was founded 20 years ago by Discovery Limited – a leading financial services company listed on the Johannesburg Stock Exchange. For more information, please visit www.vitalitygroup.com.

About IGI Life Insurance (A Packages Group Company)
IGI Life Insurance Limited has marked the entry of IGI Financial Services (Part of Packages Group) into the Life Insurance arena through acquisition of controlling shares in American Life Insurance Company (Pakistan) Limited in April 2014. Acquisition by Packages Group makes IGI Life one of a kind life insurance provider in Pakistan as IGI Life’s multinational heritage is now coupled with the experience of Packages group which is one of the most reputed business conglomerates having several joint ventures with leading global brands in the FMCG, Pharmaceutical and Packaging sectors. IGI Life’s current product suite includes Life Insurance plans, Accident & Health Insurance, Employee Benefit Solutions and Takaful products. Please visit: www.igilife.com.pk

IGI Life Insurance, 7th Floor, The Forum, Clifton Block 9, Karachi, Pakistan

IGI Life Vitality
Bilal Rashid
Head of Marketing
Bilal.rashid@igi.com.pk

Vitality Group
Lindsay Hartmann
Reputation Manager
Lindsayf@discovery.co.za

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