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Discovery Bank
- Thread starter zerocool2009
- Start date
ies87
Well-Known Member
- Joined
- Jul 3, 2019
- Messages
- 475
Diamond is just gold and claim free for 12 months, no?If you drive like grandma
I am on gold drive, think diamond is pretty hard last time i checked.
Query with them.I checked my account and see no credits
Recallza
Senior Member
- Joined
- Jun 22, 2018
- Messages
- 554
Also got this, was super confused as my fuel cashback wasn't even 2 weeks ago
Koosvanwyk
Expert Member
- Joined
- Aug 6, 2015
- Messages
- 1,046
To get to diamond your average points over 12 months need to exceed 1000 and claim free. So you don't have to be gold (> 1000 points) every month, just the average needs to exceed 1000 over a 12 month period
SaiyanZ
Executive Member
- Joined
- Jun 5, 2008
- Messages
- 8,136
Yeah it doesn't seem too difficult. I joined just over a month ago and have 1055 points for last month. You get 150 points for the Tiger Wheel and Tyre check and 100 points for the free online eye tests. So just need a driving score of 750 to hit 1000. My driving score last month was 780 as I was just figuring it out but this month I'm at 835. You also get an extra 25 points, 50 points and 200 points for being 1yr, 2yrs, or 3yrs claim free so it makes it easier to hit the 1000 points the longer you're with them.
I got another R150 yesterday.
amabacha
Well-Known Member
- Joined
- Oct 1, 2007
- Messages
- 356
Also received R150. Not clear for what period...
Dennis Andrews
New Member
- Joined
- Jan 24, 2020
- Messages
- 2
Don't forget to do the free Eye Gym (50 points a month for a year), the online driver's assessment (50 points /month) and the online driver's course (150 points/month) Together that is 250 points per month.
Koosvanwyk
Expert Member
- Joined
- Aug 6, 2015
- Messages
- 1,046
To average a 1000 points over a 12 month period should be achievable for most people if they try and adjust driving behaviours.
The system is however "stacked" against people who drive a lot (in KM terms) per month. Not only do you get almost zero points for the distance score, the likelihood of getting less points on the other measures also increases (by example, the more you drive the more the likelihood that you might have to break quickly because of a Taxi cutting you off, or some idiot cutting in front of you etc).
There are of course some ways to reduce you average distance teavelled per month (like moving closer to work or by having two vehicles under the same insurance policy with the same primary driver which effectively halves the average distance travelled), but these are mostly not practical.
The system also has some serious flaws, like
- applying a 60km/h threshold on the on/of ramps onto/ from a highway which is pretty dangerous
- not all rural roads are properly mapped, meaning the limit is 60km/h according to Discovery while the actaul speed limit is mostly 80km/h or 90km/h.
- it deducts points from the night driving score, when, by example, you park in front of / outside your garage whem you return home from work and the you park the car inside later that evening (this is prettt silly as it encourages you to rather leave the vehicle outside)
- it misreads the road that you are travelling on (passing under/over a bridge on a highway) and then applies the incorrect spread limit. I monitor this one closely and it happens often.
The more you drive the more you are screwed over by the flaws.
One can only assume they are taking "heat" the new Miles.
www.fin24.com
High stakes for Discovery Life as Vitality rewards change
42 minutes ago
Londiwe Buthelezi
Discovery’s life insurance business says the migration to the new Vitality Miles system will not affect premium discounts that its customers have become accustomed to.
While many Discovery clients were upset by the Vitality currency, saying it takes more miles to get the same rewards than previously, Discovery Life CEO, Hylton Kallner, says the only aspect that has changed is the weekly rewards.
But even there, said Kallner, the only change is that customers are no longer restricted to getting a smoothie or coffee, but they can redeem their rewards in various ways, including cash.
“The rewards points system had quite a lot of limitations. You could only use them for specific vouchers and they only lasted 12 week. The new system is trying to get our customers to put together all points they earn from any product into one currency. But it’s not changing the discounts,” said Kallner.
Why Vitality can’t get it wrong
The Discovery Life business heavily integrated with Vitality with over 80% of its customers also members of the reward programme. Discovery says that the more customers use Vitality, the lower their tendency to lapse their policies and they also claim less because of good health. For instance, the group’s latest integrated report showed that when people get to the highest Vitality status, chances of them cancelling their life cover drops by 70%.
A disruption in the functioning of Vitality puts the whole Discovery “shared-value model” at risk. This is one of the reasons why the group took offence with competitor, Liberty using people’s Vitality statuses to reward them under its own Wellness Bonus benefit. Discovery sued Liberty, alleging infringement of its intellectual property rights. The case is yet to be heard by the Johannesburg High Court.
“The Vitality system has an impact everywhere, from bringing down claims, improving persistency and generally on the health of our population,” said Kallner.
He attributed Discovery Life’s ability to double its share of new insurance sales in the past decade mainly to the Vitality integration. The insurer has grown its market share of new life business from 25% in 2016 to 31% at the end of September 2019.
“The two [life insurance business growth and Vitality] are complementary. You can’t de-link them,” said Kallner, adding that Vitality had become the engine of every business in the group.
Competing with new fintech disruptors
Kallner said changes Vitality is making, and the life businesses’ integration with the bank, were in fact aimed at helping Discovery Life gain even more market share. With the bank integration, Discovery Life insurer is moving away from just using people’s health results and their incomes to calculate their risk profile, and thus the premiums they pay beyond their health and income level to price their premiums.
High stakes for Discovery Life as Vitality rewards change | Business
The Discovery Life business heavily integrated with Vitality with over 80% of its customers also members of the reward programme.
www.fin24.com
High stakes for Discovery Life as Vitality rewards change
42 minutes ago
Londiwe Buthelezi
Discovery’s life insurance business says the migration to the new Vitality Miles system will not affect premium discounts that its customers have become accustomed to.
While many Discovery clients were upset by the Vitality currency, saying it takes more miles to get the same rewards than previously, Discovery Life CEO, Hylton Kallner, says the only aspect that has changed is the weekly rewards.
But even there, said Kallner, the only change is that customers are no longer restricted to getting a smoothie or coffee, but they can redeem their rewards in various ways, including cash.
“The rewards points system had quite a lot of limitations. You could only use them for specific vouchers and they only lasted 12 week. The new system is trying to get our customers to put together all points they earn from any product into one currency. But it’s not changing the discounts,” said Kallner.
Why Vitality can’t get it wrong
The Discovery Life business heavily integrated with Vitality with over 80% of its customers also members of the reward programme. Discovery says that the more customers use Vitality, the lower their tendency to lapse their policies and they also claim less because of good health. For instance, the group’s latest integrated report showed that when people get to the highest Vitality status, chances of them cancelling their life cover drops by 70%.
A disruption in the functioning of Vitality puts the whole Discovery “shared-value model” at risk. This is one of the reasons why the group took offence with competitor, Liberty using people’s Vitality statuses to reward them under its own Wellness Bonus benefit. Discovery sued Liberty, alleging infringement of its intellectual property rights. The case is yet to be heard by the Johannesburg High Court.
“The Vitality system has an impact everywhere, from bringing down claims, improving persistency and generally on the health of our population,” said Kallner.
He attributed Discovery Life’s ability to double its share of new insurance sales in the past decade mainly to the Vitality integration. The insurer has grown its market share of new life business from 25% in 2016 to 31% at the end of September 2019.
“The two [life insurance business growth and Vitality] are complementary. You can’t de-link them,” said Kallner, adding that Vitality had become the engine of every business in the group.
Competing with new fintech disruptors
Kallner said changes Vitality is making, and the life businesses’ integration with the bank, were in fact aimed at helping Discovery Life gain even more market share. With the bank integration, Discovery Life insurer is moving away from just using people’s health results and their incomes to calculate their risk profile, and thus the premiums they pay beyond their health and income level to price their premiums.
I just want to ask a few questions to the general public about the bank.
In order to complete the "healthy" banking reward you need to achieve 20 points per week. So in an ideal scenario that means swiping your card for exactly R50 - 20 times, totalling R1000.00 per week, to get the most "efficient" reward. (ok on second thought i see you can swipe for R20 - 40 times, totalling R800.00)
How is this a healthy banking practice? I am constantly finding myself spending money unnecessarily to try and get the points? Now i get that this is probably what the bank are looking for, as they want you to be spending money, but my question still remains, how is this a "healthy" banking practice? If anything, and i speak for myself here, this is an unhealthy process i now try to follow to get a tiny reward.
Surely swiping the card X amounts of times a week cant be the best thing Discovery could come up with?
In order to complete the "healthy" banking reward you need to achieve 20 points per week. So in an ideal scenario that means swiping your card for exactly R50 - 20 times, totalling R1000.00 per week, to get the most "efficient" reward. (ok on second thought i see you can swipe for R20 - 40 times, totalling R800.00)
How is this a healthy banking practice? I am constantly finding myself spending money unnecessarily to try and get the points? Now i get that this is probably what the bank are looking for, as they want you to be spending money, but my question still remains, how is this a "healthy" banking practice? If anything, and i speak for myself here, this is an unhealthy process i now try to follow to get a tiny reward.
Surely swiping the card X amounts of times a week cant be the best thing Discovery could come up with?
I feel Discovery will soon realise how stupid they are. All it is making me do is swipe multiple times instead of once. I find myself paying my Woolies store card off in R50 increments.
I shall adopt this tactic, thank you ;-)
ab12312390
Active Member
- Joined
- Sep 17, 2019
- Messages
- 69
I buy:
Prepaid electricity in multiple small units and breakdown my other municipal bills into small units.
Airtime in small units
Fuel my car multiple times, at least the petrol station is conveniently placed on my way to work
Breakup my grocery shopping