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Discovery partners with Sumitomo Life, SoftBank on shared value insurance in Japan

South Africa's Discovery Ltd. has forged a strategic partnership withJapan's Sumitomo Life InsuranceCo. and SoftBank Corp. to offer shared value insurance to theJapanese market.

Under the partnership, the companies will jointly developand offer insurance products incorporated with Discovery's behavioral wellnessprogram, Vitality, which incentivizes policyholders to manage their wellness,according to a July 21 release.

Discovery, Sumitomo Life and SoftBank will commence productdevelopment immediately, pending approval from the relevant authorities.

In addition, the companies plan to jointly create a platformto collect health related data and wellness activities by leveraging thedigital partnership between Sumitomo Life and SoftBank.