Health and life insurer Vitality is partnering with a range of well-known brands in order to bolster the ‘rewards’ available to members.
New partners include American Express, Waitrose, travel firms Virgin Atlantic and Expedia as well as Caffe Nero.
This is the first time that Vitality has teamed up with another financial services provider. This new cashback credit card will only available to Vitality members and will offer the opportunity to earn higher cashback rates to those who are more physically active and hold more than one Vitality product.
Elsewhere Vitality said the various benefits available through its other new partners were designed to encourage and rewards members who led more active, healthy lives.
Vitality chief executive Neville Koopowitz points out that recent research by the company, in conjunction with RAND Europe demonstrated the economic impact of physical inactivity. It also found that that partnerships with companies like Apple Watch helped encourage people to increase activity levels by up to 34 per cent.
He adds: “Health and wellbeing sit at the very core of our business. We have seen the power of incentives in driving positive behaviour change.
“Working with American Express, Waitrose and these new partners, we are further embedding this behavioural economic model, driving and incentivising people to be more active.”
He adds: “Our strategy of offering richer benefits to those members who hold multiple Vitality products, means we can deliver more value to those who are physically active.”
These benefits will fall under its new “Vitality Pink” option — a new set of boosted benefits especially for Vitality members holding both health and life insurance products.
Koopowitz says these new partners reaffirm Vitality’s ‘shared value’ insurance model, which uses the power of incentives, data and behavioural economics to make people healthier, creating value for the individual, insurers, and society at large.
Members can earn up to 40 per cent cashback via these scheme on food purchased from Waitrose’s Good Health range. The exact level of cashback will depend on the level of physical activity that has been “unlocked” in the previous month.
Members who earn 12 activity point a week, will also be able to claim a free coffee, or other hot drink, from Caffè Nero.
Meanwhile, there will also be 15 per cent discounts off Virgin Atlantic flights and up to 20 per cent off Expedia hotel bookings. Again the exact discount will depend on a person’s plan, Vitality ‘status’ and engagement with the rewards programme.