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TymeBank and Dis-Chem both enter health insurance market

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Both groups aim to bring ‘affordable, quality’ private healthcare to consumers. Moneyweb privatehealthcare SouthAfrica

Two new players, with broad distribution and affordable propositions, are looking to disrupt the traditional health insurance market in South Africa. This will have traditional medical aids looking over their shoulders, particularly the six largest – Discovery , Bonitas, Momentum, Medihelp, Bestmed and Fedhealth – which together hold 89% of the open medical scheme market.

Dr Reinder Nauta, executive chair of National HealthCare Group, which provides products to the low-income and emerging segments of the market, says TymeHealth has “unlocked considerable potential in what has previously been unchartered territory”. Read: TymeBank eyes breakeven [in 2022], Discovery Bank in 2024 Tencent invests in TymeBank To apply for TymeHealth, one needs to be a TymeBank customer .

 

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