A masterclass with Discovery Vitality.
Discovery Vitality is renowned for its innovative business approach, partnerships and for turning ideas on their head.
Dr Craig Nossel, head of Vitality Wellness at Discovery and former GIBS MBA alumnus, believes that “innovation can be learnt”. He believes innovation can be dissected using a simple 5 ‘P’s’ model – “purpose, people, product, process, and partners”. Innovation happens when you decide exactly “what you are solving for” he says. Discovery’s strong culture of innovation is built, he explains, on an unwavering upfront commitment to launching new products annually without fail, driving the business to never rest on its laurels.
Vitality’s structure, flexibility and innovative approach allows successful entry into new markets in spite of high barriers to entry for traditional financial service companies. They have leveraged the power of partnerships with established insurers in markets across the world, successfully rolling out the Vitality model into 19 countries. This has resulted in significant success, but of course there have been occasional failures as well. Craig will discuss the valuable lessons learnt from such failures. He will also talk about the value of partnerships and the important role they play in not only enabling, but driving innovation.
Using some of the Vitality’s case studies, this masterclass will help you drive and/or start a culture of innovation regardless of whether you’re are a young start-up or an established large corporate. You will gain insight into what drives and facilitates innovation at Discovery, as well as have an opportunity to hear from and engage with several of their partners. This masterclass will help you unpack what it means to have a ‘purpose’ for your organisation and the important role this, matched with the right people, plays in inspiring a culture of innovation.
At the end of this masterclass you will:
- Have a deep understanding of how to drive innovation in your business/ organisation/ department;
- Have a better understanding of some of the key challenges you may face when driving innovation within your own organisation;
- Have an in-depth understanding of the key principles Discovery uses to drive their innovation process;
- Have learnt valuable lessons from the success (and failures) at Vitality;
- Understand the 5P innovation model and how to utilise it to get your team working together to create innovative ideas; and
- Have worked on an exercise to help you understand the innovation process.