Vitality launches new Value Statement as it hands out £63 million worth of rewards
Vitality has launched new half-yearly Value Statements for its one million members to demonstrate the extra value and rewards they receive for leading a healthy lifestyle.
The Value Statement will be issued to both VitalityHealth and VitalityLife customers, including those on a corporate plan. The new initiative comes as the health and life insurer reveals it provided members with £63 million of additional value over the course of 12 months*. Further internal Vitality data shows that 50% of engaged members have saved more than half of their annual premium and a quarter saved more than their entire premium through the company’s rewards programme.
Vitality provides members with access to a range of benefits and rewards even when they are not claiming. Vitality’s Active Rewards programme incentivises healthy behaviour by providing immediate rewards for members such as weekly Starbucks coffees and cinema tickets, or reducing the cost of an Apple Watch. Vitality points can be earned by exercising at member gyms, or walking, running or cycling while using a linked activity tracking device as well as by buying healthy food or completing various health checks. In the longer term, as members improve their Vitality status through earning points, the company rewards them with discounts including up to 40% on British Airways return flights in Europe and up to 50% off Eurostar tickets.
Members can view the following on their Value Statements:
• The date range for the savings (normally from the start of the plan up until the date the statement is produced)
• The total number of Vitality points earned in the current plan year
• Their Vitality status
• Total amount saved in the period
• A link to log into member zone
• Links to blog and social media content
Nick Read, Commercial Director at Vitality, said: “Our core purpose is to encourage people to live healthier lives and we reward them for doing so. We’re delighted to launch the Vitality Value Statement which will help demonstrate to our one million members the additional value and rewards they are gaining through their healthy lifestyle choices. By demonstrating the incredible value they are getting back, we hope it will further encourage our members to live healthy lives and continue receiving rewards through our range of best-in-class partners.”
*From Vitality’s most recent financial year, July 2016 to June 2017