Launching a global investment solution on a tight deadline

Discovery Introduces a Global Endowment Plan With FIS Policy Administration Suite

April 01, 2024

At a glance


Meet the complex operational requirements of a global endowment plan, handle multicurrency pricing and tax calculations for offshore investments, and support a flexible product structure within regulatory constraints.

FIS Solutions

FIS® Policy Administration Suite


Enhanced customer retention and market share with the launch of an innovative tax-efficient investment vehicle.


In just three months, FIS helped Discovery launch its new international investment vehicle with the ability to:

  • Improve operational efficiencies
  • Offer flexible and tax-efficient policies for investors
  • Create new business opportunities and increase market share

Founded in South Africa but also operating across the U.S., Asia and Europe, Discovery provides a range of innovative financial services and assurance products that integrate with its trend-setting wellness program, Vitality.

Discovery has used Policy Administration Suite since 2007 to support its local investment solution, Discovery Invest, helping it become South Africa’s fastest-growing unit trust company. Policy Administration Suite also administers the group’s risk policies for life and disability, and the complementary investment products are cross-sold to this client base.

The challenge

In 2020, Discovery sought the help of its trusted partner FIS to launch Discovery Invest International, a revolutionary global endowment plan. Discovery set an ambitious launch deadline and needed to resolve a complex set of operational challenges, including managing multicurrency portfolios, automating offshore pricing, minimizing capital gains taxes and complying with regulatory restrictions for withdrawals.

The solution

The Policy Administration Suite supporting the company’s local investment solution was also the right choice for going global.

Fast functionality

The flexible digital architecture of Policy Administration Suite makes it easy to configure rules quickly for any line of business.

New multicontract capabilities

Policy Administration Suite was enhanced to support the creation of 100 contracts per endowment plan so that investors can make multiple withdrawals from the plan, even in the first five years.

The impact

In just three months, ahead of the client’s schedule, FIS helped Discovery launch its new international investment vehicle.

Operational efficiencies

In Policy Administration Suite, Discovery now has a single solution for managing premiums in multiple currencies, handling capital gains tax on a U.S. dollar basis and converting capital gains tax from South African rand to U.S. dollars for existing businesses.

Flexible policies

Investors in the new global plan can now access flexible and tax-efficient policies in multiple currencies, with a multicontract structure that allows for greater investment liquidity. After five years, investors can also convert a newly launched local endowment plan to offshore endowments at an enhanced exchange rate.

New business opportunities

A successful, timely launch with Policy Administration Suite has given Discovery increased market share and made global investment opportunities more accessible than ever.

Manage premiums in multiple currencies

Increased Discovery’s market share

“As our long-term technology partner with a proven policy administration solution, FIS was the natural choice to help us meet the complex operational requirements of a global investment product.”
Lance Geyser, chief operating officer, Discovery
“FIS delivered a high-quality service that surpassed our expectations, with flawless execution of development and testing.”
Lance Geyser, chief operating officer, Discovery
“Having played a major role in the success of our local shared-value investment product, FIS Policy Administration Suite helped us strengthen our international offering and add real value for both financial advisors and investors.”
Lance Geyser, chief operating officer, Discovery
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