Mumbai, 4th August, 2020: Reliance General Insurance, a 100% subsidiary of Reliance Capital, has announced their association with National Payment Corporation of India (NPCI), launching a platform for making insurance premium payments digitally through Bharat Bill Payment System. This facility allows a customer to renew their policies by paying insurance premium at a click (Anywhere, anytime) through multiple channels such as Internet Banking, Mobile Banking/app, Website, Agent, BCs (Business Correspondents) and Branches using multiple modes such as Cards (Credit, Debit and Prepaid), NEFT, Net Banking, UPI, Account transfer & e-wallets etc.
This initiative enables a customer to “control” and “execute” the insurance premium payment via any customer facing electronic/mobile channel irrespective of bank or payment app. Customers will also be able to access a larger network of Bharat BillPay enabled physical touch points across India which includes bank branches, business correspondents and retail agents.
Additional benefits to customers will include convenience, 24*7 availability, easy fetch and instant notifications with Be-Assured stamp for policy renewals. Consumer can look for the Bharat BillPay logo on any of the app/website and can easily do all insurance renewals.
Commenting on this development, Rakesh Jain, ED & CEO, Reliance General Insurance said, “Reliance General Insurance has always strived to ensure that we innovate in line and with the times that the brave new Digital Bharat lives in. This association with Bharat Bill Payment System is yet another milestone in our journey towards being best-in-class for our customers, while endorsing Vocal for Local using state-of-the-art digital systems provided by haloed institutions such as the NPCI.”
On the collaboration A.R.Ramesh, Chief of Bharat Bill Payment System, NPCI said, “We are happy to associate with Reliance General Insurance through Infibeam Avenues on the Bharat BillPay ecosystem. Customers will now have enhanced channel access and ease of paying recurring Insurance premium anytime anywhere through their preferred digital platforms or physical touch-points”.
The integration with Bharat BillPay enabled-channels is yet another step for Reliance General Insurance’s customer-centric approach towards providing insurance covers to the masses digitally. In today’s unprecedented times when COVID-19 is ravaging the world, the company is making every effort to mitigate the financial burden on the people due to the crisis.
About Reliance General Insurance
Reliance General Insurance, a part of Reliance Capital, is one of the leading general insurance companies of India.
The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and Home Insurance, and offers customized solutions to meet the protection needs of each customer.
Reliance General Insurance has a wide network of more than 40,000 intermediaries across 136 branch offices across India for offering its products and services to retail, corporates and SME clients.