Non-life insurer United India Insurance Company Ltd is set to activate premium payments through mobile phones.
“We will be the first insurance company to launch the mobile phone premium payment facility in the country. This will be in continuation with our other customer-friendly initiatives like online sourcing of policies, and online portals for motor dealers, agents for buying policies,” said G Srinivasan, chairman and managing director, United India Insurance.
He said they would also look at settling claims through this payment channel. “Most of our payments are now in electronic form,” he said.
The company has around 20 million policyholders and a sizeable number of them can opt for the mobile payment channel. Standard Chartered Bank will offer cash management services for United India, he said.
The company would focus on retail and small and medium enterprises during this fiscal.