ICICI Prudential Life Insurance has tied up with the National Payments Corporation of India (NPCI) to provide a Unified Payments Interface Autopay facility to its customers. This tie-up is another step in the company’s digitalisation journey, which provides customers with a hassle-free and seamless experience across the policy lifecycle.
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About this facility:
- While purchasing a life insurance policy, customers can link their bank accounts with UPI Autopay for payment of premium.
- The UPI Autopay e-mandate can be activated by customers by using their smartphones to make regular renewal premium payments in a paperless format.
- The UPI payment mode is fast becoming a preferred route of payment due to the contactless and frictionless experience it provides.
- Customers can set up the e-mandate facility to make their regular renewal premium payments and ensure financial security for self and their families.
- Customers can enable the UPI Auotpay feature on their UPI apps. Alternatively, it can be enabled for banks through an e-mandate.
Important takeaways for all competitive exams:
- ICICI Prudential Life Insurance CEO: N. S. Kannan;
- ICICI Prudential Life Insurance Founded: 2000.
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