Aiming to provide Unified Payments Interface (UPI) AUTOPAY facility to its customers, ICICI Prudential Life Insurance has tied up with the National Payments Corporation of India (NPCI). Customers can enable the UPI AUTOPAY feature on their favoured UPI apps such as Paytm, BHIM etc. This would enable customers to buy insurance policies and make premium payments from the safety and comfort of their homes. ICICI Prudential Life has become the first life insurance company to provide its customers with the UPI AUTOPAY facility as part of its efforts to simplify processes and thereby provide convenience to customers.
At the time of purchasing a life insurance policy customers can link their bank accounts with UPI AUTOPAY and easily make premium payments thereafter. The UPI AUTOPAY e-mandate can be activated by customers themselves by using their smartphones to make regular renewal premium payments in a paperless format. This tie-up is another step in the Company’s digitalisation journey.
