Motor vehicle owners who have third party insurance cover with Sun Insurance can now pay for its renewal using their mobile phones. They will also be able to make insurance premium payments for insurance policies with Sun Insurance. Vodafone and Sun Insurance have signed a memorandum of understanding that now opens up Vodafone’s M-PAiSA service to pay motor vehicle third party insurance and other insurance payment with the Company using M-PAiSA.
The opening up of M-PAiSA payment option in an initiative that could be termed futuristic, convenient and path breaking, “said the CEO of Sun Insurance Lolesh Sharma. This is an innovative premium payment gateway using the M-PAISA platform that opens up new opportunities for both Vodafone and Sun Insurance to offer new and innovative products to its client base. More and more of our clients are looking for convenient and secure payment option. M-PAiSA offers that convenience and secure mode of payment with real time payment information made available to Sun Insurance finance division.
Sun Insurance has the major share of third party motor vehicle insurance. This opens a convenient payment option for our clients at no additional charge to the user. For our clients like the taxi drivers, they need to spend more time on the road to increase their income as opposed to coming to our office to pay for their parties. They will be able to do this by entering all relevant details using their mobile phone. We will verify these details in our system and issue the documentation accordingly which the client can collect from our reception or we can even mail it to them, said Mr Sharma. This is a 24 hour channel that enables clients to pay in a timely manner to avoid unnecessary fines and penalties. Customer can also pay for the road assist service that Sun Insurance offers for breakdown on the road.
This unique home grown package greatly enhances the use of mobile technology and contributes significantly for greater convenience and productivity. The service can also be used to pay for other insurance policies that clients hold with Sun Insurance. The service comes free of charge to the customer and is a value addition to both Sun Insurance and Vodafone customers.
Through this facility, it is now possible for Sun Insurance customers living in remote rural areas and outer islands to access life insurance cover and pay their premiums using the mobile network. In future the facility can be extended to settle insurance claims and other insurance services as well.
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