Reliance Life Insurance Limited has signed an agreement with Khalti to provide digital payment service for its customers through Khalti’s app and website.
With this partnership, Reliance Life Insurance Limited’s customers across Nepal can now make their payment through Khalti easily and conveniently. Customers can pay their premium using the fund in their Khalti wallet or directly through e-banking and mobile banking options available in Khalti’s platform.
Speaking about the partnership, Pravin Raman Parajuli, CEO of Reliance Life Insurance Ltd. shared,
“At Reliance Life Insurance, we are working to redefine insurance industry in Nepal. We are excited to collaborate with Khalti to introduce digital payment for insurance. Now, our customers can pay insurance premium directly from their mobile phone using Khalti app. In addition to benefiting the customers, going digital will benefit the insurance industry as well since it will help in keeping track of premium payers and make it easier to track irregularities.”
Similarly, speaking about expanding its digital payments portfolio to life insurance payments, Khalti’s MD Manish Modi shared,
“We are glad to partner with Reliance Life Insurance Limited. Now, Reliance Life Insurance customers need not visit the insurance office or banks to pay their insurance premium. They can pay the premium directly from their smartphone using Khalti. This is an easy way to pay insurance premiums conveniently without any hassle. Now, we feel we have headed one step closer to making transactions digital in Nepal.”
Digital payment is seeing an upwardly trend in Nepal in recent times. As per the latest statistics from Nepal Rastra Bank, more than 70 lakh people use mobile banking in Nepal, and almost 9 lakh people use internet banking. Similarly, as per the latest MIS report from Nepal Telecommunication Authority, 64% of Nepal’s population has access to fast speed broadband internet. In this scenario, introducing digital payment for life insurance holds a lot of significance.
Users can download Khalti app from khalti.com/app and pay insurance premium directly from their smartphone.
About Reliance Life Insurance Limited
Incorporated on 17 November 2017, Reliance Life Insurance Limited is one of the newest and most renowned life insurance companies in Nepal. Its Issued Capital is Rs 2.10 billion and Paid-Up Capital is Rs 1.47 billion. Reliance Life Insurance offers long term savings and protection products to meet different life stage requirements of its customers. It is developing various initiatives to provide cost-effective products, superior quality services, and a hassle-free claim settlement experience to the customers. As part of the company’s efforts to serve people countrywide, it has established 88 branches & sub branches across various parts of the nation.
About Khalti Digital Wallet
Started in 26 January 2017, Khalti is an emerging mobile payment solution in Nepal. It provides various utility bill payment services, mobile recharge, DTH recharge, domestic flight booking, movie ticketing, event ticketing, hotel booking, newspaper subscriptions, payments at online shopping sites, and insurance premium payments among various other digital payments services. Khalti is a licensed Payment Service Provider from Nepal Rastra Bank. Khalti is fast becoming the preferred online payment platform in Nepal. Currently, more than 8 lakh people regularly use Khalti for various bill payments services.
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