Insurance
Unleashing the Opportunities of Digital Payments in Insurance
Insurance companies have started getting payment gateways onboard to make the customer experience seamless and smooth.
The insurance sector in India is growing at a rate of 12-15% in the last few years majorly due to the increasing awareness of the sector through digitalization. By 2025 this sector is expected to have a CAGR of 13% with a gross premium return of over 3,00,000 crores.
The traditional method of collecting premiums through cheques and cash and maintaining records of the transactions is exhausting. A lot of insurance companies have started getting payment gateways onboard to make the customer experience seamless and smooth.
The insurance company sends an agent to the client for discussion of the insurance plan
The client finalizes the insurance plan and completes the documents
Insurance Companies verify the documents
Customer chooses payment method such as cheque, cash payments
The customer receives a confirmation text for payment
Problems
Time Consuming
Difficult to manage monthly premium records
Mismanagement of documents
Customers have to pay interest for delayed payments
Resource Intensive
Fraud Transactions
Use of payment button, invoices, bill pay, and request Pay for instant payment
Partial Payments
Reseller Management
Manage subagents on platforms
Instant Refunds
Notifications Reminders
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Aurionpro Solutions Limited
Synergia IT Park, Plot No-R-270, T.T.C., Industrial Estate, Near Rabale Police Station, Rabale, Navi Mumbai-400701
Aurionpro Payment Solutions Private Limited
Registered Address - Plot No. R-203, Unit No. 603, Sigma IT Park, R-204, TTC Industrial Area, Estate, Rabale, Navi Mumbai, Maharashtra 400701
CIN ( U72900MH2021PTC364601)
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