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Insurance

Unleashing the Opportunities of Digital Payments in Insurance

Insurance - Unleashing the Opportunities of Digital Payments in Insurance
Healthcare
Receiving Payments Simpler, Faster, Digital
Insurance companies have started getting payment gateways onboard to make the customer experience seamless and smooth.

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.

Traditional Method of Payments of Insurance:
The insurance company sends an agent to the client for discussion of the insurance plan

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

The client finalizes the insurance plan and completes the documents

Insurance Companies verify the documents

Insurance Companies verify the documents

Customer chooses payment method such as cheque, cash payments

Customer chooses payment method such as cheque, cash payments

The customer receives a confirmation text for payment

The customer receives a confirmation text for payment


Problem - Difficult to maintain records of Transactions

Problems

Time-consuming process may lead to unhappy customers and low revenue

Time Consuming

Difficult to manage monthly premium records

Difficult to manage monthly premium records

Mismanagement of records

Mismanagement of documents

Customers have to pay interest for delayed payments

Customers have to pay interest for delayed payments

Resource Intensive

Resource Intensive

Fraud Transactions

Fraud Transactions

Solutions
Use of payment button, invoices, bill pay, and request Pay for instant payment

Use of payment button, invoices, bill pay, and request Pay for instant payment

Partial Payments

Partial Payments

Reseller Management

Reseller Management

Manage subagents on platforms

Manage subagents on platforms

Instant Refunds

Instant Refunds

Notifications Reminders

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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