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Reliance General Insurance introduces mobile payments for its customers

Reliance General Insurance (RGI), subsidiary of Reliance Capital, has added another feather in the cap. RGI, one of the top private players of general insurance in India, has launched a new feature wherein its customers can now make their premium payments using mobile phones. Post the introduction of this factor, the company would see 25% rise in productivity, while its sales would increase by 20%.

Mobile Point of Sales (MPOS) will not only make the process of premium payments easy for RGI customers, but will also eliminates payment-related delays, errors and frauds.

"With this mobile payment platform, we are providing our customers an additional mode of payment with a view to strengthen our First-Time-Right initiative and eliminate all premium-related irregularities that can be possible with a manual system followed by the industry," said Mr. Rakesh Jain, Chief Executive Officer and Executive Director, Reliance General Insurance Company (RGIC).

"With wider usage over a longer period of time, we believe it will help us translate in about 25% increment in sales-force productivity and 20% increase in sales," Mr. Jain added.

Introduction of MPOS, is an attempt to ensures higher level of security and transparency in premium payments. This facility is designed in a way that once the premium payment is made, the customer will receive an instant confirmation about his transactions through SMS and email.

Any touch screen mobile phone, with GPRS, can be converted into point of sales terminal. This will assist the progress of card payments, by joining an external specific card reader dongle. RGIC agent will carry the MPOS card reader dongle with their mobile handset to access bank's application and begin with premium collection from the customer.

Reliance General Insurance has already allotted 1,000 dongles to its agents in the initial phase. Going ahead, in the next few months, RGI plans to handover its sales teams with 5,000 dongles to enable wider usage of the new facility.

January 09, 2013