AJOD Insurance Joins NPI

AJOD Joins NPI
Share It On:

7th January 2022, Kathmandu

AJOD Insurance Ltd. has signed an agreement with Nepal Clearing House Ltd. (NCHL) for automating its various payments related processes, including disbursements and collections, through NCHL payment systems.

The agreement was signed by Mr. Kumar Bahadur Khatri, CEO of AJOD Insurance, and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.

With this, AJOD Insurance has become another non-life insurance company to directly integrate its system(s) with the National Payments Interface (NPI) of NCHL, enabling the insurance company to process the disbursement transaction, like claim proceeds, credit note payment, agent commission, survey payment, salary payment, purchase/vendor payments, and investment placements fully automated through NCHL-IPS and connect-IPS systems.

This will also help the insurance company to sweep its transactions from multiple accounts held at different banks to its operating account.

All such transactions will be processed directly through the bank accounts of the insurance company to the beneficiary/ customer account held at any bank/financial institution.

With this integration, the transactions can be fully automated and reconciliation eased. The integration has been supported by the insurance company’s technical partner Arhant Solution Pvt Ltd., which has been providing core insurance solutions to more than 18 non-life insurance companies in Nepal.

AJOD Insurance along with other 30 life and non-life insurance companies are already using NCHL’s connect-IPS platform for their premium collection and 10 life and non-life insurance companies have already subscribed for the NPI system, which is now part of the National Payment Switch.

NPI is a consolidated interface for interconnection with multiple underlying payment systems of NCHL and has over 60 BFIs within the network and is being used by 71 non-bank institutions including PSPs/PSOs, insurance companies, remittances, merchant banks, Government, Semi-Govt institutions, large corporates, etc.

AJOD Insurance Ltd. has been providing its service since 5th July 2018. The company is promoted and supported by leading commercial banks, bankers, and highly fervid professionals.

It is always focused on moving in a forwarding direction to grasp the growing market and keeping the standard at the highest possible level by providing a quality, stable, expert service to its customers. AJOD Insurance is thriving to develop innovative and custom-made products for delivering quality service.

And it believes that this partnership with NCHL will help extend its presence in the insurance products delivered through various digital channels.

For more information, visit www.nchl.com


Share It On:

Recent Posts

Liberty Energy Rights Shares Offering: Eligibility, Application Process, and Future Plans

Liberty Energy Rights Shares Offering: Eligibility, Application Process, and Future

Share It On:22nd November 2024, Kathmandu Liberty Energy Company Limited is gearing up to issue rights shares starting December 1,

Asha Laghubitta’s 8th AGM 2024: Key Decisions and Future Plans

Asha Laghubitta’s 8th AGM 2024: Key Decisions and Future Plans

Share It On:22nd November 2024, Kathmandu Asha Laghubitta Bittiya Sanstha is holding its 8th Annual General Meeting (AGM) today, November

6th Asian Population Conference 2024 in Nepal: Advancing Sexual and Reproductive Health Policies

6th Asian Population Conference 2024 in Nepal: Advancing Sexual and

Share It On: 21st November, Kathmandu Nepal is set to host the 6th Asian Population Conference from November 27 to

Kumari Bank Promoter Share Sale: Eligibility, Application Process, and Price

Kumari Bank Promoter Share Sale: Eligibility, Application Process, and Price

Share It On:21st November, Kathmandu Kumari Bank Limited has officially declared its intention to sell a substantial number of promoter

Up to NPR 150 Cashback on Nepal Telecom and Ncell Services with Namaste Pay

Up to NPR 150 Cashback on Nepal Telecom and Ncell

Share It On:21st November, Kathmandu Namaste Pay has unveiled an exciting new campaign to reward its users with cashback on

Ncell introduces innovative feature, enabling customers to convert voice to data or data to voice services

Ncell introduces innovative feature, enabling customers to convert voice to

Share It On:21st November, Kathmandu Ncell customers can enjoy an innovative feature that allows them to convert or exchange remaining