Nepal Life Insurance Joins NPS

18th November 2022, Kathmandu

Nepal Life Insurance Co. Ltd. has signed an agreement with Nepal Clearing House Ltd. (NCHL) for automating its various payment-related process, including disbursements and collections, through NCHL payment systems.

The agreement was signed by Mr. Pravin Raman Parajuli, CEO of Nepal Life Insurance, and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.

With this engagement, NLIC will now have access to various digital instruments under NPS through National Payments Interface (NPI) for automating its payments including various disbursement and collection like claim proceeds, agent commission, surveyor payment, salary payment, vendor payments, investment placements, etc.

This will also help NLIC to manage its own funds from multiple accounts held at different banks. NLIC will also initiate the introduction of new insurance products based on such specific payment instruments that will be available through this engagement.

Nepal Life Insurance Co. Ltd. has been working with its vision of spreading insurance to every home and contributing substantially to making Nepal an economically healthy and vibrant nation. It focuses on providing quality services of international standard and has been using various digital means to provide its services.

There are over 15 lakhs policyholders of NLIC supported through 197 branches and 212,362 agents across Nepal. And it believes that this partnership with NCHL will help improve its service delivery and extend new products through various digital channels.

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