19th December 2020, Kathmandu
Prime Life Insurance has signed an agreement with Nepal Clearing House (NCHL) for automating its various payments related process, including disbursements and collections, through NCHL payment systems. The agreement was signed by Mr. Manoj Kumar Bhattarai, CEO of Prime Life Insurance Co. Ltd., and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.
With this, Prime Life will directly integrate its system(s) with NCHL-IPS and connectIPS e-Payment systems enabling the insurance company to process the disbursements, like claim proceeds, agent commission, salary payment, vendor payments, and investment placements. Once the system comes into operation, the policyholders of Prime Life will also be able to pay their premium online through connectIPS e-Payment or any of the bank branches. All such transactions will be processed directly through the bank accounts of the insurance company and the beneficiaries/ customers.