Kathmandu. Suryajyoti Life Insurance has introduced two digital services in the insurance sector of Nepal. The company has introduced Suryajyoti Cares Card and e-loan service.
The company launched both these digital services during an event organized in Kathmandu today. The chief guest of the event was Sharad Ojha, Chairman of Nepal Insurance Authority.
According to the company’s Chief Executive Officer (CEO), Prakash Bikram Khatri, these services have been introduced for the insured and agents. “Suryajyoti Life has succeeded in bringing both these services to the insurance sector of Nepal for the first time,” he said. “Both these facilities can be used free of charge.”
According to CEO Khatri, through the Suryajyoti Cares Card, insureds and agents will get attractive discounts on various hotels, restaurants, malls, fitness, hospital services, and purchasing air and cinema tickets. ‘Currently, the company has entered into merchant agreements with 42 different service providers across the country,’ he said. ‘Insureds, agents and employees will be able to use this facility through QR by visiting those service providers.’
To use this facility, the insured must have an insurance policy with a minimum sum assured of Rs. 5 lakh, the insurance policy must be active and renewed, the agent must have a self-coord of Rs. 6 lakh and a team business of Rs. 3 lakh.
Similarly, the company will provide loans to the insured in real time for e-loans. “Today, companies used to get loans by pledging the insurance policy 2-3 days after the insured filled the form,” said CEO Khatri. “However, through this service, the insured will get loans in real time through an online payment service provider.”
The company has set the following conditions for availing the e-loan facility: 3 years of membership and 3 years of insurance premium payment, 90 percent of the surrender value or a maximum of Rs 50,000 can be obtained, KYC must be updated, the interest rate determined by the company will be applicable, it is considered that the insurance policy is agreed to be used as collateral for the e-loan, and a service fee of Rs 50 will be charged. The insured can avail this facility through Khalti, E-Sewa, PhonePe, Connect IPS and NIC Asia Bank.
According to CEO Khatri, Suryajyoti Life is the first company in the life insurance sector to provide treatment for 35 fatal diseases. ‘It is the first company to merge, the first ISO certified life insurance company in the life insurance sector of Nepal, and the first company to have a correct plan to return only the premium without any bonus instead of selling policies related only to bonuses,’ he said.
Khatri said that Suryajyoti Life is also the first company to introduce a digital app. “Through the said app, the insured, agents and company employees can know all the details,” he said.
Khatri said that the Insurance Authority has great support and cooperation in the achievements of the company in the life insurance sector.
