Reliance Life Insurance Ties-Up with Khalti for Digital Payment Service

Kathmandu, August 12 .  Reliance Life Insurance Limited has signed an agreement with Khalti to provide digital payment service for its customers through Khalti’s app and website.

With this partnership, Reliance Life Insurance Limited’s customers across Nepal can now make their payment through Khalti easily and conveniently. Customers can pay their premium using the fund in their Khalti wallet or directly through e-banking and mobile banking options available in Khalti’s platform.

Speaking about the partnership, Pravin Raman Parajuli, CEO of Reliance Life Insurance Ltd. shared,

“At Reliance Life Insurance, we are working to redefine insurance industry in Nepal. We are excited to collaborate with Khalti to introduce digital payment for insurance. Now, our customers can pay insurance premium directly from their mobile phone using Khalti app. In addition to benefiting the customers, going digital will benefit the insurance industry as well since it will help in keeping track of premium payers and make it easier to track irregularities.”

Similarly, speaking about expanding its digital payments portfolio to life insurance payments, Khalti’s MD Manish Modi shared,

“We are glad to partner with Reliance Life Insurance Limited. Now, Reliance Life Insurance customers need not visit the insurance office or banks to pay their insurance premium. They can pay the premium directly from their smartphone using Khalti. This is an easy way to pay insurance premiums conveniently without any hassle. Now, we feel we have headed one step closer to making transactions digital in Nepal.”

Digital payment is seeing an upwardly trend in Nepal in recent times. As per the latest statistics from Nepal Rastra Bank, more than 70 lakh people use mobile banking in Nepal, and almost 9 lakh people use internet banking. Similarly, as per the latest MIS report from Nepal Telecommunication Authority, 64% of Nepal’s population has access to fast speed broadband internet. In this scenario, introducing digital payment for life insurance holds a lot of significance.

Users can download Khalti app from khalti.com/app and pay insurance premium directly from their smartphone.