ICICI Prudential Life Insurance has signed a strategic partnership with Punjab National Bank (PNB).
Under this partnership, ICICI Prudential Life policyholders can make their premium payments through cash, cheque, demand drafts or direct debit (for PNB customers) across the banks 4,600 branches. ICICI Prudential Lifes consumers can now walk into any of PNBs 4,600 branches across the country to make their premium payments. During the first phase, the service will be made available in Punjab, U.P. Uttaranchal, Haryana and West Bengal.
ICICI Prudential Life set off the partnership with Punjab National Bank, to provide its customers the convenience of utilising the vast network of the bank within the country. Customers can now walk into any bank branch in the country, produce their acknowledgement letter/renewal premium notice and policy number and make their premium payments in cash, cheque, through demand draft or direct debit.
Anita Pai, Executive Vice President, Customer Service & Technology, ICICI Prudential Life Insurance, said, "We have always believed in offering consumers with products that will help them meet their long-term financial goals conveniently. Our service infrastructure is built to enhance their overall experience with us and to enable them to reach out to us easily. Our strategic partnership with Punjab National Bank is a significant step in this direction, as it will enable our consumer access the wide network of the bank to pay their premiums at locations easily accessible to them and in a mode that they are most comfortable in."
Ashwani Kumar, Deputy General Manager, Punjab National Bank, said, "We are happy to partner with ICICI Prudential Life, Indias leading life insurer, and extend our service portfolio to include collection of insurance premiums through our over 4,600 branches in the country. Our partnership will help the insurance major in penetrating further in the semi-urban and rural locations where the need for insurance is growing. This partnership will provide consumers, premium payment facility at a location closer to them at no extra cost."
With the partnership with PNB in place, ICICI Prudential Life now offers consumers over 10,000 touch-points across the country to make their premium payments.
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