Mobile payment provider Atom Technologies has announced it is dealing with a large number of insurance companies in India. Initially it will provide interactive voice response (IVR) service for the companies, but all of them will soon be able to manage payments via mobile devices.
Apart from being able to pay via mobile, services involved would include advice and automated reminders when payments are due.
The companies includie Apollo DKV, ICICI Lombard General Insurance, ICICI Prudential Life Insurance, Reliance General Insurance and Royal Sundaram General Insurance.
From the release:
Anuj Gulati, director, Customer Service and Business Development – ICICI Lombard General Insurance, said: “The tie-up with atom contributes to our initiative of offering ease and convenience to our customers and the option of making payments via credit card or phone saving time and effort.”
Krishnan Ramachandran, COO Apollo DKV Health Insurance, said: “Atom technologies will help our customers with the ease of making premium payments on phones or through credit cards in a secure and automated environment. This step reiterates our commitment towards enhanced customer satisfaction and we look forward to more of such partnerships and propositions to evolve as a first choice health insurer in our country.”
What we think?
With Nokia recently sinking 70 million dollars into mobile banking in developing markets, it’s obvious this area has a lot of growth potential. Any company that accepts daily payments from tens of thousands of customers is going to want to invest in mobile payment – I would imagine one of the reasons for this large number of insurance deals is that atom didn’t want anyone else getting in first.