AIA Insurance leads in customer convenience: Rs. 1 b collection on Quick Pay app

AIA Quick Pay, the disruptive digital premium payment app developed specially for AIA Insurance’s Wealth Planners and Financial Planning Executives to collect customer premiums has hit a whopping Rs. 1 billion worth of transactions and premium collections, as at July 2021. This impressive engagement which was achieved just 22 months since the app’s introduction is testament that AIA’s unwavering commitment towards customer convenience truly does resonate with the customer.

AIA Quick Pay is the first automated payment app in Sri Lanka’s Life insurance industry, making payment of premiums faster and easier for AIA customers. It is essentially a digital solution that lets customers pay for new policies, set up recurring payment plans or Standing Orders, pay for policy revivals, all via an online link.

AIA CEO Nikhil Advani commented, “Achieving Rs. 1 billion worth premium collections within just 22 months is a major milestone in AIA’s journey in driving greater customer convenience and transition to digitalisation. At AIA we respect our customer’s time and understand that their convenience is important. That is why we had to find a way for customers to make premium payments or set up a Standing Order using their Debit or Credit Card, simply and securely, from the comfort and safety of their own home.”

He added, “We introduced this facility in September 2019 much before the pandemic and it was done so our customers can make premium payments with ease at all times. Now, given the current situation, our customer’s safety comes first, and we are so happy to have had this platform well in place, so that our customers don’t have to face any risks in making premium payments.”

Deputy CEO and Chief Agency Officer Upul Wijesinghe also commented, “Timely premium payment is important to ensure uninterrupted financial protection and AIA Quick Pay makes it seamless and convenient by automatically taking care of this. It also makes it easier for our wealth planners to offer our customer’s faster and better service by processing their payments in less than five minutes! This is therefore a revolutionary solution that is safe and reliable, as part of AIA’s overall digitisation plan focused on speed and convenience, for our wealth planners and specially our customers.”

AIA Quick Pay is one of the largest insurance digital payment volume contributors on the Mastercard Payment Gateway Platform in Sri Lanka through Cargills Bank powered by DirectPay. DirectPay is an authorised Payment Service Provider (PSP) by the Central Bank of Sri Lanka which provides real-time, secure and convenient insurance premium payment solutions. It takes the highest precautions by complying with the Baseline Security Standards (BSS) for mobile applications under the guidelines of the Central Bank.

DirectPay CEO Kanishka Weeramunda commented, “We were a startup designing fully-integrated suite of payments products when AIA approached us and together, we developed an industry pioneering solution that now has over Rs. 1 billion in collections! We were delighted to have a multinational giant such as AIA partner us and are proud of what we have achieved together in offering their customers unprecedented ease and convenience,” adding, “We will continue to work towards bringing in new tech and expanding features to further the convenience of remote transactions and cashless payments for AIA’s users.”

Please call AIA on 0112 310310 or reach out to your AIA Wealth Planner to find out more.