Premier Insurance Becomes the first Non-Life Insurance to Join NPI

Premier Insurance Co. (Nepal) Ltd. has signed an agreement with Nepal Clearing House Ltd. (NCHL) for automating its various payments related process, including disbursements and collections, through NCHL payment systems. The agreement was signed by Mr. Shadew Tiwari, Deputy CEO of Premier Insurance and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.

With this, Premier Insurance has become the first non-life insurance company to directly integrate its system(s) with National Payments Interface (NPI) of NCHL, enabling the insurance company to process the disbursement transaction, like claim proceeds, credit note payment, agent commission, survey payment, salary payment, purchase/vendor payments and investment placements fully automated through NCHL-IPS and connect IPS systems. This will also help the insurance company to sweep their transactions from multiple accounts held at different banks to its operating account. All such transactions will be processed directly through the bank accounts of the insurance company to the beneficiary/ customer account held at any bank/financial institution.