Business Insurance

Improve Premium Collection, Reduce Policy Lapses & Increase Sales

Solution to address all Insurance Collection needs - Online & Offline

Collect Insurance Premiums with ease with Paytm All-in-One Payment Solutions

All payment methods supported. Credit/Debit card, Net Banking, UPI, Wallet, EMI, Post-paid, Bank Transfers

Enablement via Bharat Bill Payment System (BBPS) across multiple consumer apps

Easy recurring premium collection via SI on Credit Card, eNACH Mandate & UPI Autopay

Support for offline collection modes via EDC Machines, QR code.

Payment Links and Dynamic QR for easier renewal experience

Increase sales reach via The Paytm Mini App Store

Benefits That are Front & Center.

Insurance renewals on the go

With multiple online and offline pay modes that Paytm offers, the end consumers gets the flexibility to choose from different options for their insurance premium payment.

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Extended reach with BBPS

Via BBPS, merchants can get onboarded for renewal premium collection across multiple 3rd party customer facing applications in no time.

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Avoid policy lapses or churns

Through Integration on Paytm App, Insurance companies can choose to send notifications to their policy holders on Paytm App which helps in easy and quick payment of renewal premium thereby reducing policy lapses.

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Deliver A Great Customer Experience

Freedom of Choice

Customers can choose from a variety of options to pay their insurance premiums. Paytm provides the widest range of payment solutions from Credit Card, Debit Card, NetBanking, UPI, Wallet, EMI and Post-paid, eNach mandates, as well as UPI Autopay.

Premium Payments Anytime, Anywhere

Insurance company representatives can generate payment links or dynamic QR codes, anytime they speak to customers and share via email or SMS for customer's convenience to renew or purchase new plans.

Paytm & Other Wallets

Insurance companies can get onboarded as a BOU with BBPS via Paytm, which enhances their reach and gives their customers the option to pay using any wallet of their choice.

Great Partnership

Deliver A Great Customer Experience

Large Payment Collection

Increase ease of investment and reconciliation through quick fund realization via Bank Transfers.

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Subscriptions

Automate collection through eNACH Mandate and UPI Autopay with the best success rates.

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Payment Links

Easily generate and use Payment Links to send subscription links and automate collections.

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Frequently Asked Questions

Why should a General Insurance Company, Life Insurance Company, and Standalone Insurance Aggregators opt for the Paytm All-In-One Payments solution suite?

Paytm All-In-One Payments is the preferred partner for payment solutions for Insurance providers. The Paytm All-In-One Payments Solution Suite is a combination of different payment solutions by Paytm, specifically engineered keeping in mind the challenges faced by the Insurance industry for collecting premium payments, reducing policy churn, and improving sales.

Did Paytm for Business do any research specific to the General Insurance, Life Insurance & Standalone Insurance industry before creating this suite?

Yes. The Paytm All-In-One Payments solution suite was designed after in-depth research into the customer mindset and expectations for insurance premium payments. The suite is thus a complete solution to what insurance customers need today.

Does the suite include the Paytm All-In-One Payment Gateway?

Yes, along with a gamut of other features and benefits that help insurance providers differentiate their services from others, the suite includes the Paytm All-In-One Payment Gateway.

What if an insurance customer wants to set up auto-debits?

No problem. Using the subscription services for recurring payment collection, insurance providers using the Paytm All-In-One Payments solution suite can simply set up eNach mandate or UPI Autopay, giving the customer what they want, while also ensuring regular premium payment collection.

What is BBPS onboarding via Paytm?

Paytm All-In-One Payments is one of the few service providers with the capability to onboard an insurance provider to the Bharat Bill Payment System as a Business Operating Unit (BOU). Through this one integration, insurance providers become listed on all payment services present on BBPS along with those that have on-boarded the customer, when the customer chose to use their system or wallets. No separate agreements required.

Doesn’t Paytm just offer a wallet and a payment gateway? So, what is this suite?

Paytm All-In-One Payments is much, much, more than that, thanks to the love and faith of our Indian consumers and clients. The Paytm All-In-One Payments solution suite is a combination of multiple products, and the Paytm Wallet, as well as the Paytm All-In-One Payment Gateway, are just a small part of the complete suite.

What are offline pay modes?

As part of the Paytm All-In-One Payments solution suite, Insurance providers can give their customers the flexibility to make premium payments via cash at the various cash collection points set up by Paytm. Paytm All-In-One Payments also provides EDC machines for customers who wish to swipe their credit or debit cards physically.

What is the purpose of payment links and dynamic QR?

Collecting premium payments on-the-spot, during an in-person or virtual meeting with a customer, or during a telephone conversation becomes easier due to the same. The payment link or dynamic QR can be sent via SMS or email for premium payment collection through Net Banking, UPI (Unified Payment Interface), and more.

Any other benefits?

To keep customers engaged, Insurance providers can use the suite to send reminders and notifications to their customers. This helps improve timely premium payment collections and also improves business sales.

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