Prabhu Mahalaxmi Life Insurance Partners with Nepal Clearing House Ltd. to Automate Payment Processes

Prabhu Mahalaxmi Life Insurance has partnered with Nepal Clearing House Ltd. (NCHL) to automate its payment processes, including disbursements and collections, through NCHL’s payment systems.

The integration with NCHL’s National Payments Interface (NPI) will allow the insurance company to automate premium collections, loan repayments, claim payments, agent commissions, and other transactions via NCHL-IPS or RPS. This integration ensures seamless payments between the company and its beneficiaries.

Prabhu Mahalaxmi Life Insurance has already started loan disbursements and plans to expand its payment services soon. The NPI provides access to various payment systems and connects over 53 BFIs and 110 non-bank institutions.