ComBank enables Ceylinco Life policyholders to pay premiums through Q+ Payment App & CRMs

Sri Lanka’s largest private Bank, the Commercial Bank of Ceylon and the country’s leading life insurer Ceylinco Life have collaborated to enable policyholders of Ceylinco Life to make premium payments through the Bank’s Q+ Payment App and its island-wide network of Cash Recycler Machines (CRMs).

With this development, Ceylinco Life policyholders can pay their insurance premiums conveniently and securely from anywhere, 24×7 and 365 days of the year, the Bank said. The payments will also be validated in real time and updated on the same day.

The Bank said the continuing digitisation of payments is particularly timely and significant, considering that safety and convenience are the topmost priorities on the minds of customers, especially in the backdrop of the pandemic-related risks associated with physical contact.

Ceylinco Life policyholders can pay their premium dues via their smartphones by simply downloading the Q+ Payment App from the App Store or Google Play Store, signing up by filling in the required details (User ID and e-mail) and creating a Q+ Payment App account. In order to enable premium payments, policyholders have to link their ComBank Credit, Debit or Prepaid Cards to the App, click on the ‘Bill Payment’ menu on the App, select ‘Ceylinco Life’ as the service provider and insert the required details.

Customers can also save their recurring premium payments under the ‘Favourites’ tab to avoid re-entering billing account numbers. Since a Personal Identification Number (PIN) is required to authenticate bill payments, the entire process is hassle free and secure.

Alternatively, policyholders can also visit any one of the 275 Commercial Bank CRMs across the country, select ‘Cardless Deposits’ on the machine’s home screen, select insurance payments to Ceylinco Life under the ‘Bill Payments’ option and proceed to pay their dues within a matter of minutes, the Bank said.

‘Insurance’ is the newest category added to the Q+ Payment App ‘In App Payments’ feature. The App already enables users to make in-app bill payments in eight categories such as data reloads, pre-paid and postpaid mobiles, fixed telephone lines, utilities, water and electricity (CEB and LECO), pay TV bills, Credit Card outstanding and Pre-paid Cards top-up.

Adjudged Sri Lanka’s Service Brand of the Year by the Sri Lanka Institute of Marketing (SLIM) and voted the ‘Most Popular Service Provider’ in Sri Lanka’s Life Insurance industry in respect of 2021, Ceylinco Life has been the country’s leading life insurer for more than half of the 34 years it has been in existence. The company has close to a million lives covered by active policies and is acknowledged as a benchmark in the local insurance sector for innovation, product research and development, customer service, professional development, sustainability, and corporate social responsibility.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches and 938 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.