TechInPacific – Bank South Pacific (BSP) has partnered with PHA Health Assurance Company Limited to integrate online payments for the insurance products that the local digital insurance company offers.
The company’s mission is to ‘provide insurance protection and peace of mind for its customers’ as stated from its official website.
“We will deliver innovation and excellence in our products and services. In all we do, we are dedicated to going above and beyond what is expected.”
The company has acquired more than 30,000 active customers and reserves the insurance options for both individuals and corporate clients with two types of affordable plans: General (property, engineering, marine, motor, specialty lines, travel and all forms of legal liability insurance products) and healthcare insurance.
According to Raj Juta, the acting Chairman and CEO of the PHA group, the partnership significantly improves their brand outreach to the current market thanks to the presence of the online payment.
“An online payment gateway will allow us to reach a more significant segment of customers simply because it gives them the flexibility of purchasing insurance in different ways. Whether it is with credit or debit cards, or online payments through mobile, the customer will enjoy a new experience of engaging with insurance – seamless buying experience from any mobile device at any time – 24/7, 365 days a year.”
Now customers can purchase a plan through online payment (aside from the conventional cheque and bank transfer) directly from PHA’s website. PHA developed its technology with the help of Singapore-based YOORS Digital, a growing technology provider that ‘ease the transformation journey businesses are undergoing, with a focus in point of sale, partner ecosystem, and middle office automation’.
The partnership has spark fintech growth in the region, according to Juta.
“Our partnership with BSP is strategic as we grow the overall fintech ecosystem in the region and the future of digital insurance in PNG.”
BSP is also open to any interested businesses wanting to integrate online payment into their website and will offer support for each step of the onboarding process. Contact BSP through email [email protected] and call BSP 3201212 or 70301212 to get started.