Private insurer Canara HSBC Oriental Bank of Commerce Life Insurance Company (CHOICe) today launched an online facility to revive policies.
This enables the customers to reinstate a lapsed policy and pay their premium online, thereby, making the complete process convenient, faster and effortless, the private insurer said in a release here.
"The online revival facility has been designed keeping in mind the demanding lifestyle of customers. There is a tendency of not reviving the policy because you have to go to the insurer's office. This revival facility makes the process convenient for our valued customers and provides an immediate solution. It will also help in increasing persistency," CHOICe Chief Executive Officer John Holden said.
CHOICe is a joint venture between public sector banks - Canara Bank and Oriental Bank of Commerce - and HSBC Insurance (Asia Pacific) Holdings, the Asian insurance arm of one of the world's largest banking and financial services groups - HSBC.
