PLI, operated by the India Post under the Department of Posts, services over 1.25 crore active policies and processes around 2.5 lakh transactions daily.
With the integration, policyholders of both PLI and Rural Postal Life Insurance (RPLI) can pay renewal premiums through Bharat Connect-enabled online platforms as well as offline agent networks.
State Bank of India has acted as the Biller Operating Unit (BOU) to facilitate the onboarding. The move allows customers to access recurring premium payment services through multiple digital and assisted channels across the country.
Following the addition of PLI, the number of insurance billers on Bharat Connect has risen to 65, indicating a steady expansion in the segment. Overall, the platform supports more than 22,600 billers across 29 categories and is accessible through over 700 applications and more than 5 lakh offline agents.
NPCI Bharat BillPay Limited is a wholly owned subsidiary of the National Payments Corporation of India and operates the Bharat Connect system, which enables interoperable bill payments across categories for individuals and businesses.
The development is part of broader efforts to expand digital payment infrastructure for recurring financial services, including insurance premiums, across both urban and rural markets.
