• First life insurer to roll out the Banking Connect experience for a closed user group
  • Enables premium payments through preferred banking app securely instead of internet banking login credentials
  • New journey provides a mobile-first, interoperable payment experience across multiple banking partners

Bangalore : ICICI Prudential Life Insurance has introduced a new digital payment experience that enables customers to pay premiums directly through their preferred banking mobile application in a secure manner without entering separate internet banking login credentials.

This service has been activated through NPCI’s Banking Connect platform, which was unveiled at the Global Fintech Fest (GFF) 2025, and ICICI Prudential Life is the first life insurer to enable this feature for its customers.

Banking Connect integrates payment options within the existing mobile banking journeys, allowing customers to make premium payments with a single authentication step, making the entire journey hassle-free. By operating on an interoperable layer that brings multiple banks and payment aggregators onto a single digital rail, the feature provides customers with the flexibility to transact using the banking app of their choice.

Commenting on the launch, Mr. Amish Banker, Chief Operations Officer, ICICI Prudential Life Insurance said, “The introduction of this mobile-first payment option is aligned with our Company’s focus on enhancing customer experience, simplifying processes and improving accessibility. Importantly, we have always designed insurance journeys around customer’s evolving preferences. With the Banking Connect initiative, we are embedding premium payment within the customer’s preferred banking app, making it simple and intuitive. With the increasing use of mobile phones as the preferred mode to pay and with digital adoption, we remain committed to simplifying insurance services for our customers.”

This rollout further strengthens ICICI Prudential Life’s digital innovation roadmap, which is centred around offering seamless customer experience at various stages of the policy lifecycle. The interoperable capability of this new payment option ensures that customers are not restricted to a single interface or banking partner, enabling a consistent and hassle-free experience across institutions. The initiative also supports the Company’s larger goal of building frictionless digital service journeys that reduce effort and increase transparency for policyholders.

As adoption scales, ICICI Prudential Life plans to further enhance the journey with additional in-app service features to ensure customers can manage their policy requirements with greater convenience and real-time access.