FGB and LIC International Collaborate to Launch ‘first’ Insurance Co-branded Credit Card

FGB and LIC international announced a joint initiative to launch a co-branded credit card for customers in UAE. The credit card will be first of its kind which will offer customers a unified payment solution, along with loyalty offers.

Customers are often reluctant to make insurance payments through credit cards because of ad hoc surcharge levied by many insurance companies on premium payments. The new credit card provides a solution to the issues of concerning policy holders. Moreover, the new card will also offer a platform for both companies to offer various special offers and develop a loyalty program.

Girish Advani, Executive Vice President and Head of Mass Market, Consumer Banking Group, said that the joint project will help both companies offer value added services to customers in the region. He further added that he’s delighted to have partnered with one of the leading companies in the industry, which will help offer saving and convenience to all customers.

Rajesh Kandwal, Chief Executive Officer and Managing Director of LIC International said that he’s hopeful that the new initiative will offer value added services to customers from two customer-focused organizations.

Both companies have been working together since January 2013. The companies recently also undertook a joint interactive Consumer Awareness Campaign on the importance and benefits of financial planning.

Recently, FGB also introduced a single platform for multiple loyalty programs which was meant for improving the customer experience.