DBS has worked with Sun Life to allow customers to submit hospitalisation and accidents claims online and receive their claim payout as quickly as within 24 hours.
By using the recently launched eClaims feature on Sun Life’s “My Sun Life HK” app, and DBS’ application programming interface solution IDEAL RAPID, together with the real-time payment functionality of Hong Kong’s Faster Payment System (FPS), individual insurance clients can now easily submit hospitalisation and accidents claims online.
According to Sun Life, its eClaims solution covers over 95% of all claims that the company receives. This collaboration enables customers to receive claim payments without disclosing bank account details.
“We are excited to support Sun Life to be the forerunner in the Hong Kong insurance market to streamline end-to-end claims processing. The reimbursement of claims can be quick and paid to the policy holder’s account in as fast as 24 hours, which greatly enhances customers’ experiences, added Sohfern Boey, managing director and head of global transaction Services at DBS Bank Hong Kong.