Technology is a veritable tool to deepen insurance penetration and pension, AXA Mansard, a member of the AXA Group and global leader in insurance and asset management, has said.

It therefore said plans to deepen insurance and pensions penetration whilst improving the investment culture in the country by driving the use of its Unstructured Supplementary Service Data (USSD) code as an alternative channel for service consumption.

The USSD code *987# tagged the 'one code for life's big issues', is designed to give users a more convenient way to purchase and manage their product plans.

Users will have an easy, quick and convenient channel to buy new products and policies, renew existing policies and make payments for Value Added Services (VAS).

Its Chief Digital Officer, Mr. Bayo Adesanya, said the USSD code is intended to improve customer experience and reduce turnaround time for all transactions.

He said: 'The digital world is advancing at a very fast pace. Organisations thus need to match the pace of this dynamic world by designing initiatives and creating platforms that allow their consumers to remain at the cutting edge of global digital transformation.'

The USSD code also enables subscribers to perform various activities which include purchase airtime, payment of utility bills, account opening and account balance check.

Its Chief Executive Officer at AXA Mansard Investments, Mr. Deji Tunde-Anjous said the move is in line with the new normal.

'The world is rapidly accepting the realities of a remote lifestyle and the onus is on every service provider to ensure customers are met at the point of their needs.

For us at AXA Mansard Investments, our customers have found the USSD code at these times extremely useful and convenient in making liquidations requests and monitoring their accounts.

We will continually seek for ways to create a delightful client experience that enables people better manage their finances

'With the USSD code, all the encumbrances associated with premium remittance, liquidation requests and account monitoring have been resolved, giving our clients an exceptional experience at any touch point of our services,' Tunde-Anjous said.

© Pakistan Press International, source Asianet-Pakistan