LIC to introduce co-branded credit card with UAE bank
January 2 , 2015
LIC International of India, an arm of India's leading insurance establishment LIC, has collaborated with First Gulf Bank (FGB), one of the major banks in United Arab Emirates (UAE) to introduce “first-of-its-kind” co-branded credit card in the Gulf country, according to media reports. This is seen for the first time that a top insurance company in order to introduce unified payment solution has entered into partnership with one of the top banks of the country. ( UAE Map )
Persistency, insurance payments, and ad hoc surcharge imposed by several insurance companies on premium clearance through cards in the UAE have been a major issue for many policyholders.
Through this scheme, the bank looks forward to provide solutions to these concerns, along with creating a reliable platform for their common clients with special benefits.