IME Life E-Loan Qorus-NTT DATA Innovation in Insurance Awards 2026

Life insurance, in its core, is a service-oriented industry. With gradually increasing penetration but scope still limited within urban areas of Nepal, competitiveness amongst the life insurance companies in the industry gets intense by the hour.

For a sustainable and balanced growth of any life insurance company, setting, maintaining and constantly upgrading standards of customer service is equally vital. At I.M.E. Life Insurance Company Limited, one of the younger companies in Nepal's life insurance industry, the Board and top management understand such need of customer service excellence and the impact of unique products and services on customer satisfaction, thus came into life, IME Life E-Loan facility.

To achieve the key strategic objective of digital transformation and establish itself as the first choice for policyholders, including the tech-savvy gen-z and gen-alpha, IME Life took a giant leap into digitization with migration to its new core insurance software "iEnsure" in 2023, followed soon enough by concurrent efforts for improvisation of its official website and mobile application.

Board oversight and management direction has been crucial in creation and enhancement of architecture of digital ecosystem of the Company. The Company has introduced digital services including policy purchase, policy renewal and KYC update to its customers through both its website and mobile application. Information Technology Department, in co-ordination with outsourced vendors, is the nodal unit for any digital developments supported by several departments including Underwriting, Policy Servicing, Actuarial, Finance, and Risk and Compliance.

Amongst its several digital endeavors, IME Life E-Loan facility has appeared to be one of the most successful ones arguably because of easy and free-of-cost access to financial accessibility. Along with the added financial edge of zero processing fee for the facility, a rarity in Nepal's life insurance industry, customers are provided with instant disbursement of loan from NPR 5,000 up to NPR 300,000 through any platforms the customer prefer, Company's website, mobile banking application or payment service intermediaries.

Traditionally, policy loans in Nepal’s life insurance sector required customers to visit branch offices, submit physical documentation, and wait two to three working days for processing and disbursement. IME Life E-Loan transforms the traditional policy loan process into a fully digital, instant, and customer-controlled service, significantly improving accessibility, turnaround time, and customer experience while eliminating paperwork.

Through easier digital onboarding and reboarding of customers, the Company has been able to increase its policyholders' loan portfolio thus improving its interest income. Incentivized by convenient and secure financing, AML/ CFT compliance is improved to due mandatory KYC requirement for such facility.