By leveraging the recently launched eClaims1 feature on the My Sun Life HK app, a mobile application offered by Sun Life, and DBS’ Application Programming Interface solution, IDEAL RAPID, together with the real-time payment functionality of Hong Kong’s Faster Payment System, individual insurance clients1 can now easily submit hospitalisation and accidents claims online via the eClaims feature on the My Sun Life HK app, and receive their claim pay out as quickly as within 24 hours2.

With FPS being the selected payment option, clients can designate a mobile phone number or an email address to receive the claim payments without disclosing their bank account details to make the process even simpler. And they no longer need to queue to deposit the cheque if they use FPS instead of cheque, hence eliminating unnecessary waiting and cheque processing time.

According to Sun Life, this eClaims solution covers over 95% of all claims that Sun Life receives, with benefit to settle and pay accident claims submitted through the mobile application within 24 hours at the earliest2.

“We are excited to support Sun Life to be the forerunner in the HK insurance market to streamline end-to-end claims processing. DBS’ cutting edge solution, RAPID, together with FPS makes the customer journey seamless. The reimbursement of claims can be quick and paid to the policy holder’s account in as fast as 24 hours “ ” Added Sohfern Boey, Managing Director and Head of Global Transaction Services at DBS Bank Hong Kong.

In August 2018, DBS introduced its award-winning API solution, DBS IDEAL RAPID, to Hong Kong, for corporate clients to access instant banking services on their digital platforms. The Sun Life use case is an excellent example of how the API solution is making banking seamless and enhance customer experience on the claim process for Sun Life.