NTUC Income has initiated a collaboration with JRNY to build an AI insurance agent.
The AI agent will look to help customers of NTUC better understand what insurance cover they need. This project is expected to take around four months to build and once it has been created, consumers will be able to access it on the company’s website.
Singapore-based NTUC is an insurance company which offers protections for family, vehicles, travel, employees, home, business and schools.
NTUC Income head of transformation Max Tiong said, “Sometimes, people have a poor perception of insurance – that it is confusing and difficult. But there is a real opportunity for technology to help make insurance easier to understand, purchase and manage.”
JRNY is based in New Zealand and offers an AI-powered platform which helps insurance firms improve policies, streamline interactions, lower operational costs, improve efficiency and ease compliance processes.
The platform supplies an insurer’s customers with an app which can recommend policies based on their preferences and needs. Its chat-based app also lets a customer buy a policy directly by connecting the customer with a digital agent. Finally, a policyholder can mange their details, policies and claims through the messaging solution.
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