Zurich Insurance Group will acquire Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation.
Zurich Insurance Group said the acquisition of AlphaChat will considerably strengthen its conversational AI capabilities and help it create an efficient approach to developing intelligent virtual assistants across businesses, for both internal and external purposes.
Founded in 2017, AlphaChat has built a messaging automation product capable of understanding natural language, authenticating users, providing personalised responses and executing transactions.
The Group explained that technology is playing a critical role in advancing its customer-focused strategy by differentiating the offering, improving the customer experience, and streamlining interactions. Moreover, conversational AI is central to meeting increasing demand from customers for personalised products and services that are available around the clock, the company added.
Ericson Chan, group chief information and digital officer, said, ?We have spent decades to learn how to communicate with computers through different programming languages. Now it is time for computers to learn how to have a personal conversation with all of us. Natural language processing is key to further enhance customer experience, complementing human interaction in the most natural way.p>
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