Zurich Insurance to Acquire Conversational AI Company AlphaChat
Zurich Insurance to Acquire Conversational AI Company AlphaChat
Zurich Insurance Group agreed to acquire Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation, to further enhance the group’s digital capabilities.

Financial details of the transaction were not disclosed.

AlphaChat is one of the most advanced conversational AI startups, with a team of seasoned entrepreneurs and machine learning specialists, Zurich said in a statement.

Founded in 2017, AlphaChat has built a messaging automation product capable of understanding natural language, authenticating users, providing personalized responses and executing transactions, making communication with customers seamless.

The acquisition of AlphaChat will significantly strengthen Zurich’s conversational AI capabilities and help the group create a cohesive and efficient approach to developing intelligent virtual assistants ”across businesses, for internal and external purposes, added Zurich.

Technology plays a critical role in advancing its customer-centric strategy by differentiating the offering, improving the customer experience and streamlining interactions, said Zurich, noting that conversational AI is essential to meet growing customer demand for personalized products and services available. around the clock.

“We have spent decades learning how to communicate with computers through different programming languages. Now is the time for computers to learn to have a personal conversation with all of us, ”said Ericson Chan, chief information officer and digital director of the Zurich group.

“Natural language processing is essential to further improve the customer experience, complementing human interaction in the most natural way. We are very pleased that AlphaChat is joining Zurich to help us advance our digital transformation, ”Chan added.

Indrek Vainu, CEO of AlphaChat, commented: “Customer communications are increasingly moving to digital messaging channels. We are delighted to join Zurich on its digital transformation journey. Building on our first-class team and the strength of our product, Zurich is launching a center of excellence for intelligent automation in Estonia where we focus on building AI-powered messaging automation solutions for Zurich customers around the world.

Source: UK Timenews

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