-Zurich Insurance Group (Zurich) has 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.
AlphaChat is one of the most advanced start-ups in conversational AI, with a team of seasoned entrepreneurs and machine learning specialists.
The insurer said it wants to use Alphachat’s conversational artificial intelligence to try and meet increasing demand from customers for personalized products and services, 24/7. Alphachat represents a considerable reinforcement of Zurich’s AI capabilities.
Technology is playing a critical role in advancing Zurich’s customer-focused strategy by differentiating the offering, improving the customer experience, and streamlining interactions. Conversational AI is central to meeting increasing demand from customers for personalized products and services that are available around the clock.
The acquisition of AlphaChat will considerably strengthen Zurich’s conversational AI capabilities and help the Group create a consistent and efficient approach to developing Intelligent Virtual Assistants across businesses, for both internal and external purposes.
Indrek Vainu, CEO of AlphaChat, added: “Customer communications is increasingly moving to digital messaging channels. We are excited to join Zurich on their digital transformation journey. Building on our first-class team and on the strength of our product Zurich is launching an Intelligent Automation Center of Excellence in Estonia where we focus on creating AI-powered messaging automation solutions for Zurich customers globally.”