In Singapore, NTUC Income has partnered with NZ-based JRNY to develop an AI insurance agent. The project is at a nascent stage and will be completed in four months.
The AI agent is being developed with an aim to help customers understand better what type of insurance policies they might need. It will also help make the insurer’s agents more efficient in dealing with large volumes of inquiries. The new agent will be available via NTUC’s website.
The project will help to simplify the insurance buying process and will play a key role in closing the protection gap, thereby increasing insurance penetration.