In Singapore, Panda.ai has partnered with Great Eastern Life to power its chatbot proposition. Panda.ai is an AI chatbot developed for financial services, which serves Fortune 500 companies such as UBS, Schroders, Allianz and UBS across Malaysia, Singapore, Taiwan and Thailand.
Great Eastern Life chatbot GERICA has been integrated with Pand.ai’s new AI engine called TE01, which is powered by Natural Language Processing (NLP). The engine will help agents to check claim status and policy details on the run and is expected to slash errors for intent classification by up to 25%.
Pand.ai is one of the first companies which will deploy Transfer-Learning based NLP chatbots commercially. Last year, it won a competitive open tender to build an AI chatbot for Great Eastern Life Singapore on the strength of TE01, a prototype at that time. Since then, models generated using TE01 have been put into production, starting with the launch of Great Eastern Life’s GERICA.
Tan Meng Siong, Senior Vice President of Digital Transformation at Great Eastern, said: “A key objective for us was to build the best chatbot for our financial representatives and customers and to take financial advisory to the next level, thus we wanted to work with a deep-tech solution provider that has the best technology and the most experience in the insurance domain. We were impressed by Pand.ai’s state-of-the-art TE01 engine. Since GERICA made its debut in April, we have seen very high satisfactory score and deep engagement between the chatbot and our pilot group of users, with some financial representatives asking GERICA hundreds of questions in a week.”