Artificial Intelligence: Zurich Insurance Snaps Up AlphaChat To Automate Customer Service

https://dailyalts.com/wp-content/uploads/2021/12/abstract-g83934b592_640-overlay.png

AlphaChat is an Estonia-based startup specializing in conversational AI.

Zurich Insurance Group has acquired Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation. The terms of the acquisition were not disclosed. (ITIJ)

Conversational AI – the use case for Zurich

Zurich said in a statement that the deal would enhance the Group’s digital capabilities, in particular, its customer-focused strategy by differentiating the offering, improving the customer experience, and streamlining interactions.

The Group reported increasing demand from customers for personalized products and services that are available around the clock, boosting the case for conversational AI.

As such, the acquisition would strengthen its 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.

Founded in 2017, AlphaChat has developed a conversational AI platform capable of understanding natural language, authenticating users, providing personalized responses and executing transactions, making communication with customers seamless.

“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,” revealed Indrek Vainu, CEO of AlphaChat.

Computers should converse with us

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.”

Related Story: Genesys Closes $580M Round Led By SalesForce Ventures

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/01/Bink-app-shot.png
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-22-29-49-Screenshot-Pawson-2.png
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…

https://dailyalts.com/wp-content/uploads/2022/01/47752022922_e4569a2f0e_c.jpg
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-18-48-26-超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…