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Zurich Insurance Group to Acquire Estonia’s AI Firm AlphaChat | Fintech Finance

March 2 2022

Zurich Insurance Group to Acquire Estonia’s AI Firm AlphaChat

Zurich Insurance Group has agreed to acquire Estonia-based conversational AI company AlphaChat.

AlphaChat’s customer service automation technology will help to enhance Zurich Insurance Group’s conversational AI capabilities, and support the development of Intelligent Virtual Assistants for both internal and external business purposes, a statement said.

The 2017-founded startup provides a messaging automation product capable of understanding natural language, authenticating users, providing personalised responses and executing transactions.

“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,” said Ericson Chan, Group Chief Information and Digital Officer at Zurich Insurance Group.

“Building on our first-class team and on the strength of our product Zurich is launching an Intelligent Automation Centre of Excellence in Estonia where we focus on creating AI-powered messaging automation solutions for Zurich customers globally,” said Indrek Vainu, CEO of AlphaChat, added.

 

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