NTUC Income to develop an AI insurance agent

NTUC Income, one of the largest general and health insurance providers in Singapore, has collaborated with New Zealand-based JRNY to develop an AI insurance agent which is in the early stages of development.

The AI insurance agent seeks to help Income’s 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 volumes of inquiries.

Income expects the project to take approximately four months to develop and once it is completed, customers will be able to interact with the new digital agent from its website.

“Together with Income, our aim is to make insurance simpler to understand and buy, helping more Singaporeans be protected better and contributing to a reduction in the protection gap.” – JRNY CEO Michael Lovegrove.

“Sometimes, people have a poor perception of insurance – that it is confusing and difficult. But there is a real opportunity for technology to help make insurance easier to understand, purchase and manage.” – Income head of transformation Max Tiong.