How chatbots are simplifying pensions and life insurance

Leading Turkey-based private pension and life insurance company Anadolu Hayat Emeklilik has partnered with Cbot to create an artificial intelligence-based chatbot named AHE Asistan.

Banks, insurance, private pension companies, fintechs and other financial institutions have all realized that the future of customer interaction in the financial industry is quite conversational and based on artificial intelligence (AI). Now that banks and other financial institutions recognize the power of AI-driven chatbots to create contextual, predictive and personalized experiences, they are increasingly using these chatbots or conversational interfaces to better interact with their customers. AI-powered chatbots and virtual assistants have become the crucial components of their digital transformation strategy.

Anadolu Hayat Emeklilik, a pioneer and innovative player in the sector, has partnered with conversational AI company Cbot to provide its customers with an AI-based chatbot that instantly answers their questions about private pensions and life insurance products. The İşbank subsidiary is the first life insurance company and the first publicly traded private pensions company in Turkey. It is a sector leader that generated Turkey’s largest funds in the aggregate of life insurance and private pension system. The company continues to serve its customers through its regional offices, bancassurance network, the direct sales team and approximately 250 agencies, as well as online and mobile branches.

AHE Asistan, the AI-based chatbot, is developed by Cbot to help the company’s customers wherever and whenever they need through a conversational interface. Anadolu Hayat Emeklilik’s customers and non-customers can access a large volume of information about private pension and life insurance fields through the company’s web page and online branch. Considering that these two fields are perceived as complicated topics that require a level of regulative and practical information, AHE Asistan has a crucial role in educating the public on financial issues that are important for their future and their current financial well-being.

The AI-based chatbot is uses natural language processing (NLP) and machine learning technologies to learn and understand natural human statements and provide relevant instant responses. Cbot developed the product based on its advanced NLP engine and proven expertise in the financial sector chatbots. The chatbot can answer a wide range of frequently asked questions about topics related to private pensions and life insurance. Besides public information, it can generate sales leads for private pension system and life insurance products. In the authorized fields, AHE Asistan can inform the customer about the pension accounts, the right to withdraw or leave the pension system and the amount of accumulated assets. If the customer wants to learn when they have the right to retire, the chatbot directs them to the simulation page so they can get the necessary information to calculate the age of retirement. 

Through AHE Asistan, Anadolu Hayat Emeklilik aims to provide a more natural and direct way of interaction and a better digital experience to its customers, and make the field of pensions and life insurance simpler and clearer for the public.