L&G has 14m retail policyholders and workplace members
L&G is to launch an AI-powered customer service platform for its workplace savings, retail protection policy and annuities customers in a move which is claims will help advisers deliver better outcomes to their clients.
L&G’s new platform has been built using Microsoft Dynamics 365 Contact Centre with additional retail product lines to be added in the future under a multi-year development agreement.
The platform will analyse conversations to suggest the most relevant next steps and will highlight useful tools to support the conversation, or prompt further outreach via a customer’s preferred channels. The platform will also examine the tone and sentiment of calls, helping teams identify and manage customer vulnerabilities.
L&G claims the new system will improve customer service for both advisers and consumers.
Laura Mason, CEO of retail at L&G, said: “Our new platform will allow our teams to answer calls more quickly and deal with queries more efficiently, helping us to provide the very best support for customers at every stage of their lives.
“We’re combining our scale with Microsoft’s technology to make life simpler for our teams, give customers more personalised support, and to strengthen our operations.
“This new collaboration takes that ambition further, using AI to raise the bar while ensuring our teams can tailor support for customers who need us most.”
The provider is currently undergoing a ‘digital transformation’ of its retail business.
L&G recently launched a fully digitised claims process for protection policies, which is said has cut average claim times by nearly two weeks.
A new digital application process for annuities will save advisers up to to 14 days on each advised application, set to launch this quarter.
It also recently added open-finance tools and tailored content to its workplace pension app.
L&G has 14m retail policyholders and workplace members. In 2023, it had total individual annuity sales of £1.431bn, and issued £299m of lifetime mortgages and retirement interest-only mortgages. Its workplace pension platform served 5.2m members, while its protection businesses took in £1.991bn of UK and $1.584bn of US gross written premiums.
