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bunq Bolsters AI-Driven Banking With AI Chatbot Upgrade, and Leverages Embedded Insurance With Qover

European neobank bunq has joined forces with insurtech firm Qover, to give its users across seven markets access to worldwide, one-time activation travel insurance. The neobank has also successfully upgraded its user-facing assistant ‘Finn’, making it fully conversational.

Qover’s agility and expertise in embedded insurance solutions enabled this onboarding. Insurance features such as a fast claims process and easily accessible travel certificates have been integrated to enhance the user experience through bunq’s app.

Quentin Colmant, CEO and co-founder at Qover, commented: “Collaborative spirit is the cornerstone of our successful partnership. Together with bunq, we prioritised delivering an exceptional user experience for Eva, bunq’s model user. This commitment extends beyond the insurance product itself, encompassing outstanding AI-powered customer care and a streamlined claims process.”

A crucial aspect of this partnership is embedded insurance orchestration, available on bunq’s ‘Easy Bank Pro XL’ plan. Qover’s extensive claims data dashboard, which analyses clauses that typically lead to rejections, empowers bunq users to easily make claims when they need to.

Ali Niknam, founder and CEO of bunq, also said: “We’re making travel insurance effortless together. It’s exactly the peace of mind we want our users to have, whether they spend, save or travel with bunq.”

Qover has invested heavily in improving its customer support and claims capabilities through automation and AI-powered processes, which will further enhance the support that its team provides to bunq’s users in ensuring a seamless user experience throughout the travel journey.

Backing AI-driven banking

bunq has also made moves to bolster its AI-driven banking experience, by upgrading its AI money assistant. ‘Finn’, which has already answered over 100,000 questions since December 2023, can now answer back-to-back questions and provide deeper insights into users’ finances twice as fast as previously.

Finn will tackle users’ questions regarding their bank accounts and spending habits, as well as recommended places to visit in new cities including cafes, restaurants and bars, based on reviews by other bunq users.

The upgrade also unlocks conversational capabilities that look to set Finn apart from other chatbots. Besides engaging in natural conversations and storing the history of users’ interactions with Finn, the AI assistant will serve as an extension of the bunq app, providing personalised, context-rich answers.

“At bunq, we use the latest tech to make our users’ lives easy,” Niknam explained. “We’re thrilled to see so many of our users embrace Finn in their daily lives and can’t wait for them to have a chat with the all-new Finn.”

As well as effectively replacing the search function in the app, bunq uses AI to handle user support questions. Finn is currently independently solving up to 40 per cent of user support questions, and assisting with 75 per cent, every day, helping users tackle any issues they might have while using bunq.

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