NN Group NV, one of the Netherlands’ largest insurance companies, has announced the replacement of outdated, pre-programmed chatbots with more sophisticated artificial intelligence systems capable of engaging with clients in a natural manner. The change underscores the persistent yet uneven deployment of AI across Europe’s financial services industry, a report from Bloomberg highlighted.
Speaking during the company’s investor day on Tuesday, chief executive officer David Knibbe acknowledged the limitations of traditional digital assistants. “I know very few people who like chatbots,” he said. “When clients get an AI assistant on the line rather than an actual person, their most frequently asked question is, ‘Can I speak to a human being?’”
In addition to revamping its digital interface, NN Group has introduced a new AI support tool to assist call-centre employees, leading to a noticeable improvement in the quality of responses provided to customers, Knibbe said.
The insurer plans to invest €450 million in digital innovations through 2027, a strategy expected to generate €180 million in savings, partly through workforce reductions and incremental revenue gains.
The update comes as financial firms across Europe face growing pressure to integrate emerging technologies, despite the complexity and unpredictability of AI adoption. The learning curve is steep, Knibbe admitted, noting past missteps in the company’s early AI rollout. NN Group had previously focused on cross-selling and product development without considering how scalable those AI applications would be across its operations.
However, Knibbe pointed to recent progress, such as a marketing model developed in Poland that was later adapted for use in Romania, as evidence of a more coordinated approach.
Elsewhere in the sector, Sweden’s Klarna Group Plc recently reported a slowdown in AI-driven job cuts, with CEO Sebastian Siemiatkowski cautioning against prioritising cost over quality. “What you end up having is lower quality,” he said earlier this month.
Knibbe acknowledged NN Group’s early struggles with AI, noting made “a lot of mistakes.”
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