Dutch pension asset manager APG is currently developing ChatAPG, an AI-powered tool that combines internal information sources to help employees quickly find answers without switching systems, and expects it to be fully operational by the end of 2025.

APG’s Client Contact Center (CCC) manager, Stefan Ochse, said technology is playing an “increasingly important” role in APG's services.

“AI is rapidly becoming the norm. People now use ChatGPT or Copilot for everything from planning vacations to summarising texts. Therefore, it’s not surprising that they also expect their pension provider to utilise technology in this manner. If you want to be taken seriously as an organisation, you have to take that step,” he said.

However, Ochse said that implementation has "not been easy".

He expanded: "We have been working on it for a year and a half, including risk analyses, checks, source references, and human control."

He noted that the effect is "significant" as employees are better supported, and participants receive faster and more accurate answers.

Ochse emphasised that this tool does not mean APG is using AI to replace people; instead, he said it is using AI for simple or repetitive questions, such as the status of an application.

“However, when empathy is crucial, such as in the event of a death or divorce, personal contact remains indispensable. The human touch remains paramount,” he said.

Looking to the future, Ochse said APG sees opportunities in advanced voicebots, which could take over part of the conversation, but stressed that “quality and safety come first”.

In his view, AI and digitalisation are not only altering the methods of client interaction but also the reasons behind it. He expects participant interaction to become more intensive but also more substantive.

“The renewed pension system will give participants more insight into their personal pension accrual and encourage them to ask questions sooner, for example, about asset development or the geopolitical impact on their benefits”, he said. “This will lead to more conversations.”

Additionally, he highlighted the “major opportunity” this presents for pension funds, as increased interaction results in more participant insights.

“By monitoring client behaviour and questions, funds can better assess whether policies are effective, whether communication is getting through, and whether participants have concerns,” he noted.

“You can make adjustments quickly, which makes client contact strategically relevant.”

The move to AI comes as APG handled nearly 493,000 participant interactions in 2024, across the eight pension funds that APG oversees.

Ochse explained that these communications involved talking about “emotional and impactful” life events such as retirement, death, or moving in with a partner and how this affects their pension.

He added that it was “striking” that people often already have information or have looked it up themselves before making a call, which makes the conversations more “substantive”.

Indeed, the types of questions customers have are “more complex” now than 10 years ago and often concern personal situations or changes in the pension system.

Ochse said there is intensive training in this area, as staff must not only be well-trained in the subject matter but also skilled in conversation techniques and have the ability to quickly assess what kind of explanation is needed.
 

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