AXA launches new AI-powered financial health tool

The tool measures a customers financial health whilst offering solutions.

AXA Insurance has introduced a new AI-powered financial planning tool to help customers keep track of their financial health and discover solutions that can address their needs and goals.

Called MyFinScore, the tool helps a customer measure their financial satisfaction score calculated using an individual’s financial goals as well as existing savings and protection coverage, against simulated personal and market risks that determine one’s future financial health. Additionally, it will also offer customized product recommendations to help customers improve their score.

MyFinScore comprises a series of questions that cover personal finances, financial priorities, goal aspirations, lifestyle expectations, and risk tolerance, and can be completed in three minutes.

After responses are submitted, the user will immediately be able to view their personal financial satisfaction score (measured on a scale of 1 to 100) and recommendations for the most suitable AXA solutions across life protection, savings and investment, based on affordability as well as needs and goals, to help improve one’s score as best as reasonably possible.

The user can then opt to provide their contact information so that their financial consultant can get in touch with them for a more in-depth review and discussion. Following which, they can also choose to download the information in a report.

“We know that financial planning can be a daunting task, and that’s why we’re making the experience simpler for our customers today. With My FinScore, they can easily get a good sense of where they are in their financial journey anytime, along with suggestions on how to make improvements so they can be empowered to take concrete actions,” said Li Choo Kwek-Perroy, Managing Director, Life, of AXA Insurance.