Global Investment Firm Scales Retirement Plan Support with AI

Overview

A global investment management firm launched Service Reimagined as a major initiative to transform participant support with AI. The goal was clear: reduce wait times, automate routine interactions, and elevate the retirement plan experience without expanding the support team.

To support this effort, the firm implemented AI for Service from Kore.ai, enabling automation that could scale across complex, plan-specific interactions while delivering fast, accurate, compliant support for retirement plan participants.

The Challenge

The firm supports millions of retirement plan participants, each governed by unique rules tied to their individual plans. Routine requests such as address updates, loan status checks, and withdrawal inquiries often required manual validation or contact center support, slowing down service and increasing operational costs.

Key pain points:

• High service volumes overwhelmed teams and slowed response times
• Manual handling of plan-specific rules caused delays and limited automation
• Rising support costs strained operations while satisfaction declined
• A strategic shift to AI-first operations created pressure to modernize quickly

The Solution

The company implemented AI for Service as part of its initial transformation and deployed its first AI agents to automate participant address updates, fully tailored to each retirement plan’s rules. After demonstrating strong early value, the team expanded automation to additional high-volume use cases to:

• Streamline loan status inquires and eligibility
• Accelerate balance inquiries with real-time account information
• Simplify withdrawals, eligibility status, and execution

With these workflows fully automated, VWS is reducing operational load and moving faster toward its strategic goal of delivering AI-driven, scalable participant support.

Business Impact

Within just a few months, the firm delivered measurable improvements that directly addressed its biggest service challenges:

• 85 percent success rate across automated interactions, demonstrating that AI Agents could reliably handle plan-specific logic and complex workflows
• End-to-end automation for withdrawal requests, eliminating a major source of manual workload and participant wait time
• Consistently high satisfaction, with participants rating the new automated experiences as very positive
• 3.1 million dollars in estimated annual savings, driven by reduced operational effort and more efficient service handling
• Reduced dependence on live agents, enabling staff to focus on complex, high-value participant needs rather than repetitive tasks

Together, these gains show how the firm's initial deployment of AI for Service is accelerating its broader transformation, modernizing operations with intelligent automation that improves participant experience, strengthens operational efficiency, and sets the foundation for continued AI-driven innovation.

Client Testimonial

“Delivering AI agents is just the start of our journey, not the finish line. With Kore.ai’s platform, we’re able to scale widely by adding more intelligent agents, while also diving deep into their performance data to continuously refine and improve. This partnership empowers us to move faster, learn smarter, and elevate the customer experience at every touchpoint.” - Leadership Team

The Kore.ai Advantage

Kore.ai empowers businesses to modernize participant service with AI Agents that automate complex financial interactions with precision, compliance, and scale. The platform leverages agentic AI built for financial use cases, orchestration across systems to complete transactions end to end, and plan-specific logic that personalizes every workflow. With these capabilities, businesses are able to streamline operations, reduce manual effort, and deliver faster, more reliable support to millions of participants. This foundation positions the company to continue expanding AI-driven automation across its services, while offering a strong example for other financial institutions looking to advance their own transformation.