Artificial intelligence (AI) is perhaps the most transformative technology since the industrial revolution. It is reshaping how people work, make decisions and interact with the world around them.
At Aegon, our businesses are already putting this technology to work in ways that make a real difference for their customers. Guided by our purpose of Helping people live their best lives, our businesses are using AI to simplify processes, reduce friction and make it easier for customers to make important decisions about their finances.
This matters because for many customers, buying life insurance or managing retirement savings, is still perceived as complex, time-consuming and paperwork-heavy. Research shows that people often struggle to understand product features, pricing and next steps. AI gives us new ways to remove those barriers — not by replacing human judgment, but by enhancing it.
Scaling AI across Aegon
Today, multiple AI initiatives are underway across Aegon, spanning the US, Brazil, the UK, Spain and China. These initiatives cover a wide range of use cases, including customer engagement, productivity, fraud detection, research support and automated decision making. Together, they show how rapidly Aegon is scaling AI to simplify processes and improve outcomes for customers.
“Our philosophy is simple: we combine AI with human expertise to deliver better results,” said Deb Waters, Aegon’s Chief Technology Officer. “We invest in AI where it improves outcomes, strengthens risk controls and frees up capacity for higher-value work. Some innovations are visible to our customers, such as digital assistants. Others work in the background, helping our employees provide faster, clearer and more consistent service.”
Transamerica: cutting account rollover time by 50%
A strong example of AI’s customer-facing impact is Pearl, the AI-enabled assistant launched by Transamerica to help retirement plan participants roll over their accounts.
When people change jobs and join their new employer’s retirement plan, they often move their savings from previous plans into the plan sponsored by their current employer (the plan sponsor). Traditionally, that process could take 60 days or more, due to extensive paperwork and delays between process steps. With Pearl, that time has been reduced to around 25 days.
When a plan participant engages with Pearl, they are given a secure, personalized digital “room,” accessible 24/7. In this space, they can upload documents while receiving step-by-step guidance and timely prompts for follow-up actions. Pearl coordinates key steps – from account verification to the secure transfer of funds – keeping the entire process clear, structured and on track. All processing steps, however – such as the transfer of funds – involve a human.
The power of combining AI with human expertise
Pearl is more than a digital workspace. What sets it apart is how it combines the efficiency of AI with the reassurance of human support – all within one continuous and secure environment. Customers can move seamlessly between self-service and expert support whenever they choose. When needed, a Transamerica representative can join the conversation directly within the participant’s digital room, ensuring continuity, clarity and trust.
Early results are encouraging. Since its introduction in mid-2025, around 40% of plan participants using Pearl have started the rollover process outside of regular office hours. Customer satisfaction has increased, and plan sponsors are keen to see this blended AI and human engagement model applied to other parts of the customer journey.
“We’re seeing strong satisfaction among both participants who use Pearl and plan sponsors,” said Oriana Freidenberg, head of Customer Experience and Marketing at Transamerica, adding that “based on the early successes of Pearl with asset consolidation, we’re now looking at scaling this capability to other friction points across the customer journey, both in retirement and insurance.”
Research supports these results. Transamerica emerged as the biggest mover in plan participant experience, with a five-point increase that lifted it to eighth place in the 2025 DC Participant Website Experience Benchmark, which assesses the digital experience of 18 leading U.S. retirement plan providers.
MAG Seguros: benefit payments in 24 hours
In Brazil, MAG Seguros (MAG) is using AI to speed up life-insurance claims, providing families with timely clarity and support during critical times.
At the heart of this transformation is BenLev, MAG’s new AI enabled platform, which aims to shorten the full claims process from around 18 days today to as little as 24 hours. Since BenLev’s introduction in 2023, that target is coming in sight: MAG has already reduced payout times for its pension-related products to eight days. For temporary disabilities and other instances where automatic settlement is applicable, claims are already being processed and paid in 24 hours. As BenLev expands to other claim types, MAG expects that more categories will also progressively move toward the 24-hour model.
BenLev automatically checks documents, validates information and moves each claim through the required steps — work that previously required multiple manual reviews. For customers, this means quicker answers and fewer delays during a difficult moment. For employees, routine checks and paperwork are automated, allowing them to focus on supporting families. All of this is possible thanks to MAG’s modernized, 100% cloud‑based technology foundation, which enables fast, secure deployment of AI innovations.
Aegon UK: Using AI to improve customer conversations
AI is also making an impact behind the scenes.
Aegon UK is starting to use AI to better understand and improve customer conversations. The AI analyzes customer calls, generating transcripts, summaries and sentiment insights, while identifying follow-up actions. This replaces time-consuming manual call reviews and helps provide the call handler with a clearer, more complete view of each customer’s situation across all interactions.
For customers, this results in smoother follow‑up conversations. Call handlers can immediately see what was discussed previously, so customers do not need to repeat themselves and receive more informed, relevant support.
For Aegon UK teams, the benefits are just as clear. By reducing manual work and bringing the right information together in real time, AI helps colleagues at Aegon UK better understand each of their customers’ needs. It also makes it easier to spot emerging trends and potential risks earlier, supporting better decisions and ongoing improvements in customer service.
Responsible AI, built on trust
As we continue to scale AI across Aegon, we are equally mindful of the responsibility that comes with it. Trust is the foundation of our relationship with customers.
That means using AI transparently, securely and fairly and in line with applicable regulations, such as data privacy or AI-regulations. We are committed to protecting data, reducing bias, keeping humans accountable for critical decisions and ensuring our technology always serves people – not the other way around.
By combining innovation with strong governance and human judgment, we believe AI can be a force for good: improving access, clarity and confidence, while upholding the ethical standards our customers expect and deserve.