Sanlam Studios’ digital financial coach – first launched in mid-2024 to help clients understand and manage their credit – has evolved into a far more sophisticated platform, now also offering guidance on medical aid, primary care and gap cover.
The innovation, developed within the Sanlam Fintech cluster, is designed to offer clients personalised, judgment-free financial guidance around the clock. But as it broadens its reach, it also gives a glimpse of what may lie ahead for the financial advice industry – and raises the question of how such technology could influence the traditional adviser-client relationship.
From credit to comprehensive cover
In its first iteration, Sanlam’s AI Coach specialised in credit-related matters only: it can access a user’s credit report, explain their credit standing, offer repayment guidance, and even help draft letters to creditors. Using large language models (LLMs) and curated financial content, the platform aims to educate consumers and generate leads for further financial advice.
According to a case study titled Money talks: How Sanlam Studios’ AI Coach drives leads and financial literacy, the platform was designed to bridge the gap for people who need financial guidance but are hesitant or unable to consult an adviser. The AI interface combines text and visual flows to keep users engaged.
Beyond education and engagement, the tool also recommends relevant Sanlam products and transfers users to human advisers when more complex needs arise. By maintaining a “judgment-free persona”, the coach encourages users to seek financial help without the perceived stigma of admitting financial difficulties.
Expansion into medical health solutions
The latest upgrade marks a significant broadening of scope. According to Sanlam Studios’ chief operating officer, André Fredericks, “bringing medical health solutions into our AI Coach offering is an intuitive move towards helping our clients obtain optimal financial well-being”.
He said Sanlam’s research and client engagement found a clear need for integrated support that links day-to-day money management with the financial pressures created by healthcare costs.
“With this new level of functionality, our clients can make informed decisions in areas of their lives that have a direct impact on their financial standing,” he said.
Clients can now use the AI Coach to explore Sanlam’s full suite of health offerings, including medical scheme cover, primary care, and gap cover. The addition allows users to compare options, structure cover according to their needs, and identify potential savings.
Balancing innovation with data protection
Fredericks emphasised that cybersecurity and privacy remain at the centre of the platform’s design, particularly as financial and medical data converge.
“We view the safeguarding of this personal information as non-negotiable,” he said.
The AI system anonymises identifiers, including medical details, before processing them through LLMs. This ensures user privacy while retaining enough contextual data to offer meaningful, personalised support.
“This balance between security and user experience allows clients to confidently engage with the platform, knowing their personal health and financial information remains protected,” Fredericks said.
What comes next
According to Tshepo Mogotsi, head of communications at Sanlam Fintech, the initiative reflects the group’s long-term ambition to use technology to expand access and affordability.
“Although Sanlam Fintech is less than three years old, we are proud to already be pioneering such novel digital solutions,” he said. “Ultimately, this aligns with the group’s ambition to enable South Africans to live with confidence, every day.”
The Sanlam Studios team told case study author Sam Burns that it plans to expand the AI Coach further into new verticals, including insurance, estate planning, savings, and investments. Development is also under way to make the platform accessible across additional digital channels – particularly WhatsApp, where more than 90% of Sanlam’s customer base already interacts.
A glimpse into advice of the future
Although Sanlam’s AI Coach is not positioned as a replacement for human advisers, its rapid evolution underscores how technology is reshaping client engagement and financial literacy.
The model – blending automation, education, and human follow-up where needed – may offer a preview of how digital tools could complement or compete with face-to-face advice in the years ahead.
