Insurance technology is rapidly evolving. Agentic AI is an autonomous system capable of decision-making, strategic planning, and learning from experience. It is an advanced version of generative AI that solves problems step by step.
When assigned a task, the AI determines the necessary steps. Users can review them or allow the AI to act independently.
Its effectiveness relies on comprehensive, verified data. It evaluates client needs, budgets, and policies to select the right product. Additionally, it can interact via voice agents.
Across the insurance ecosystem, agentic AI is being deployed, from policy creation to claims resolution. It automates marketing, sales, and communications. Traditionally, sixteen steps are required for a sale, all of which AI can manage.
While AI can prepare new business leads, licensed professionals must finalise sales. Key challenges include data verification, bias, security, transparency, and regulatory compliance.
Agentic AI transforms workflows rather than replaces jobs. It is a productivity tool that enhances efficiency and frees humans for creative work.
Key Elements of Agentic AI
| Aspect | Details |
|---|---|
| Technology | Autonomous, thinking AI |
| Capabilities | Decision-making, strategic planning, learning |
| Application Areas | Policy creation to claims resolution |
| Human Role | Required for final sales |
| Challenges | Data verification, security, bias, transparency |
| Benefits | Increases productivity, frees time for creative work |
AJ
Source- InsuranceJournal