Agentic Workforce: The next evolutionary stage of AI
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When we talk about agents in the insurance industry, we usually mean the insurance agents who sell policies on behalf of the insurer. However, it can also be worthwhile for the industry to invest in artificial intelligence (AI) agents. An “agentic workforce” can increasingly take on responsibility, make decisions and control entire processes. It can support human employees in everything from claims processing to portfolio management.
What are two AI agents on one server? Answer: an “agentic workforce”. Few terms are used as regularly in the insurance industry as “agent”. But recently there has been one more agent: the AI agent. After explaining why AI agents are relevant in my column in March, I would like to focus this time on the fact that AI agents will increasingly take on responsibility, make decisions and control entire processes. They are the nucleus of an “agentic workforce”.
What makes an AI agent?
A particularly catchy definition can be found at US venture capitalist Bessemer Venture Partners and is based on five core elements:
State & Perception: AI agents have an internal state - typically in the form of a so-called foundation model - and can perceive and interpret their environment. Foundation models are neural AI networks that have been trained with large data sets to handle a wide range of tasks.
Intelligence & Logic: They are capable of deductive reasoning - including planning, reflection, learning and self-assessment.
Ability to act: AI agents carry out actions independently - for example by writing emails, triggering workflows or communicating with third-party systems.
Complexity capability: They handle dynamic and multi-level tasks that typically require human expertise.
Reliability & authorizations: AI agents operate with clear access rights and responsibilities - comparable to identity and access management in IT security.
What does this mean for insurers?
The insurance industry is particularly predestined for an “agentic workforce”: high information density, document-centered processes, repetitive but complex decision-making logic and an increasing burden of regulatory requirements. AI agents offer a double opportunity here: they increase the efficiency of existing processes - and at the same time enable completely new operating models.
The very first examples are already in production: in claims processing, agents orchestrate documents, analyze correlations and thus support claims experts. In portfolio management, AI agents provide support by analysing and categorizing entire portfolios by subject matter. Humans remain in the loop - but increasingly at a much higher level.
Beyond efficiency - towards new forms of organization
The most remarkable insight, however, is probably the speed at which technology is developing. The most important message to insurance executives is to start implementing AI. Or as Bessemer puts it: 'If you don't believe in the immediate possibility of an AI-based world of work, there is a risk that this is precisely an illusion.
German Version: Agentic Workforce: Die nächste Evoutionsstufe der KI
Original published version: Agentic Workforce: Die nächste Evoutionsstufe der KI