Deloitte: Life insurers need new foundations to scale agentic AI
Deloitte released a paper on Wednesday setting out how Asia Pacific life insurers can move from experimenting with agentic AI to deploying it across their operations. The strategic question, the consulting firm argues, is no longer whether agentic AI creates value-it's whether insurers have the right infrastructure to realise that value at scale.
Life insurers face pressure from multiple directions. Customer expectations have shifted toward the speed and convenience of fintech and e-commerce platforms. Regulators demand greater transparency. Growth targets are rising. At the same time, many insurers still operate on systems built for a different era.
Agentic AI-systems that orchestrate decisions, data, and actions across an enterprise-offers a way to close that gap. Early adopters are already seeing measurable results in claims, underwriting, and policy servicing.
The numbers
Deloitte cites illustrative benefits where agentic AI is implemented with clear accountability and governance:
- 20-30% faster product refresh cycles
- 10-20% uplift in conversion rates
- 30-50% reductions in underwriting and claims decision cycle times
- 20-35% reductions in servicing costs
- 15-30% improvements in forecast accuracy in finance and risk
Across Asia Pacific financial services firms, 21% report moderate use of agentic AI today. That figure is expected to jump to 78% within two years, with 26% anticipating extensive or fully integrated use across operations.
Yet adoption remains uneven. While life insurers have launched pilots quickly, only a small fraction have scaled them enterprise-wide. Those who have are seeing material improvements in cost structures and customer experience.
Six foundations required
Deloitte identifies six capabilities that insurers should prioritise to move from pilots to sustainable deployment:
- An outcome-based operating model
- Zero-Ops mindset and value-focused thinking
- Modern, composable architecture
- Governance for trustworthy AI
- Data quality and responsible AI
- Talent, culture and human judgement
The firm cautions that agentic AI amplifies whatever it is given. Unclear processes, weak decision-making, and fragmented data will still produce flawed outcomes-just faster.
Human judgment remains essential in emotionally significant moments. Claims processing, reassurance, and clarity cannot be fully automated. The most effective insurers combine intelligent automation with human-centred service, using technology to free staff for interactions that matter most.
Next steps
The paper outlines seven practical actions that insurance leaders can begin today to capture near-term value while building long-term capability. The full report is available from Deloitte Asia Pacific.
For insurance professionals looking to understand how AI for Insurance and AI Agents & Automation work in practice, Deloitte's findings provide a concrete roadmap for moving beyond experimentation.
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