Agentic AI in everyday insurance?

How AI is revolutionising the underwriting process

Together with our colleagues from adesso Switzerland, we took part in the Zurich Insurance Group's Agentic AI Hyper Challenge. The goal? To develop an innovative solution for the underwriting sector and thus actively shape the future of Agentic AI.

The challenge – underwriting in the German insurance market

Underwriting in the German insurance industry faces complex challenges. Regulatory requirements such as data protection (GDPR) and ESG criteria require precise risk assessments, detailed documentation of decisions and extensive data analysis. New risks such as cyber attacks, climate change and pandemics increase complexity, while customers expect fast, transparent and personalised results. At the same time, fragmented data sources, incomplete information, exclusively analogue data and outdated IT systems without the necessary interfaces make the work more difficult. Added to this is the challenge of finding qualified personnel. Due to the high level of technical and specialist knowledge required about potential risks, training is lengthy and extensive. At the same time, there is considerable time pressure, which leads to a trade-off between overlooking risks and the time invested per contract. To overcome these challenges, insurers must invest in modern technologies, automate processes and, at the same time, maintain a balance between efficiency and human expertise.

The Zurich Insurance Group's Agentic AI Hyper Challenge

With the Agentic AI Hyper Challenge, Zurich Insurance Group has launched an initiative in the insurance industry that focuses on the use of autonomous agents. In just a few weeks, over 1,000 participants from more than 40 countries developed over 200 working prototypes that addressed real-world use cases in underwriting, marketing and sales, claims settlement and financial reporting. The solutions range from AI agents that automate risk assessments to intelligent systems that generate financial reports or optimise marketing campaigns. The Hyper Challenge brought together internal teams, external engineers, start-ups and technology companies in a hackathon format. The results demonstrate the enormous potential of Agentic AI to transform insurance processes while creating measurable added value for customers and companies.

The adesso solution

Agentic AI in the insurance industry: autonomous intelligence for a new era

Agentic AI represents an innovative approach based on artificial intelligence (AI). AI is currently revolutionising the insurance industry: from fraud detection and claims settlement to the personalisation of insurance products, AI enables a more efficient and data-driven way of working. At the same time, it helps to better understand and manage new risks and rapidly changing requirements.

What is Agentic AI?

Agentic AI describes autonomous software agents that are able to act independently to connect AI and automation tools. These systems can:

• understand tasks,
• find solutions,
• make decisions and
• adapt procedures to changing contexts.

The advantages of Agentic AI in the insurance world

• Simplified process control: Dynamic response from connected tools
• End-to-end process automation: Increased automation through flexible decision-making
• Improved customer experience: Increased satisfaction and response speed through proactive and personalised interaction
• Simplified communication: Escalation of special cases to employees, direct communication with customers in standard cases
• Increased flexibility: Independent response to changing requirements

An agent in just a few weeks: Our approach to the Hyperchallenge

Participating in the Agentic AI Hyper Challenge presented us with an extraordinary task: within a short period of time, we developed a proof of concept (PoC) for a complex and previously unknown use case in the field of underwriting. To do this, we used the UiPath automation platform and tools such as UiPath Maestro and UiPath Agentic AI, which we had to master in a very short time.

Within 48 hours, we put together an international team of experts from Germany and Switzerland. Despite our different backgrounds, ranging from AI engineers and business analysts to front-end and back-end developers, we accepted the challenge and developed a strong team spirit that transcended national borders. Not only did we achieve impressive results, we also developed an innovative, operational platform solution that is tailored to the daily challenges of underwriting in contract review.

Conclusion

This challenge impressively demonstrates how quickly and effectively innovation can emerge when the right minds and technologies come together – a true testament to our commitment to the digital transformation of the insurance industry.

Essentially, the success of the project shows us one thing above all else: ONEadesso works, even across national borders. Not only did we pool our expertise, we also brought together people from a total of three countries, combined seven perspectives into one goal and played to our strengths in an ideal way.

With 48 hours of preparation and two weeks of work, we can be proud of the result and say: ‘We'll just do it’.