Insurance build cycle of 6 to 12 months cut by agentic AI

Whitepaper outlines factory model enabling faster iteration and product testing.

Synpulse and AI specialist 360F said agentic artificial intelligence (AI) can reduce the time it takes to develop insurance products, which typically takes six to 12 months.

Their joint whitepaper, titled The Last Slow Industry: How Agentic AI Will Reshape the Way Insurance Products Are Built, identifies why creating insurance products currently takes between six and twelve months. 

It proposes a new "Agentic Insurance Product Factory" to automate the mechanical aspects of product design, such as pricing models, underwriting rules, and policy structures.

In a live trial, the AI system generated production-grade technical specifications and launch playbooks for an insurance brief in a fraction of the traditional timeframe. 

The authors argue that whilst AI handles the data-heavy documentation, human staff can focus on high-level decision-making and creativity.

Anirudh Somani, Chief Product Officer at 360F, stated that the technology allows insurers to test and iterate products faster, creating a competitive advantage through continuous learning. 

The paper suggests this shift will lead to better product personalisation and improved regulatory transparency, as the AI-generated files are machine-readable and ready for auditing.

Sujin Saj, Managing Director at Synpulse Southeast Asia, noted that the breakthrough makes it financially and practically possible for insurers to respond to market changes with higher precision.

The publication draws on data from across Asia, Europe, and the Middle East.