MR. K V Dipu - Senior President  & Head - Operations & Customer Service,

Bajaj Allianz General Insurance Co. Ltd.

"Sir, your claim has been settled." Rahul blinked at his phone. No endless paperwork, no waiting for a call from the insurer—just a simple notification confirming his insurance claim was processed. He hadn’t even spoken to a human.

What happened behind the scenes? Agentic AI—an advanced, self-learning system—had done all the work. It scanned Rahul’s claim, verified documents, cross-checked fraud databases, and approved the payout, all in minutes. No human intervention, no manual approvals—just lightning-fast automation powered by intelligence that thinks, acts, and learns on its own.

This isn’t a distant dream. This is the future of insurance in India.

Why Agentic AI is a Game-Changer for Indian Insurance: India’s insurance industry is a paradox—poised to touch $200 billion by 2027, yet struggling with low penetration (3.7% life, 1% non-life), slow claim settlements, high fraud risks, and inconsistent customer service. Traditional AI has helped, but it’s not enough. Agentic AI can go a step further:

1. Zero-Wait Claims Processing: Today, a motor insurance claim takes 7-10 days to settle. With Agentic AI: 30 minutes or less. By automatically assessing damages from accident photos and verifying policy details, claims can be approved in real time.
2. AI That Thinks Like a Risk Assessor: Fraud costs Indian insurers ₹45,000 crore annually. Agentic AI doesn’t just detect fraud—it predicts it. It flags suspicious claims, cross-checks hospital records, and learns from past fraud patterns to stop fraudulent payouts before they happen.
3. From Chatbots to Decision Makers: Today’s AI-driven chatbots only answer questions. Agentic AI asks the right questions before a customer even thinks of them. It proactively suggests policy upgrades, policy addons, and personalizes products based on lifestyle.
4. Hyper-Personalized, Dynamic Insurance: With India’s connected car market growing at 44% CAGR, imagine a policy that changes premiums in real time based on your driving behavior. Safe drivers pay less, reckless drivers pay more—fair, transparent, and powered by AI.

The Future Is Already Here: India is catching up this AI bandwagon —Bajaj Allianz already leverages AI-powered claim approvals, and Agentic AI will be the next big leap. Imagine an insurance ecosystem where:

• Your car files its own claim after an accident
• Health insurance adjusts itself as your medical history evolves
• Fraud detection is instant and human error is eliminated

As India moves toward “Insurance for Everyone”, Agentic AI will reshape the industry, making insurance smarter, faster, and fraud-proof. The question is no longer if we will embrace Agentic AI—it’s how fast we do it. Are we ready to let AI take the wheel? Because the insurance industry is.