Keith Raymond, Principal Analyst at Celent, is at the forefront of research on process automation across the insurance value chain. His latest work includes a Celent report series analyzing how generative AI is reshaping the industry.
One standout piece, Agentic AI: The Future Is Coming Soon to an Insurer Near You!, explores the transformative potential of agentic AI in insurance.
What Is Agentic AI? #
Agentic AI refers to autonomous AI systems capable of making independent decisions and taking actions based on learned experiences. Unlike traditional reactive AI, these systems continuously adapt to achieve specific goals with minimal human intervention.
How Agentic AI Is Different #
- Autonomous Operation: Functions with minimal human input
- Goal-Oriented: Learns and adapts to optimize outcomes
- Data-Driven: Uses training data and continuous feedback loops
- Advanced Technologies: Integrates machine learning, natural language processing, and predictive analytics
Why It Matters for the Insurance Industry #
Agentic AI is already enhancing key areas of insurance, including:
1. Claims Processing
- Automated claims assessment and fraud detection
- Pattern recognition to flag suspicious activity
2. Underwriting
- Advanced risk assessment using diverse data sources
- Real-time pricing adjustments based on live market conditions
3. Customer Service
- AI-driven chatbots providing 24/7 support
- Personalized product recommendations tailored to customer needs
4. Risk Management
- Predictive analytics for proactive risk identification
- Behavioral monitoring (e.g., telematics in auto insurance)
5. Regulatory Compliance
- Automated reporting for compliance efficiency
- AI-driven risk assessments to meet evolving regulations
Stay Ahead with AI Insights #
As AI continues to evolve, its impact on insurance will only grow. Explore more of Keith Raymond’s expert analysis on AI, automation, and other critical insurance trends.
Listen to Keith's episode, Life insurance is flooded with data: Celent’s Keith Raymond knows how to leverage it" on the Life Accelerated podcast here.
Keith’s Biography #
Keith is a Principal Analyst in Celent's North American insurance practice. He has extensive industry experience and is a seasoned expert in AI/generative AI, process automation, business transformation, and back-office systems & operations for property/casualty and life/health/annuities. His previous roles include Vice President of Research and Consulting at Novarica, Practice Partner – Digital Success at MVP Advisory, CIO & COO of Futurity First Insurance Group; AVP of Distribution Systems and Field Technology for Mass Mutual; CIO of Trumbull Services, Head Principal Consultant for Life and Annuities in North America at HCL Technologies; and CIO of FPI, a software development and service company.
Keith's research is focused on process automation across the insurance value chain and on generative AI's impact on insurance. He has assisted a number of insurance organizations with strategic technology roadmap development, go-to-market strategy, core platform replacement selection and IT and operational due diligence on acquisition opportunities. Keith has authored, blogged, participated in webinars and podcasts and has been interviewed for industry editorials covering a number of insurance industry topics with focus on artificial intelligence, innovation, process automation and digital transformation. Keith speaks frequently at all the major insurance industry technology conferences including Insurtech Connect, Insurtech Insights and Insurance Innovators along with numerous regional events such as Insurtech Hartford and annual user conferences. Keith also facilitates a Gen AI Bootcamp for North American insurers and Celent's annual Gen AI Symposium.
Keith can be reached directly at kraymond@celent.com
