Videos
New York Life Perspective: Monika Pandey on AI’s Role in Underwriting & CX
Insights
- Automating underwriting and pricing with agentic AI improves accuracy, consistency, and speed.
- AI-powered personalization transforms customer interactions, boosting satisfaction and loyalty.
- Automated claims processing reduces manual labor, accelerates resolution, and drives efficiency.
How will agentic AI reshape the future of insurance?
Recorded at the Infosys Topaz Columbia University Enterprise AI Center, this interview features Monika Pandey, AI Delivery Lead at New York Life. She explores how agentic AI is set to transform the insurance industry, emphasizing three critical use cases:
- Why automating underwriting and pricing improves accuracy, consistency, and speed
- How AI-powered personalization enhances customer experience and loyalty
- Where automated claims processing reduces manual effort and accelerates resolution
Drawing on her experience in deploying AI for revenue management and underwriting, Monika highlights how agentic AI can drive measurable efficiency while freeing human talent for higher-value work. This interview offers insurance and technology leaders a clear view of how agentic AI is reshaping core business functions and unlocking new competitive advantages.
What do you think will be the top three use cases for agentic AI in your industry?
Monika Pandey:
We've been leveraging AI for targeted solutions for our revenue management and underwriting departments. And I think from agentic AI perspective, I can think of three different use cases. Number one would be automation of underwriting and pricing. That AI can go through large data sets and it can bring in consistency, it can reduce manual errors. So that will be a great use case. The second use case that I can think of is enhanced customer experience and personalization. We can use AI-powered chatbot to improve response time for our customers and bring in immense satisfaction. And then the third use case that I can think of is automated claims processing. That's something that involves significant human intervention, a lot of labor, AI can be leveraged to assess claims and issue pricing, all under obviously with good amount of measures and I think that will be a great win for group insurance.
