LLMs and Agentic AI in Insurance Decision-Making: Opportunities and Challenges For Africa

Graham Hill, Jing‑Yuan Gong, Moseli Mots'oehli, James Gachomo Wanjiku, Thulani Babeli

Keywords: African AI + Insurance + Large Language Models + Agentic AI + Policy Making

TL;DR: Examines global and African insurance uses of LLMs/agentic AI, highlights market and regulatory gaps, and urges African‑led, inclusive AI solutions

Abstract: In this work, we highlight the transformative potential of Artificial Intelligence (AI), particularly Large Language Models (LLMs) and agentic AI, in the insurance sector. We consider and emphasize the unique opportunities, challenges, and potential pathways in insurance amid rapid performance improvements, increased open-source access, decreasing deployment costs, and the complexity of LLM or agentic AI frameworks. To bring it closer to home, we identify critical gaps in the African insurance market and highlight key local efforts, players, and partnership opportunities. Finally, we call upon actuaries, insurers, regulators, and tech leaders to a collaborative effort aimed at creating inclusive, sustainable, and equitable AI strategies and solutions: by and for Africans.

Submission Number: 4