Agentic AI and Retrieval-Augmented Models in Straight-Through Underwriting
On the map: Retrieval-augmented generation → Legal and financial RAG
also in 1 more
Abstract (arXiv)
Artificial intelligence (AI) is beginning to reshape actuarial practice, particularly in domains that require reasoning over unstructured documents, heterogeneous data sources, and regulated decision workflows. Actuaries now face a design space that ranges from traditional rule-based automation to large language models (LLMs), retrieval-augmented generation (RAG), and multi-agent ``agentic'' systems that plan, retrieve, call tools, and reflect. This paper examines how these emerging architectures can support actuarial priorities such as transparency, auditability, and human-in-the-loop governance, with a focus on straight-through decision processes. To make these ideas concrete, we develop and analyze an agentic AI framework for straight-through underwriting of small commercial Business Owner Policies (BOPs). We construct a synthetic but realistic experimental environment and compare three underwriting pipelines: (i) a single-LLM baseline, (ii) a naive RAG system, and (iii) a multi-agent ``Agentic RAG'' pipeline that combines targeted retrieval, third-party data checks, and explicit multi-step rule evaluation. The agentic system performs best overall, with the largest gains in multi-step and missing-information scenarios, where structured retrieval and reflection help the model avoid unsupported straight-through decisions.
Key facts. No citing papers in the map yet (data through 14 Oct 2026). Placed in Legal and financial RAG, one of 15 directions in Retrieval-augmented generation. Builds on 11 of its 36 references that are in the map. First posted on arXiv 8 Jul 2026.
Builds on
11 of 36 references.
References · 11
- 2017Attention Is All You Needcited by 60,361
- 2020Retrieval-Augmented Generation for Knowledge-Intensive NLP Taskscited by 9,297
- 2023Generative Agents: Interactive Simulacra of Human Behaviorcited by 3,568
- 2023Self-Refine: Iterative Refinement with Self-Feedbackcited by 3,442
- 2023AutoGen: Enabling Next-Gen LLM Applications via Multi-Agent Conversationcited by 1,988
- 2023Self-RAG: Learning to Retrieve, Generate, and Critique through Self-Reflectioncited by 1,839
- 2023AgentBench: Evaluating LLMs as Agentscited by 1,267
- 2022Atlas: Few-shot Learning with Retrieval Augmented Language Modelscited by 952
- 2024A Comprehensive Survey of Retrieval-Augmented Generation (RAG): Evolution, Current Landscape and Future Directionscited by 70
- 2025Agentic AI and Multiagentic: Are We Reinventing the Wheel?cited by 5
- 2025Advanced Applications of Generative AI in Actuarial Science: Case Studies Beyond ChatGPTcited by 3
Built on by
Not cited yet.
Similar, not cited
Close in wording, no citation either way
- 2026Agentic AI, Retrieval-Augmented Generation, and the Institutional Turn: Legal Architectures and Financial Governance in the Age of Distributional AGI
- 2025Enhancing Financial RAG with Agentic AI and Multi-HyDE: A Novel Approach to Knowledge Retrieval and Hallucination Reduction
- 2026Benchmarking Agents in Insurance Underwriting Environments
- 2025Agentic AI for Financial Crime Compliance
- 2026Artificial Intelligence in Ship Finance: Applications, Opportunities, and a Case Study in AI-Augmented Loan Origination
- 2026FORCE-Bench: A Benchmark, Dataset, and Evaluation Harness for Agentic AI in Enterprise Finance
- 2025Agentic AI Systems Applied to tasks in Financial Services: Modeling and model risk management crews
- 2026A Human-Centric Evaluation of a Retrieval-Augmented Generation System for Explaining Quebec Insurance Contracts