Manulife expects artificial intelligence initiatives to generate more than $1 billion in value by 2027 as it moves AI agents into internal financial workflows. The shift signals how large financial institutions are pushing beyond experimental AI pilots toward operational automation.
The Canadian insurer Manulife is developing an internal runtime platform designed to support agentic AI systems that can complete tasks across multiple datasets and software tools. According to company disclosures, about 75% of its global workforce already uses generative AI tools, and the firm currently operates more than 35 production use cases with plans to expand that number to roughly 70.
Can AI Agents Transform Financial Operations?
Unlike standard generative AI tools that respond to prompts, agent-based systems are designed to complete sequences of tasks across internal systems. A single agent could gather policy data, analyze claims records, and prepare summaries for employees handling underwriting decisions or regulatory reporting.
Insurance companies manage large volumes of structured information, including policy documents, claims files, and financial statements. That environment creates opportunities for automation that can reduce time spent gathering data before making decisions. Could AI agents meaningfully reduce administrative workload in financial institutions where routine processes still rely on manual coordination?
Industry data suggests adoption is accelerating. A 2024 global survey from McKinsey & Company found that about 65% of organizations now use generative AI in at least one business function, roughly double the share reported the previous year. Yet most deployments remain limited to narrow projects rather than full operational systems.
Financial firms face additional hurdles when deploying automation tools. Systems involved in underwriting, risk analysis, or financial reporting must remain transparent and auditable under regulatory oversight. Research from Deloitte notes that banks and insurers are increasing investment in governance frameworks and monitoring tools to manage AI-driven decision systems.
Manulife said its new platform includes controls that track how AI agents interact with internal data and document how automated decisions are produced. The next phase will test whether these systems can deliver measurable productivity gains while meeting regulatory expectations for accountability and oversight.
