Automation and workflow technologies have long enhanced actuarial processes, delivering measurable benefits. Yet often they require significant time and investment to implement, limiting widespread adoption. Today, AI represents a transformative accelerator: Modern applications can be deployed rapidly, at lower marginal cost, and with markedly greater analytical precision. Early adopters are already reporting substantial efficiency gains and deeper insights, underscoring the urgency for organisations to embrace these advances or risk falling behind. The adoption of AI in the actuarial field is expanding rapidly, and there are many potential use cases for automation and workflow management.

This paper uses three case studies to show applications of AI in the pricing process for bulk purchase annuities (BPA), leading to improved efficiency and outcomes. Speed and accuracy are particularly important in a competitive market such as the UK BPA market, where insurers are competing to promptly offer their best price whilst also needing to ensure their pricing is accurate to reflect the true risk and cost of the scheme. The concepts and tools we highlight are very much applicable to a wide range of actuarial processes and product applications.

Key discussion points:

• The BPA pricing process: Automating premium generation and use of AI
• Types of AI: Narrow, general, and superintelligence
• Case studies: Data checks, data extraction from pension scheme benefit specification, and data formatting