Navigating transformation in the dynamic landscape of life and annuity insurance

The life and annuity insurance market is in flux as customer demands evolve, digital technology advances, regulatory directions remain unsettled, and insurtech innovation gains momentum. Regulatory pressures on consumer protection for financial planning and advice continue to weigh heavily on the market. Potential changes in traditional agent sales and distribution methods may open new business models. As profitability is challenged, insurance companies look to invest in cost reduction initiatives over core system modernization initiatives and investments in digital, analytics, cloud migration, and cybersecurity.