July 13, 2022 –The highly concentrated annuities market is contending with significant changes. Regulators are asserting best interest requirements, nontraditional investors have entered the space, and cybersecurity management is more important than ever. At the same time, technology transformations and transitions to the cloud are in full swing.

This report provides an overview of annuity carrier business and technology issues, marketplace data, and more than 10 examples of recent technology investments by annuity carriers. It is part of a series on key business and technology trends in specific line-of-business segments in the U.S. insurance industry. These reports draw from the expertise of Aite-Novarica Group’s staff, conversations with members of the Aite-Novarica Group Insurance Technology Research Council, and a review of secondary published sources.

This 40-page Impact Report contains one figure and two tables. Clients of Aite-Novarica Group’s Life, Annuities, & Benefits service can download this report and the corresponding charts.

This report mentions AIG Life & Retirement, The Allstate Corporation, Allstate Life Insurance Company, American Equity, American Life & Security Corp., Americo, Annexus, Assurant, Athene, BlackRock, Blackstone, Brighthouse Financial, Brookfield Real Estate, Canvas, CUNA Mutual, DPL Financial Partners, Ebix, Equitable, Everlake Life Insurance, FAST Technology, F&G, Federal Life, Fidelity Investments, FINEOS, Fortitude Re, The Hartford, Horace Mann, iCover, John Hancock, KSKJ Life, Legal & General, Liberty Mutual, Life.io, LIMRA, Lincoln Financial, The Lincoln National Life Insurance Company, Majesco, Manulife, MetLife, Nationwide, New York Life, NTT DATA, Pacific Life, Penn Mutual, PlanGap, Prosperity Life, Prudential Annuities Life Assurance Corporation, Prudential Financial, Puritan Life, Resolution Life, Salesforce, SE2, SIMON Annuities and Insurance Services LLC, Sixth Street, Talcott Resolution Life Insurance Company, Venerable Holdings, Voya, and Woodmen of the World.