The LIMRA and Life Happens 13^th annual Insurance Barometer study tracks life insurance industry perceptions, attitudes, and behaviors in American consumers. This session provides the first look at the 2023 results, focusing on consumer behaviors and attitudes. It also explores trends and insights of an expanded number of demographic segments. The goal of this session is to help your company develop relevant communications, improve target marketing, and aid in decisions surrounding product and distribution development. Finally, it reviews how Life Happens uses this information to build consumer awareness programs and online tools.

RILAs have gained significant market share in recent years as more carriers are developing new products. Now that legislation has been pushed forward to make it easier for insurance carriers to enter the RILA market, what is it going to take to capture market share in this competitive space in the future? Join this session to learn about what product designs could lead to the continued growth in this popular segment of the annuity market.

Join this session to learn about technology trends that are affecting the future of business in the life and annuity marketplace, engage in a multi-faceted, in-depth look at underwriting technology trends, and explore the impact employees, distribution, and consumers will have on the future of the life insurance and annuity businesses.

This session will discuss the current state of consumer protection related topics for life and annuity providers, including the standard of care applicable to sales transactions, the future of privacy regulation, and the use of genetic testing.

What are agents looking for when working with a BGA or IMO? M&A activity is disrupting the independent distribution channel. What are the short-term benefits of the consolidation and long-term vision? Life insurance is still the central focus for these agents, but they are also offering annuities, health, and wealth management. What does the future look like? In this session, we will share the latest LIMRA research from an agent, carrier, and BGA/IMO viewpoint.

Managed money has been a long-term trend in wealth management, but could wrapping brokerage assets with a guaranteed lifetime income be the next big thing? In this session, we will look at the basics of CDA products, as well as what the insurance company and broker/dealer must implement operationally to take advantage of this growth opportunity.

The panel will give an overview the current state of underwriting and discuss where this is heading. The current hot topic in underwriting is automated and accelerated underwriting; what is driving this, risks and how consumers and other stakeholders will be impacted.

In today's hot job market, it’s harder than ever to attract the best talent. Expectations have changed. How you recruit and retain talent must change, too. That means breaking old rules and rethinking everything from job ads to onboarding. In this high-impact session, LIMRA’s head of research will share the latest on how candidates view the industry, how to get their attention, and how to get them excited to work with you.

Join us for a fireside chat with Utah Insurance Commissioner Jonathan Pike and Brighthouse Financial’s President & CEO Eric Steigerwalt to discuss a broad range of issues impacting the insurance industry. Hear their leadership insights on the most pressing topics of the day.

After years of dealing with very low interest rates, carriers now find themselves in an environment of rising interest rates, inflation, and a potential recession. In this session, we will explore the impact to in-force blocks of business and new product designs We will also identify the risks and opportunities that carriers face in this environment.

Given the strategic importance of customer experience, insurance carriers are re-thinking their approaches to meeting customers’ needs. In this session, a panel of industry experts will share overviews of their companies’ approaches to evolving the customer’s experience and provide actionable insights.

In the next decade, half of the producer population will retire. With uneven pass rates and a shrinking middle class, it is imperative that the industry foster an environment that encourages entering this profession. In this session, a panel, including producers experienced in serving diverse communities, will discuss removing barriers to producer licensing, recruiting and retaining diverse talent, supporting efforts to reach the uninsured and underinsured, and closing the coverage gap.

Join us for a robust discussion about wellness benefits in life insurance. How have they evolved? Do they provide an adequate return on investment? The session will also explore the outlook for wellness benefits and their impact on the life industry.

This session will cover the regulatory, technical, and ethical concerns that shape uses of AI in insurance applications. We will delve into both technical tests that can be integrated into AI development and governance practices that can be employed throughout the AI development lifecycle to meet regulatory requirements and consumer concerns. We will present a four-stage approach to bias measurement and mitigation to address data and models as sources of unwanted bias.

The ways in which consumers access information, shop, and buy life insurance is continuously evolving. In this session, we will explore the customers’ journey through the purchase of life insurance. We will discuss key findings through each stage of the process and learn more about the factors that impact their decisions as they recognize the need, shop for, and ultimately purchase life insurance. Attend this session to develop a greater understanding of how to keep consumers in the funnel and engaged throughout their journeys.

Experts are divided on whether a 4% withdrawal rate is still relevant in current and future retirement income planning. Is 5% a better guideline or would a 3% withdrawal be a safer bet? How are current interest rates and inflation impacting financial planning decisions? In this session we will explore decumulation strategies and withdrawal rates and the role of annuities and other alternative product solutions in a higher interest rate environment.

This session will focus on the latest developments in the life insurance product arena. All major product types will be covered, including term life, indexed, variable, and fixed universal life, whole life, and survivorship products. Economic, market, and technological trends in each of these product types will be discussed.

This session will provide an overview of the current challenges that insurers are facing as a result of increasing federal and state cybersecurity regulations. How do we comply with regulations while maintaining a balance between the industry’s designation as “national critical infrastructure” and the state-based insurance regulatory system? We’ll discuss how we can work together as an industry to ensure cybersecurity for our industry and the nation.

This session will discuss modern approaches for successful legacy transformations that reduce cost, accelerate business benefit, and improve the case for conversion.

The individual annuity market had a record year in 2022. This session will discuss the key drivers of growth in 2022 and LIMRA’s expectations for the future of the individual annuity market to provide a starting point to plan and optimize business strategies for the future. Additional insights will explore annuity contract features, including rider trends, indices, and CDSC options.

The pandemic revolutionized the way the world does business. While some things have stayed the same, most have advanced digitally. What are the biggest e-commerce pain points in the life insurance industry? Are e-commerce issues state or federal? Join this session to discuss the work we need to do to modernize e-commerce in the life insurance industry to best serve our customers.

In an encouraging development, the historic stance on investors being cautious with alternative investments has shifted in recent years. From an insurance standpoint, we believe there are four main types of investments that should be classified as “alternatives.” They are real assets, private credit, private equity, and hedge funds. When taking these into consideration, it is important for insurers to determine the optimal sizing of an alternatives allocation. Join this session to learn more about what to expect in mainstream insurance portfolio construction in the years ahead.

With the significant impact of digital transformation on the industry, the evolution of customer expectations, and the need for innovation in reinsurance products and services, as well as the importance of sustainability and ESG considerations, the impact of the regulatory landscape changes and its impact on the industry including IFRS17 and LDTI, how would reinsurers change their strategies to adapt to the evolving market to keep its growth and underwriting profitability?

Attendees will gain insights into the emerging risks facing the industry and learn about strategies for preparing and mitigating these risks. The session will also explore the role of technology in streamlining reinsurance operations, as well as the future of risk assessment and modelling. The use of data analytics and artificial intelligence in reinsurance decision-making and the importance of industry collaboration to drive innovation and change will also be highlighted.

Join us for this interactive session as we explore how the pros innovate in the actuarial field. We will be leveraging findings from recent Society of Actuaries research and discussing ways that our industry can continue to evolve new solutions and best practices. Based on interviews and focus groups with experienced innovative actuaries, we will provide an outline of the innovative process that these actuaries follow and share their advice to both organizations and aspiring innovative actuaries.

Long-term care (LTC) coverage continues to be in demand, and the options for providing coverage continue to evolve. At this session, we will discuss designs in the current market, high-level market trends, regulatory happenings, and opportunities for innovation in combining LTC coverage with life insurance and annuities.

Insurance carriers have seen an increase in annuity sales with RIAs, but there is more room for growth. In this session, we will discuss distribution models, the role of wholesaling, and how outsourced insurance desks are being utilized, as well as the firms that are offering fee-based annuities, product types, and optimal design.

Join this session to learn about the impact of COVID-19 on future mortality, featuring both general and life-insured population trends. The discussion also includes insights on mortality post-pandemic and individual life mortality analyses. Results will be pulled from several studies conducted jointly by LIMRA, the Reinsurance Group of America (RGA), the Society of Actuaries (SOA), and TAI: the Individual Life Cause of Death Report, the U.S. Individual Life COVID-19 Mortality Experience Study, and the U.S. Individual Life COVID-19 Reported Claims Analysis.

Multi-cancer early detection (MCED) tests have the potential to extend the lifetimes of many life insurance policyholders by diagnosing cancer in earlier stages when medical interventions can make a difference. This session will explore from a clinical perspective what these tests are, can do, and may hold for the future. We will then discuss how life insurers can analyze the financial impact of early detection programs to guide implementation and the management of in-force blocks.

The insurance and technology ecosystem has matured over the past decade. Carriers, technology providers, and InsurTechs have established a broader, richer, and collaborative ecosystem. As the InsurTech industry further matures in its “teenage” years, what opportunities does the next decade present to us as an industry? What transformational technologies could this ecosystem be capitalizing on? The pandemic having served as a further catalyst to ongoing rapid digitization, where should our focus collectively be in the “Roaring Digital Twenties?” Join us as our panel of industry experts predicts what the next decade in InsurTech might look like, and how this next decade could revolutionize the value we provide to millions of American families.

Have you wondered just how much adversity you or your team can handle? As a young girl, Chaunte’ Lowe had a dream of becoming an Olympian. After years of hard work and determination, her dream finally came true, but she was met with challenge after challenge in her quest for a medal. In 2019, Chaunte’ received the devastating diagnosis of triple-negative breast cancer — which is among the most aggressive forms. She decided to bring awareness to the importance of early detection and empower others by training for the 2020 Tokyo Olympic Games — while undergoing treatment. In her powerful and inspirational story of determination, perseverance, and strength, Chaunte’ openly shares the valuable lessons she learned as she beat impossible odds.

Professionalism is a key component of who we are and how we serve the insurance industry. This session will help actuaries keeping up with this promise to act professionally and ethically through a review the current ASOPs and through work with real life ethical issues where the audience will vote and discuss the appropriate course of action.

Leveraging the research papers Emerging Technologies and Their Impact on Actuarial Science and Top Actuarial Technologies, the presenters of this session will highlight current and emerging actuarial technology trends, discuss how these trends will impact the day-to-day work of life and annuity actuaries, and explain what actuaries can do to adapt.

How do younger generations, such as Millennials and Generation Z, understand, investigate, and purchase private insurance … of all types? This session will present findings from a recent Society of Actuaries study on how younger generations think about risk in general — how likely they are to engage in various risky behaviors or to believe a variety of insurable risks will impact them, and how their behaviors and beliefs are related to their ownership of the products that can mitigate those risks. What are the implications of this research for life insurers?

Traditional variable annuity sales have been on the decline over the last decade. For the first time since the early 1990s, traditional variable annuity sales did not lead in annuity sales by product type last year. The session will explore this segment of the market and how GLWB riders play into the future. It will also include a discussion of what factors need to occur to see VA sales return.

Effective on January 1, 2023, both IFRS 17 and LDTI confront insurers with myriad accounting changes to how revenues, losses, and profits are realized. Both IFRS 17 and LDTI aim to provide a highly transparent view of the value of an insurer and the comparability of market players. This session will provide an overview of the potential impact of new accounting standards to product development, such as reevaluation of risks, remeasurement of profit performance, and changes in hedging strategies that impact pricing.

Moderated by:

The life insurance product line not only survived, but thrived, during the COVID-19 pandemic. The industry pivoted quickly to continue doing business in a remote environment. With the death toll rising early in the pandemic, consumers saw the value in life insurance and were more likely to purchase coverage. Yet today there are still over 100 million Americans who need, or need more, life insurance. How do we reach people who need life insurance without a pandemic putting mortality front and center?

Hear what senior executives think about the future of life insurance:

• What are the key opportunities and how will we capitalize on them?
• What are the key challenges for the product line and how will we overcome them?
• What keeps these executives up at night?
• On the flip side, what excites them most about the future?

Moderated by:

The annuity product line saw historic growth last year — rising interest rates and volatile equity markets in 2022 have created an environment where fixed-rate deferred products are seeing record sales. What does the future look like for annuity product design if interest rates stay at current levels, which product lines are looking to expand, and are there new product designs? We will explore the future of the annuity industry with a panel of senior executives.