Our team recently attended the LIMRA Annual Conference in Kissimmee, FL, where industry leaders gathered to discuss the opportunities and challenges shaping the future of insurance, retirement, and benefits. The sessions and conversations were wide-ranging, but several themes stood out that underscore the industry’s need for practical, transformative technology.
Modernization: Unflashy but Essential
While artificial intelligence often dominates headlines, many carriers continue to struggle with fundamental issues such as billing accuracy, policy administration, and customer service. Modernizing core administration systems may not generate flashy press releases, but it is foundational to delivering accuracy, efficiency, and trust. These “behind-the-scenes” improvements enable the reliable experiences that customers value most. At Vitech, we see this every day: modernization work might not make headlines, but it drives measurable improvements in service quality and customer satisfaction.
Putting Business Users at the Center
Another important takeaway from the conference was the need for technology solutions to start with the business user. Too often, employees are bogged down by repetitive manual tasks that add little value. By engaging closely with business end users, technology teams can identify pain points and design solutions that free employees to focus on higher-value activities, whether providing better customer service or developing innovative products. Artificial intelligence has a role to play, but only when it is applied to real-world challenges in ways that make work more meaningful and productive.
Privacy and Security in a Data-Rich Environment
The flow of personal information in insurance has shifted dramatically. Engagement once began at the time of claim, when little personal data was stored. Now, with supplemental benefits, EDI, and API connectivity, carriers collect far more information upfront at enrollment. This change creates significant responsibility to safeguard data and comply with evolving privacy and security requirements. Modern systems designed with today’s regulatory environment in mind are no longer optional. They are essential to maintaining trust and compliance.
Market Dynamics: PRT, Annuities, and Beyond
Industry leaders also discussed key market dynamics that will continue shaping the landscape:
- Pension Risk Transfer (PRT): Growth remains strong, with more buy-ins alongside traditional buy-outs, particularly in small and mid-sized transactions.
- Annuity Sales: A bright spot offering stability in a volatile environment.
- Industry Headwinds: Ongoing challenges include interest rate fluctuations, economic uncertainty, and compliance pressures.
- AI Opportunities: Agentic AI shows promise for efficiency and productivity, but adoption will require a balanced approach with human oversight.
- Closing the Coverage Gap: Carriers are exploring new strategies to reach younger customers and address the needs of the underinsured population.
Looking Ahead
The LIMRA Annual Conference reaffirmed what we see across our client base: the future of insurance and retirement depends on more than just emerging technologies like AI. True transformation begins with modernizing the core systems that support accurate, secure, and efficient operations. These “unflashy” investments in technology form the foundation upon which innovation can thrive.
At Vitech, we are proud to help carriers take on these challenges head-on, modernizing critical systems, enabling trusted customer experiences, and building the infrastructure for future growth. Beyond the sessions, it was wonderful to reconnect with colleagues and friends from across the industry. Hearing from keynote speakers like Hoda Kotb, Coach Nick Saban, and Secretary Gina Raimondo was also a memorable highlight of the conference.
Connect with our team to learn more.
