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The legacy technology systems that many insurers rely on are holding them back. Still, it’s unsustainable for insurers to keep kicking the can down the road long-term, according to a new study published by Baringa.

“There’s a massive constraint in terms of their ability to get their current legacy environment to respond in terms of pace, in terms of value for money, but also in terms of how they think about being able to capitalize on a more modern architecture stack and what does that look like,” Roy Jubraj, partner of financial services, Baringa said.

Outdated legacy tech is one of the main barriers preventing insurers from capitalizing on AI and other technology advancements and from being able to deliver the level of service customers increasingly demand.

But Jubraj, one of the study’s authors, said it is not all “doom and gloom” for insurers, as there are many options for them to transition to more modern frameworks. The main point he emphasized was that insurers can’t afford to hold onto legacy tech “too long.”

“With the progression of technology and, importantly, the progression of data, I think insurers and organizations across the globe need to take the leap of faith and start thinking about how they update their capabilities and legacy environments in a way that is a lot more progressive,” Jubraj said.

“It can become very, very constraining in terms of those legacy environments not necessarily supporting the business and the business ambition in today’s environment. So, I don’t think you can hold on for too long.”

Insurance execs realize the problem

According to Baringa’s study, insurance executives recognize that keeping legacy tech is a problem, yet they know they are heavily dependent on it.

Just under 50% of the execs surveyed said they see existing IT as a barrier to supporting customer needs. Yet an equal percentage also said they believe legacy system failure would be fatal to their operations.

“We’ve got lots of insurers in the survey that are likely sitting on a core insurance platform capability that’s 20, 30 years old. So, your ability to then change and be able to do change, either from a customer proposition perspective or digital channels or being able to test and learn and be able to tweak the propositions in a very flexible and sort of fast-paced environment, becomes very limiting,” Jubraj said.

However, 39% of insurance leaders surveyed said legacy systems and the ability to capitalize on new technology are their company’s biggest strategic challenge.

“There’s not only a missed opportunity as it relates to the agility and speed that you need to service the customer’s needs in the here and the now, there’s a missed opportunity in terms of how organizations want to innovate, in terms of how they get value out of the new practices and methods and tools that are in the marketplace,” Jubraj said.

Baringa’s report homed in on how legacy tech is driving a wedge between client expectations and the digital services offered by their providers. It found that while 76% of customers today want to have an entirely digital interaction with their insurers, less than 40% said they are actually satisfied with the digital experiences offered by their provider.

“There’s a clear gap between customers’ expectations, from a digital perspective, and what we believe insurers can do to meet them,” Jubraj added.

Fixing the foundation

Jubraj acknowledged that modernizing core ecosystems is easier said than done for many insurers, who would have to invest considerable time, expertise and funds to make it happen. As such, he said there is a marked “hesitancy of organizations to be able to make that leap of faith in terms of how they embark on that modernization program and what does that look like.”

He nonetheless remained optimistic that there are feasible options for insurers to consider, such as those put forth in the Baringa report.

“One of the fears that insurers have is those investments don’t necessarily yield business value quickly enough. So, the approach that we’ve laid out in the report is that there is an iterative process that you can engage in, where you fix the foundations and the core, and then you build an operating model alongside fixing the foundations. You can then start to iteratively evolve and use the technology to deliver business value,” he explained.

The report also suggested legal reviews on how organizations may choose to approach their technology transformation agenda that could help address foundational capabilities and avoid “waiting for years and years to fix the problems that you have.”

“There are definitely solutions, there are definitely options. It’s not all doom and gloom, but insurers do need to take the conviction to actually go on this journey and address that and embark on those modernization programs,” Jubraj said.

Baringa is a global management and consulting firm founded in 200 and based out of the United Kingdom. Its insurance tech study, “Win loyalty, where others fail,” was based on the results of studies conducted in the United States and UK between March and April 2025. The study surveyed 4,000 customers and 4,000 senior insurance executives.

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In 1967, while finishing his senior year at Ohio State University, Marv Feldman signed his first insurance contract with New York Life. At the time, he was just another face in an industry where 90% of new agents flame out within 12 months.

Feldman didn’t just beat those odds; he spent the next six decades redefining them.

The industry veteran, who began his career knocking on doors and cold-calling prospects for more than two years before entering New York Life’s management training program, eventually returned to personal production in 1974. At age 28, he became a partner at the Feldman Agency in East Liverpool and president of Fremar Financial Group.

As the son of the legendary Ben Feldman, often referred to as the best insurance agent ever, he walked in big shadows. But Marv Feldman carved out his own path defined by high-level leadership and advocacy.

Feldman served as a past president of the Million Dollar Round Table and was honored in 2011 with the the industry’s highest accolade, the John Newton Russell Memorial Award from the National Association of Insurance and Financial Advisors.

Feldman concluded his nearly 60-year career as the CEO of Life Happens, leaving behind a legacy of service that earned him widespread respect across the financial services landscape.

“He was a great leader, husband and father and will sorely be missed,” said John W. Wheeler, Jr., NAIFA president elect. “He had countless contributions to the industry with unquestionable dignity and wisdom.”

Feldman died Wednesday at age 80, surrounded by his family.

“I always said I wanted to be remembered first as a great husband and father… and oh, by the way, a guy who happened to be successful in the insurance industry,” Feldman said in a final message shared by his family on social media.

Generous with his time

In an industry that can all too often seem transactional, Feldman was known for giving his time. When NAIFA Los Angeles worked through then-Mayor Eric Garcetti’s office to establish Life Insurance Awareness Month, Gilbert Z. Mares, NAIFA LA president at the time, recalls Feldman flying 3,000 miles to show in-person support.

Not just the initial year [2014] either, said Mares, head of Gilbert Z. Mares & Associates Insurance agency in San Marino, Calif., but for several years afterward.

“He loved attending,” Mares said.

By then, Feldman’s passion was Life Happens, an industry-supported marketing group based in Washington, D.C. He worked with a small staff to educate consumers on the importance of life insurance in protecting families’ financial futures.

Richard M. Weber remembers working with Feldman when Weber served on the executive committee of the Society of Financial Service Professionals about 15 years ago. FSP, which merged into NAIFA in 2024, was one of several trade groups that would meet once a year to “find common ground and collaborate,” Weber explained.

“I especially remember his mediation skills at ‘herding cats,’” Weber recalled. “Taking leadership in getting all these organizations to work together.”

In 2016, Feldman published his memoir titled Man On A Mission: How to Succeed, Serve, and Make a Difference in Your Financial Services Career. The book sports 4.8 stars (out of 5) on 80 Amazon reviews.

“Marvin Feldman is one of the professionals that I dare you to ignore at the cost of your long-term career development,” wrote David H. Kinder, longtime agent and financial consultant. “For the new agent, I believe it’s a wonderful primer to this career.”

Dedication is ‘beyond reproach’

Marv Feldman’s career accomplishments are almost too numerous to mention.

He was the 2002 president of the Million Dollar Round Table and a member of the elite Top of the Table for 41 years. He was honored as the Circle of Life recipient in 2004 by the Million Dollar Round Table Foundation in recognition of his community and industry leadership.

Feldman gave speeches in 40 countries. He served as the Secretary of New York Life’s Agent’s Advisory Council, and was named to Insurance Newscast’s list of the 100 most powerful people in the insurance industry in North America

The late Terry K. Headley, NAIFA’s 2011 president, had this to say about Feldman upon his selection for the John Newton Russell Award: “Marv’s dedication to the institution of life insurance and the industry is beyond reproach. I can’t think of a better ambassador for our business, our industry, and our profession. As a highly successful agent for many years, Marv clearly understands and appreciates the essential role of agents, who perform the vital job of protecting the financial security of American families.”

Later in life, he led Feldman Financial Group in Clearwater and Palm Harbor, Fla., building a practice “known for professionalism, mentorship, and service to clients,” NAIFA said.

Like many, Michael Weintraub, former principal and co-founder of Next Step Retirement & Insurance Services, will most remember Feldman never missing a chance to enjoy the simple joys of life and trying to make people laugh.

Many years ago, Mike and Paula Weintraub and Marv and Vicki Feldman went to see a Broadway musical in Toronto.

“During intermission, Marv looked at me and said something like, ‘Let’s go find some real food,’” Mike Weintraub recalled. “The two of us quietly slipped out of the theater and ran down the street to a food truck for hot dogs and those amazing Toronto french fries.”

The wives eventually tracked them down and the foursome hurried back to their seats just as the curtain was rising, he added, “both of us with mustard on our chins.”

Feldman “was respected and loved by so many of us,” Weintraub said. “I feel fortunate to have called him a friend for so many years.”

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With many Americans’ retirement savings falling far short of what they really need for long-term financial security, technology could be leveraged to help close the gap, said Bobby Powell, iPipeline vice president of distribution sales.

“When it comes to education, financial literacy and connecting people to solutions that will help them out, there’s absolutely a gap there today — getting people access to the right financial products and helping them understand what those products can do for them and if they can get to their desired outcome,” Powell told InsuranceNewsNet.

A 2026 study from the National Institute on Retirement Security found retirement preparedness of working-age Americans aged 21-64, is woefully lacking. The median amount saved for retirement is only $955, as many Americans have not even begun saving yet.

To put that number in perspective, experts generally recommend having six to 11 times one’s salary in retirement savings to live comfortably.

Powell said the retirement savings gap could be partly because many people don’t begin planning for retirement until later in life.

“Retirement is a very distant thing until it’s knocking on your door. Thinking about retirement is something that people probably don’t spend a lot of time on in their 20s, and then maybe start to think minimally of it in their 30s, and then as they get beyond that, they definitely start to think about it kind of more and more,” he said.

But he believes that equipping technology in a variety of ways can help more Americans begin to prepare earlier for better financial outcomes in retirement.

“I’ve been in wealthtech and insurtech for 24 years now, and I will say that technology is rarely a hindrance. So when we’re talking about how technology can bridge the gap, technology has been able to do this for quite some time — whether it is processing business faster or easier or solving problems,” he said.

Help navigating complexity

Powell pointed out that Americans have many complexities to think about when it comes to retirement planning. For example, they must weigh what age they want to retire, how much income they need to retire comfortably, what they expect their expenses to look like and how that differs from today, whether they will need Medicare, tax planning and a host of other considerations.

“There’s a whole lot of complexities, which I think really invites the need for a good financial advisor, a good financial planner, in the process,” he said.

However, there is an equally complex challenge in getting this information to Americans.

Not only are many young Americans not even beginning to think about retirement yet, but studies also indicate millennials and Generation Z prefer to go online for financial advice rather than engage with a professional consultant.

A possible solution is for advisors to leverage technology in tandem with their industry experience to reach more people.

“Technology can get the information out there faster; it can make the experience better. I think, generationally, technology will absolutely help folks or help make financial advice easier, help make the consumption of information much easier, much more available to the masses,” Powell said.

But tech can’t stand on its own

Although Powell believes technology can help fill a gap in retirement planning, he also emphasized that it cannot stand on its own.

“For the foreseeable future, you’ll need a human being in there as well to give you a lot of that guidance,” Powell said. “I think you’ll end up with a blend of both technology and people, but the technology absolutely helps get the information and the products to the consumers much faster.”

He said consumers can also leverage technology on their own to research retirement planning and gain a general understanding before they speak with a professional — and, in fact, many have begun doing just that.

“I think at least taking that approach first with financial advice is a really good thing because you are walking in as an educated consumer, and just being an educated consumer is a really important thing just in general,” Powell said.

However, he also said advisors can play a crucial role in helping clients cut through the overwhelming amount of information online while they’re making the transition from online research to real-life action.

“The challenge now is not so much the availability of information; it’s more like combing through all the information. It’s almost like information overload — I have all these choices in front of me all day long and they’re instantly available or near-instantly available now, so how do I make the right choice? That’s where your financial advisor comes into play,” Powell said.

He urged advisors to meet clients where they are when leveraging technology and using methods most comfortable to them.

“Anytime you are appealing to a specific group, you have to know your customer,” he said. “So, when I’m speaking to a baby boomer versus a Gen X or a millennial or Gen Y, et cetera, you have to understand how your own customer base consumes information and what’s most comfortable to them.”

iPipeline is a Pennsylvania-based global provider of digital solutions for the L&A industry, founded in 1995.

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Americans of all ages are hopeful about improving their financial situations this year. But the financial goals for each generation vary – from Generation Z’s savings push to baby boomers’ focus on debt reduction.

Those were among the findings of a survey conducted by The Harris Poll on behalf of the American Institute of CPAs.

“Our survey findings highlight just how differently each generation is experiencing today’s economy,” said Pamela Ladd, AICPA’s senior manager of personal financial planning. “While Gen Z’s goals for 2026 are focused on major life milestones like buying a car or home, millennials are striving for balance, and older generations are prioritizing retirement readiness and debt reduction. Despite these differences, nearly all Americans share one common thread – having financial goals for 2026.”

As the survey pointed out, despite having different levels of optimism, goal‑setting was nearly universal across generations. A whopping 92% of Americans said they have financial goals for 2026.

When asked if this year will be better financially for them than 2025 was, optimism was higher for Gen Z, millennials and Gen X than it was for baby boomers. For example:

• 50% of Gen Z believe that 2026 will be better financially for them than 2025.
• 52% of millennials believe that 2026 will be better financially for them than 2025.
• 42% of Gen X believe that 2026 will be better financially for them than 2025.
• 29% of baby boomers believe that 2026 will be better financially for them than 2025.

Top 2026 financial goals for each generation

The survey also shared the financial goals of each generation. For example:

—Gen Z is focused on major life milestones:

1. Saving for a car (41%)
2. Investing (39%)
3. Saving for a home (36%)

—Millennials are split between lifestyle and stability:

1. Saving for a vacation (36%)
2. Paying down debt (35%)
3. Investing (35%)
4. Saving for a car (33%)

—Gen X shows strong retirement and debt focus:

1. Saving for retirement (46%)
2. Paying down debt (37%)
3. Investing (31%)

—Baby boomers also aim for controlling debt and retirement savings, with a bit of fun:

1. Paying down debt (33%)
2. Investing (33%)
3. Saving for retirement (32%)
4. Saving for a vacation (27%)

When asked what may prevent those with financial goals for 2026 from reaching them, the top answer for each generation was the same – the rising cost of living (e.g., housing, groceries, utilities):

• 59% of baby boomers
• 53% of Gen X
• 44% of millennials
• 40% of Gen Z

Tips from CPAs

The survey also shared several tips that CPAs offered for each generation:

Gen Z: Build an emergency fund first (six to eight months of expenses), keep debt manageable and invest consistently, even in small amounts. Although this group is focused on big life milestones – buying a car, investing early and saving for a first home– it’s important to balance ambition with stability and long-term planning.

Millennials: Creating a plan for success can help millennials enjoy today without sacrificing long‑term progress. Automate savings, using budgeting tools and prioritize paying down high‑interest debt. Millennials show they are interested in saving for a vacation while also tackling debt and investing.

Gen X: Gen X is entering peak financial pressure years, and their financial goals reflect that. They may also fear that it’s too late to catch up on retirement – but it’s not. Maximize employer retirement contributions, pay down lingering debt and define what retirement will cost. Small adjustments, such as increasing 401(k) and Roth IRA contributions annually, can make a difference.

Baby boomers: Reducing financial obligations and reviewing investment risk levels can help ensure that savings last throughout retirement. Many boomers also want to enjoy life now – by doing things such as taking a vacation – but should do so by using a clear spending plan.

Helping different generations achieve their goals

How can financial professionals and wealth managers use the information from this survey to help different generations obtain their financial goals for 2026—and beyond? “Using real‑world data can enrich client conversations and reinforce the relevance of a personalized financial plan,” said Ladd. “Regular check‑ins help adjust strategies as clients face ongoing cost‑of‑living pressures.”

The survey was conducted online in the United States by The Harris Poll on behalf of AICPA from December 18-22, 2025, among 2,079 adults ages 18 and older.

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The world’s most critical energy artery has ground to a functional halt this week as the global maritime insurance market effectively severed ties with the Strait of Hormuz amid the Iran hostilities.

Following a series of retaliatory strikes between the U.S., Israel, and Iran, leading insurers have triggered emergency cancellation clauses, leaving hundreds of vessels stranded and global energy markets in a tailspin. Consumers are feeling the pain at the pump, where gas prices are up an average of 27 cents this week, AAA reported.

In the hopes of reversing that trend, President Donald Trump announced that the U.S. International Development Finance Corp. will begin offering “political risk insurance” at “reasonable prices” to commercial tankers.

In a research note released Thursday morning, Morningstar stated that the move is unlikely to lower gas prices in the short term.

“We believe that government-provided primary insurance may have limited success in clearing the current shipping backlog,” wrote Marcos Alvarez and Elisabeth Rudman, managing directors for Morningstar Global Financial Institution Ratings. “The principal constraint facing shipowners is not only insurance availability but also the heightened navigation risks in the region.”

As of Thursday, major maritime insurers — including Gard, Skuld, NorthStandard, the London P&I Club, and the American Club — have officially terminated war risk coverage for ships transiting the Gulf and Iranian waters.

Insurers cite an inability to calculate risk after the Iranian Revolutionary Guard Corps threatened to “set ablaze” any vessel attempting to pass. Approximately 150 to 200 vessels, including massive oil and liquified natural gas tankers, have dropped anchor outside the strait, unwilling to sail without the financial protection required by international law.

“Missile attacks, drone strikes and vessel damage have materially increased the probability of loss,” the Morningstar note reads. “Insurance alone does not materially reduce the operational risk faced by crews and vessels.”

Costly voyage

For the few operators still willing to navigate the 21-mile-wide chokepoint, the price of entry has become prohibitive. War risk premiums have jumped from roughly 0.2% of a ship’s value to over 1% in just 48 hours.

For a $100 million supertanker, the cost for a single week-long voyage has surged from $200,000 to $1 million. Shipping rates for crude oil to Asia hit an all-time high of over $423,000 per day on Monday, a nearly 94% increase from the previous week.

“War risk premiums can increase sharply during periods of conflict, which may discourage shipowners from transiting high-risk regions even when coverage remains available,” Alvarez said in a news release. “Targeted support mechanisms could help [in] maintaining shipping flows without displacing private insurers from the market.”

The “insurance-driven” blockade has already triggered a “force majeure” declaration from QatarEnergy, halting 20% of the world’s LNG supply. With 10% of the global container fleet also “caught up” in the closure, analysts are speculating on secondary inflation shocks as supply chains for electronics and drugs are disrupted.

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AI adoption is accelerating among independent insurance agencies.

According to the 2026 Big ‘I’ Agents Council for Technology Tech Trends Report, two-thirds of independent agencies plan to increase their AI usage in the next 12 months.

Current adoption levels, however, vary widely—33% are just experimenting, 22% are using AI in limited areas, 8% are embedding it in daily workflows, and 31% are not using it at all.

Agencies that are looking to ramp up their AI efforts are primarily motivated by operational efficiency and staff productivity. At the same time, data privacy, compliance risks, and inaccurate outputs remain leading concerns.

If you’re an agent considering AI—or looking to expand its role— educate yourself on how others are currently using this technology and how you can implement it in a responsible, strategic manner, the report recommends.

How AI is reshaping agency workflows

As of late, independent agents are moving from experimentation to targeted workflow use.

“Adoption is still uneven as we have a wide array of agency sizes, from both a staff and revenue perspective. Most independent agencies are still in the early to middle stages of their AI journey, and they’re starting where it makes the most operational sense,” said Kasey Connors, executive director of the Big “I” Agents Council for Technology (ACT).

AI is primarily being used to support high-volume, repeatable tasks like drafting client emails, summarizing calls, generating marketing content, and assisting with certain back-office review processes.

Some agencies are even using it to look up values of vehicles from an underwriting perspective. In most cases, they begin in lower-risk areas where time savings are immediate but human oversight is still essential.

“We’re also seeing growing interest in AI voice assistants, smarter policy review, and workflow automation embedded directly into core systems. Broadly speaking, agencies are taking a pragmatic approach: start small, learn fast, and expand where it drives real efficiency,” Connors explained.

What tools are being used?

Most agents are using a combination of general LLM tools, such as ChatGPT and Microsoft CoPilot, AI embedded in agency platforms, and emerging insurtech solutions.

“We’re seeing significant momentum from AI being embedded directly into agency management systems and core workflows. ACT is neutral to partners but has a broad partner ecosystem in this space, including platforms like Applied Systems, Vertafore, Zywave, Amplo, and HawkSoft that are increasingly incorporating AI into everyday agency operations,” Connors said.

Beyond core systems, agencies are turning to specialized solutions across the customer lifecycle — from data intake tools like Canopy Connect and service providers such as Patra, to digital distribution platforms like Bolt and emerging AI workflow players including CARA, Fulcrum, Gail, ReFocus AI and Xanatek’s Dyad.

On the marketing and customer engagement side, they’re leveraging platforms like Experience.com and Total Expert for smarter search, reputation, and lifecycle engagement, along with infrastructure players like AgentSync that help ensure cleaner, more reliable data flows, as well as Agency Revolution for marketing specifically.

The effects of AI usage

“When done well, the impact of AI is largely positive. It helps agencies become faster, more proactive, and more responsive,” Connors explained.

According to Connors, most independent agents are being very intentional about using AI to enhance—not replace—the trusted advisor relationship that defines their value.

As long as it’s implemented thoughtfully, this technology can remove friction behind the scenes, giving agents additional time to focus on advice, coverage guidance and relationship building.

From the client perspective, it offers personalized outreach and expanded availability through after-hours support, chat, or voice tools.

Tips for agents

If you want to use AI to support your clients, Connors recommends you think about workflow pains rather than the tools themselves.

“Look for tasks that are repetitive, manual and time-consuming. Email drafting, call summaries, marketing content and document review are often strong early wins. Pilot one use case, measure the impact and then expand thoughtfully,” Connors said.

It’s also critical to invest early in data quality, governance, and team training.

AI will only perform as well as the data behind it, and agencies that set clear usage guidelines and keep a human in the loop, especially for coverage decisions, are seeing the strongest results.

“Most importantly, treat this as an operational evolution, not just a technology experiment,” Connors added.

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A California investment advisor was convicted of defrauding three former NBA players out of more than $5 million, federal prosecutors said.

U.S. Attorney Jay Clayton said a jury found Darryl Cohen guilty following a five-week trial before U.S. District Judge Vernon S. Broderick.

Prosecutors said Cohen, 52, of Chatsworth, orchestrated a scheme between 2017 and 2020 to exploit his advisory relationships with former professional basketball players Chandler Parsons, Courtney Lee and Jrue Holiday.

“Cohen built trust with successful pro athletes — then betrayed it, stealing their money to fund personal luxuries, including a state-of-the-art gym in his own backyard,” Clayton said. “New Yorkers deserve honest financial advice — not advisors who scheme to steal clients’ funds, rather than protect their financial interests — and this office is committed to removing bad actors from our markets.”

The prosecution was part of a wide-ranging crackdown on fraud against professional athletes led by the Southern District of New York. A Georgia businessman was convicted in October 2024.

Resale profits up to 310%

According to evidence presented at trial, Cohen and accountant Brian Gilder steered the NBA athletes into purchasing viatical life insurance policies at steep markups without disclosing that a law firm controlled by Gilder had first acquired the policies and then resold them at markups ranging from 222% to 310%. The firm generated about $4.5 million in profits from the transactions, prosecutors said.

Authorities said Cohen used portions of the proceeds for personal expenses, including home renovations, pool work, credit card payments and transfers to a romantic partner.

In a separate scheme, Cohen directed $500,000 from the accounts of Parsons and Lee to what he described as charitable donations to a nonprofit called Beast Basketball. Prosecutors said the players did not authorize the transfers and that roughly $238,000 of the money was used to build a gym at Cohen’s home. When questioned, Cohen told one player the funds had helped “future prospects” and “underprivileged kids,” according to court evidence.

Prosecutors also said Cohen diverted $328,125 from Parsons’ account to repay a former client, ex–Major League Baseball player Nyjer Morgan, who had demanded repayment over prior investments and loans. Parsons did not authorize the payment, authorities said.

A jury convicted Cohen of one count of wire fraud, which carries a maximum sentence of 20 years in prison, and one count of investment adviser fraud, which carries a maximum sentence of five years. Sentencing is scheduled for a later date.

Clayton credited the FBI for its work on the case and thanked several U.S. attorneys’ offices and the U.S. Securities and Exchange Commission, which filed a parallel civil action, for their assistance.

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Market reports are synthesized snapshots of economic trends.

These documents usually include pricing pressures and geographic risk factors that turn complex data into practical guidance for retirement planning.

If you’re an advisor, market reports are invaluable and key to positioning yourself as a strategic professional, rather than a reactive one.

“Markets can be unpredictable, and news headlines often provoke an emotional response. We can use market reports for unemotional, evidence-based research to help support investment decisions and turn data into actionable ideas,” said Mark DiOrio, certified financial advisor and chief investment officer at Brookstone Capital Management.

The importance of market reports

Market reports are the basis for objective, data-driven, investment decision-making.

Economists and market strategists generate these reports to identify historically significant data points, including interest rate movements, unemployment trends, and inflation patterns—all of which directly impact investment portfolios and insurance product design.

For investment managers, portfolio managers, and related professionals, market reports clarify capital market expectations, identify emerging opportunities, and pinpoint potential risks before they materialize.

When rates rise or fall, MYGA yields and FIA caps often adjust quickly. Therefore, a clear read of the current environment can help determine whether to ladder now, allocate partially, or wait for the next carrier reset window.

Market reports also reveal pricing pressure. Product repricing or brief distribution pauses can signal broader shifts, allowing advisors to guide client expectations and reduce unwanted surprises if a favored product changes terms.

“Just as important, rule changes like updated RMD regulations affect withdrawal timing and beneficiary outcomes. Using reports to connect market context to tax and estate rules builds confidence in each step, “ said Jay Yu, estate planning lawyer, Yu and Yu Law.

Transforming market reports into reliable client strategy

Market reports can allow advisors to support their recommendations with facts.

“By utilizing market reports in conversations about retirement planning, you’re not just providing an opinion or sales pitch. You’re utilizing data to help clients make the most informed decisions,” said Yehuda Tropper, CEO at Beca Life Settlements.

Here are several strategies that can allow you to make the most out of these resources:

Focus on key market insights

Yu suggests honing in on three market insights: caps, participation rates, MYGA yields. From there, translate each insight into one clear client action.

“For example, you can say higher rates today justify laddering part of a MYGA now while we keep some cash flexible for future moves,” Yu said.

At the end of the day, you don’t want to overwhelm clients with data. The goal is to convert it into direction.

Use market signals to guide your timing

Market reports can also inform clients about when to take action and make certain product decisions.

You may say, “given the repricing chatter, let’s submit applications this week to lock current terms.”

With this approach, you can convey urgency as a strategy, rather than a reactive measure.

Address stability concerns head-on

When the environment is volatile, carrier strength becomes a real worry.

Through the use of market reports, you can separate life and annuity balance sheets from
property and casualty headlines, which might reflect completely different risk exposures.

Be sure to review carrier ratings, capital strength, and surplus levels. Don’t forget to diversify across carriers and product types, not just by geography. Doing so reduces risk and reassures the client.

Contextualize risks you identify

Tropper recommends using reports to reveal why certain pressures are important to clients.

“You can use a report to explain how geographic diversity in a carrier’s portfolio protects their long-term annuity payouts because they’re not overexposed to real estate industry risk in a single location,” Tropper explained.

Not only does this strategy lead to client confidence, it also strengthens your relationship with them.

Document everything

Most clients prefer to receive a written confirmation of all advisor recommendations. That’s why it’s a good idea to create a one-page note that cites the specific report, the decisions made, the rationale behind them, and the next review date.

“This helps clients see a clear, consistent process,” Yu explained.

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Artificial intelligence presents an opportunity to bridge a skills gap between older, more tenured insurance professionals and the younger counterparts the industry often struggles to recruit, according to new insights from PwC.

Marie Carr, global growth strategy leader, PwC, told InsuranceNewsNet that AI is reshaping the way talent is developed in the workforce.

“A number of folks immediately justify AI investments by saying, ‘Hey, here’s how we can make things faster, better, use fewer people and we don’t know what’s going to happen to the junior people because they’re normally doing that repeatable thing that’s going to go away,” she said.

“We started to step back and say, ‘Well, no, this is actually a wonderful opportunity for you to rethink and revisit how, exactly, you are developing your skills in your organization.’”

Bridging the AI skills gap

While AI is often framed as the biggest source of tension between older and younger generations of insurance professionals, Carr said it actually represents a perhaps-overlooked opportunity for more meaningful coaching, upskilling, leadership building and knowledge retention.

She noted that, in many cases, more tenured professionals have a lot of intuition, knowledge and critical thinking developed from years of experience. While that agent or broker may not know how to build a GPT, they have invaluable insights they can bring to the table — and AI, perhaps counterintuitively, is precisely the catalyst Carr believes can help wield that knowledge.

“One of the advantages of AI, if we really look at it from a skills perspective, is that it allows those things which are experiential. Having experience brings the cognitive piece. It brings the separating fact from fiction, as I like to call it, to the table. And so, I think that tension turns into a bridge. I think it now turns into an opportunity for some who are going to lean in and accelerate growth,” Carr said.

This can be done by putting experienced employees in the AI loop, such as having them be mentors to younger staff so they can not only provide coaching, but at the same time also learn tech skills from their juniors.

Carr noted that, when people begin to use AI for underwriting or claims adjusting, they may “jump in without any experience and use it without thinking about it, and they don’t challenge the recommendations that come out.” Similarly, for more complex cases, they may not really know how to deal with it.

“However, if you have a human in there and then if you match that human with even more seasoned people, what you now have is a wonderful coaching opportunity where that person now can say, ‘Here’s what you’re missing,’” she said.

The leadership, mentorship and knowledge-retention opportunities created through AI adoption “can’t quickly be codified when people are building their AI models and GPTs,” Carr noted, emphasizing the value of keeping humans in the loop not just for guardrails to AI output but to facilitate twofold upskilling.

“The bridging that happens is if you put the experienced people in the loop, you create an opportunity where you are getting them up the learning curve faster,” she explained. “You are capturing those opportunities where they can understand more deeply what makes them expert, what’s that company’s secret sauce. Pairing the emerging talent with the senior experts is a better, more modern learning model.”

This, in turn, helps to ensure centralized institutional knowledge is available to everyone and the organization has the highest quality, she said.

Rethink, not replace

According to Carr, tech leaders in the insurance field look at AI as a way to reimagine talent development and skills training rather than an opportunity to reduce staff.

In her opinion, although AI has become capable of handling repetitive tasks and even making recommendations to get agents started, “the complexity of insurance, no matter what we’re talking about, is not yet at the point where you can just turn all of it over to AI agents.”

PwC recently published insights identifying “loss of human expertise” as a “potential downside to AI systems,” stifling crucial opportunities for “workers to develop the skills” that are needed.

“Those who are starting to play with that differently are beginning to say, ‘Maybe I’m going to give staff more responsibility. Maybe I want to reimagine how this process goes. Maybe I want to change the way in which I am training and developing so that I can get more out of it,’” Carr said.

For example, she said, one leader reportedly weighed shifting away from a vertical tenure and time-based model to one based on skills development in the wake of AI.

“AI is allowing us to challenge the models of how we develop people, and I  think those who lean into it the right way will create space between them and their competitors,” Carr said.

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The Securities and Exchange Commission and three defendants in a civil enforcement case, including prominent social media influencer Taino “Tai” Lopez, say settlement negotiations are heating up.

All parties seek more time to try to resolve the matter, according to a Friday filing with the Southern District of Florida.

Federal authorities have charged the leadership of Retail Ecommerce Ventures with orchestrating a massive fraudulent securities scheme that allegedly raised more than $230 million from 660 investors nationwide.

In a joint status update filed pursuant to a court order, the SEC and defendants Taino A. Lopez, Alexander F. Mehr and Maya R. Burkenroad said they remain engaged in “active and detailed” discussions aimed at settling.

The parties said negotiations have included Zoom presentations, email communications and ongoing document production tied to issues raised during talks. According to the filing, SEC staff have been reviewing materials provided by the defendants, a process that has prompted additional inquiries and follow-up meetings.

While acknowledging that discussions should not be prolonged unnecessarily, the parties said they need additional time to review and analyze detailed financial information. The extension could allow SEC staff to make a recommendation to the agency’s commissioners in Washington on whether to resolve the case in its entirety.

Name-brand retailers sought

According to the SEC complaint, Mehr and Lopez used REV to buy up retail names on cheap terms. The partners bought RadioShack, Pier 1 Imports, Dressbarn, Modell’s Sporting Goods and Linens ‘N Things, with an eye on turning them into online sellers.

Lopez famously touted the approach in online promotional videos as “one of the best strategies you can invest in.”

The SEC alleges that of the $230 million raised, approximately $112 million was sourced through fraudulent offerings across eight specific REV “Retailer Brands.”

The defendants allegedly lured investors through aggressive social media campaigns on YouTube, Twitter and Facebook, as well as bi-weekly Zoom calls and lavish in-person events in Las Vegas and Puerto Rico.

Investors were offered unsecured notes promising annualized returns as high as 25% or equity units with monthly dividends of up to 2.083%. Lopez reportedly justified these high returns by claiming the company acquired distressed assets “cheaply” and maintained low overhead by employing overseas staff.

Lopez, 48, who produces a podcast, “The Tai Lopez Show,” hasn’t addressed the company’s collapse and the losses suffered by his investors, the Wall Street Journal reported. The day after the SEC filed suit, Lopez posted on X: “Never doom. No matter how horrible the situation, don’t ever think you’re doomed. Unless you are dead, all defeat is psychological.”

The parties asked the court to allow negotiations to continue while the case remains administratively closed. They said they will provide an update by April 10, indicating whether a settlement agreement has been reached or whether the case should be returned to the court’s active docket and new deadlines set.

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