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March 28, 2023
How long before regulators open up the overall life insurance illustration rules?
New guidelines for IUL illustrations take effect May 1.

Life insurance illustration rules on the clock as full rework looms

But it won’t be too long before the National Association of Insurance Commissioners reopens the overall life insurance illustration regulation, an industry executive said Monday.

March 28, 2023
Illustration of many small figures walking across a giant $100 bill. Clear pricing is what Americans want most from financial services firms.

‘Clear fees’ cited as most important for financial services firms

Americans cite “clear and understandable fees” as the No. 1 thing they want from financial-services firms, with a higher importance placed on pricing considerations than at any time since 2010.

March 28, 2023
Why Monte Carlo simulations can sell retirement investors short

Commentary: Why Monte Carlo simulations can sell retirement investors short

Never lose a client to an advisor who uses Monte Carlo simulations.

March 27, 2023
Illustration of bank building structure tumbling with money and coins littering the landscape.

Investors, regulators, legislators anxious as banking system faces another shaky week

Lawmakers look to question regulators as banks reinforce the dikes protecting the system.

March 27, 2023
Regulators want more information on insurers use of AI and big data.
Surveys are going out this week to life insurers on their use of AI and machine learning.

State insurance regulators pursue more data on industry use of AI

A state insurance regulator group is finishing up its next industry survey to learn how home insurers are using artificial intelligence and machine learning.

P/C insurers faced with accelerating churn and switching behaviors

March 27, 2023

Property/casualty insurers had one of their worst years in 2022 as runaway inflation, shortages and higher prices drove up claim costs. As we look at the year ahead, insurers must not overlook the impact of the turbulent economic environment on consumer behaviors.

March 24, 2023
5 Minute Finance logo

How a defined process eases client concerns

I have found that having a transparent financial planning process helps clients shake-off those first meeting jitters and helps us focus on finding ways to improve their financial well-being.

Study shows significant growth in 401(k) balances for younger workers who consistently participate

March 24, 2023

Account balances for consistent 401(k) plan participants rose from year-end 2016 through year-end 2020, according to a new study from the Employee Benefit Research Institute (EBRI) and the Investment Company Institute (ICI) titled “What Does Consistent Participation in 401(k) Plans Generate? Changes in 401(k) Plan Account Balances, 2016–2020.”

March 24, 2023
Private equity interest in insurance assets is generating concerns.
Many Americans are concerned about risky assets.

Private equity insurance investors facing higher capital charges for CLOs

State insurance regulators held a robust discussion Thursday on an interim proposal to increase capital charges for insurers who invest in riskier collateralized loan obligations (CLOs).

The dos and don’ts of discussing market volatility on social media

March 24, 2023

Many advisors see the potential in social media to build their personal brands, and social selling is a powerful strategy for creating trust.

March 24, 2023
Image showing symbols for male and female, with the male symbol sitting on a taller stack of coins.

Study finds gender gap in financial, retirement security

While 41% of men say their financial situation has improved over the past year, the same holds true for only 26% of women, according to Corebridge Financial’s survey.

March 23, 2023
Graphic figures illustrating a variety of personality traits.

When it comes to investment decisions, 2 personality traits stand out, study says

Although there are five major personality traits, only two directly relate to investing style, according to a recent report.

March 23, 2023
Image of two senior citizens looking surprised and concerned with the word Ready? behing them.

Is your client emotionally ready for retirement?

Advisors help people become financially ready for retirement. But they also must help people decide whether they are emotionally ready to stop working.

5 steps for insurtechs to better engage carriers and industry stakeholders

March 23, 2023

To make the most out of working with carriers and other insurance industry stakeholders, consider this approach to product building and customer engagement.

March 23, 2023
Insurance regulators are concerned about the growing use of AI.
How to best regulate the use of artificial intelligence is a quandary for insurance regulators.

Insurance industry reps leery of NAIC big data, AI questions

A state insurance regulator group intent on questioning insurers on their use of models and big data managed to unite industry and consumer representatives in opposition Wednesday.

March 22, 2023
Image of word "Fed" sitting atop cash.

Fed raises rate .25 against a backdrop of bank solvency fears

Squeezed between unrelenting inflation on one side and a sudden wobbly banking sector on the other, the Federal Reserve on Wednesday split the difference and raised interest rates just a quarter point.

Transamerica reveals workplace benefits forecast for 2026

March 22, 2023

Transamerica today unveiled predictions from workplace benefit professionals on a wide range of employee benefits issues looking toward 2026. Transamerica…

Chubb becomes first U.S. insurer to limit insuring oil and gas extraction projects

March 22, 2023

Chubb Limited today announced new underwriting criteria for oil and gas extraction projects that will require clients to reduce methane emissions, a byproduct of oil and gas production that are among the most severe greenhouse gases.

March 22, 2023
Image of a woman's feet standing on the words "Steps to Success."

7 steps on how to be a successful female financial advisor

Succeeding as a female advisor in today’s male-dominated financial-services industry is not a task for the faint-hearted. Two high-performing female advisors share advice for moving a practice from good to great.

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