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March MaDness and LIC
By Dean Lambert
Executive Director, LIC
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I am writing this article on the Vernal Equinox. Spring has arrived! It seems like everyone, no matter where you lived, experienced some wild weather this winter. Yesterday the low temperature in Phoenix, AZ was 95 degrees, with a record high reported at 106. In March. We had the coldest winter in 10 years here in Connecticut, with the greatest snow accumulation in many years. Florida even received some snow!
Let's not get started on the stormy geopolitical situation at hand. Suffice it to say, the NCAA basketball tournaments are a welcome distraction even for people who are not avid fans of the sport.
"Madness" also aptly describes the current pace of action at the Life Insurers Council. We are currently planning....
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Industry News
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If You're in Final Expense, Join Us in St. Louis
The LIC Final Expense Workshop is THE place to network, learn, and pick up ideas and solutions focused on maximizing final expense profitability. Join us June 16 – 17, 2026, at the Hilton St. Louis at the Ballpark with our host, RGA.
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Study Offers Road Map for High-Impact AI Applications
A joint study by KPMG and The University of Texas at Austin, of 1.4 million workplace interactions with artificial intelligence, reveals teachable differences between routine and sophisticated AI use that offer organizations a concrete road map for identifying and scaling high-impact AI capability.
More AI News:
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Insurers Have Promised Private Credit Funds $90B
A March 18 ThinkAdvisor article noted that insurers held about $110 billion of the U.S. private credit assets in 2024, and they had legal commitments to provide $90 billion in additional capital to U.S. private credit funds.
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Rithm Completes Acquisition of CL Life
A.M. Best affirmed its B++ rating of CL Life following its December 2025 acquisition by Rithm Capital Corp., removing it from "under review with developing implications."
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NAIC Addresses Rising Concerns about Complex Assets
The NAIC's principles-based bond project, designed to improve risk assessment, was covered recently in Institutional Investor.
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Final U.S. Retail Annuity Sales Set New Sales High, Totaling $464.1 Billion in 2025
Total U.S. annuity sales increased 7% to $464.1 billion in the 2025, according to LIMRA's U.S. Individual Annuity Sales Survey, which represents 93% of the total U.S. annuity market. Fourth quarter sales jumped 14% to $117.2 billion, representing the ninth consecutive quarter of $100+ billion in sales.
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U.S. Individual Life Insurance New Premium Tops $17.5 Billion to Set New Sales Record in 2025
Total new annualized premium exceeded $17.5 billion in 2025, up 10% year over year, according to LIMRA's individual life insurance industry sales estimates. Individual life insurance new premium has set records for four of the past five years, including 2025. The number of policies sold rose 7% for the year.
In the fourth quarter of 2025, new annualized premium totaled $4.9 billion, up 6% over the prior year. Policy count rose 9% in the fourth quarter.
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AI Second Opinions Harm Advisor-Client Trust
New research reported in Investment News shows AI "second opinions" may weaken advisor motivation and client relationships.
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iPipeline Strengthens Executive Leadership Team with Strategic Revenue and Professional Services Appointments
iPipeline, a leading provider of digital solutions for the life insurance and wealth management industries, announced the appointment of Loren Brockhouse as Chief Revenue Officer and Mike James as Executive Vice President, Professional Services. Both leaders report directly to iPipeline CEO Pat O'Donnell.
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Kuvare Responds to Bloomberg Report
Kuvare Holdings issued a statement to address a February 19 Bloomberg news item regarding Kuvare's commercial relationship with Blue Owl Capital.
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2025: Record-Breaking Year for Annuity Sales via Banks and BDs
Insurance NewsNet reported on a Saltzman Associates report of institutional annuity sales, noting that "banks and broker-dealers did especially well," in the year's overall record-breaking annuity sales.
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Why Diligence Matters More Than Domicile in Asset-Intensive Reinsurance
In a recent Life Annuity Specialist article, Andrew Edelsberg, Head of Business Development for Life Solutions at Gallagher Re, addressed concerns surrounding offshore domiciles, including transparency, solvency requirements, and regulation.
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SBLI's EasyTrak Term Now with Chronic Illness Rider at No Additional Cost
SBLI announced that its popular EasyTrak Digital Term product now automatically includes a chronic illness rider at no extra premium cost.
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Verisk: AI Editing Tools Fueling Insurance Fraud
New data from the Verisk State of Insurance Fraud study reveals that more than one third of consumers would consider digitally altering a claim image or document, even if it would break insurer rules. Insurers reported a sharp rise in manipulated media, with nearly all agreeing that AI-powered editing tools are fueling an increase in digital insurance fraud.
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Insurers Predict Tech Disruptors for 2026
New research from Digital Insurance focuses on the biggest technology disruptors and trends for the insurance industry in 2026. Survey participants, mostly insurance carriers and distributors, provided "predictions concerning the risks they're watching, the impact of macroeconomic trends, and how AI and other technologies are being integrated into their operations."
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NAIC Expands AI Evaluation Pilot Program to 12 States
Law firm Fenwick reported that California is has joined the NAIC pilot program on its AI Systems Evaluation Tool, bringing the total to 12 states.
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SWBC Announces Angelica Palm as New CMO
SWBC, a diversified financial services company, announced Angelica Palm as its new Chief Marketing Officer. Palm will lead SWBC's marketing initiatives, positioning the company for continued success in its mission to deliver impactful solutions, enduring relationships, and exceptional service.
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61% of Organizations Have No Formal Change Communication Strategy Despite Ranking It As Most Pressing Need
In a business environment defined by constant change, Gallagher's 2026 Employee Communications Report found that change management is now the most valued communications skill among industry and HR teams.
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Pathwork and NGL Launch GenAI Underwriting Solution
Pathwork and NGL Insurance Company, in partnership with LifeCare Assurance Company, announced the launch of PreQual Manager, an AI-powered inbox that enables underwriting teams to respond to broker inquiries faster and more consistently.
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TruStage names Ram Subramanian Chief Marketing & Brand Officer
TruStage announced the appointment of Ram Subramanian as Chief Marketing & Brand Officer. Subramanian will lead enterprise marketing strategy and execution, brand development, customer experience and marketing operations.
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LifeSecure Announces Retirement of Brian Vestergaard, Additions to Executive Leadership
LifeSecure Insurance Company announced the retirement of Brian Vestergaard, Vice President of Product and Marketing, effective March 4, 2026. The company also named Jason Bushey Chief Risk Officer and Kathy Tanner Vice President of Strategy and Mergers & Acquisitions, effective earlier this year.
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Upcoming LIC Events
LIC Human Resources Committee Virtual Meeting
April 9, 2026, 1:00 – 4:00 p.m. ET
Find out what fellow HR executives are doing, share ideas and practical solutions, and learn about hot HR topics.
LIC ERM Committee Virtual Meeting
April 23, 2026, 1:00 – 4:00 p.m. ET
Share strategies for enterprise risk management at small-to-midsize life insurance companies and fraternals.
LIC Operations and Technology Summit
Hosted by Equisoft, Montreal
May 11 – 13, 2026
Leverage the knowledge and experience of peers and experts in AI, change management, and other operations and technology topics relevant to leaders in customer service, administrative services, technology, innovation, data systems, marketing technology, cyber security, systems integration, project management, and operations strategy.
LIC Laws and Legislation Committee Spring Conference Call
May 19, 2026, 2:00 – 3:30 p.m. ET
The latest insights and updates for legal and compliance executives.
LIC Final Expense Workshop
Hosted by RGA, St. Louis, MO
June 16 – 17, 2026
Networking, research, and strategies for managing profitability in final expense.
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LIC 2026 Premier Sponsors
Thank you to our LIC Premier Sponsors, who support all of LIC's activities throughout the year.
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Parkway Advisors
Parkway Advisors is focused on being the best and most respected provider of service in the insurance industry. Parkway offers asset management, consulting, and statutory investment reporting services that are customized to the needs of each insurance client. Through Parkway's emphasis on personal service, custom solutions, and strong communication, our clients have enjoyed historically strong performance success, especially during the financial crisis and the low interest environment that has followed. www.parkwayadvisors.com
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iPipeline
iPipeline is a leading provider of low code, cloud-based software solutions for the life insurance and financial services industry. Through our SSG Digital, end-to-end platform, we provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management. www.ipipeline.com
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Equisoft
Equisoft is a business-first technology company dedicated to helping insurance and wealth management organizations reach their goals. Specialized expertise: Over 25 years of experience helping small and mid-sized life insurers & fraternals solve their biggest challenges through digital transformation. www.equisoft.com
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About The LIC Bullet
The Bullet is the official e-newsletter of the Life Insurers Council, which has been providing networking and practical business solutions for life insurers since 1910. As a council of LIMRA and LOMA, LIC serves the unique needs of small to midsize member companies, offering a personal network of peers with practical solutions to shared challenges. The Bullet delivers immediate and relevant industry news and editorial.
LIC E-News Online Community: The LIC Bullet is posted in the LIC E-News online community at LICConnect, where we welcome dialogue and input from our readers. All Bullet subscribers have access to this forum, and others can request access by contacting lic@loma.org.
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Feature Editorial (Full Text)
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March Madness and LIC
By Dean Lambert
Executive Director, LIC
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I am writing this article on the Vernal Equinox. Spring has arrived! It seems like everyone, no matter where you lived, experienced some wild weather this winter. Yesterday the low temperature in Phoenix, AZ was 95 degrees, with a record high reported at 106. In March. We had the coldest winter in 10 years here in Connecticut, with the greatest snow accumulation in many years. Florida even received some snow!
Let's not get started on the stormy geopolitical situation at hand. Suffice it to say, the NCAA basketball tournaments are a welcome distraction even for people who are not avid fans of the sport.
"Madness" also aptly describes the current pace of action at the Life Insurers Council. We are currently planning and promoting no fewer than six meetings and events coming up between now and June.
LIC Operations and Technology Summit, May 11 – 13, Montreal, Canada
Registration is open NOW for this event, hosted by Equisoft. We expect a record turnout due to the "summit" nature of this event. Throughout our time in Montreal, we will explore all aspects of how and at what points in an enterprise that operations and technology interact.
Leaders and team members will enjoy subject matter experts on operations and technology strategy development, change management, modernization and innovation, the potential of tech-enabled customer service, and contemporary approaches to staffing. All this, plus ample time to network with your peers - central to any LIC meeting. CLICK HERE FOR INFO.
LIC Final Expense Workshop, June 16 – 17, St. Louis, Missouri
Registration is open NOW for this event, hosted by RGA. As with the 2026 Operations and Technology Summit, we are expecting a record turnout for this premier LIC event - the only one of its kind in the insurance industry.
Final Expense sales are experiencing a growth trend due to somewhat easy access and broad consumer appeal. But there are inherent challenges to profitability in this space, which we intend to address directly during the 2026 LIC Final Expense Workshop. Central to this annual event is the LIMRA/LIC Final Expense Survey. We are happy to report more participating companies than ever, which makes the survey even more useful as a strategy resource for companies in, or considering, the final expense marketplace. Audrey Wittenburg and the member task force will share the highlights of the 2026 study (2025 sales data) and facilitate a discussion on the findings.
We will also enjoy content related to distribution, D2C marketing and sales, mortality management, a member company case study, and profitability challenges. Of course, there will be lots of networking opportunities during our Final Expense Workshop. CLICK HERE FOR INFO.
In addition to the major events detailed above, the following virtual meetings are open for registration:
LIC Human Resources Committee Virtual Meeting, April 9, 1:00 – 4:00 p.m. Eastern
To accommodate the very busy schedules of HR leaders, we are hosting this meeting on a Thursday between 1:00 p.m. and 4:00 p.m. Eastern. We are planning to have members from two companies share their experiences related to culture and change management, one specifically related to executive succession. We'll also learn about one organization's efforts to create a "knowledge base" that provides secure and easy search/access to their company policy, process and education resources. REGISTER HERE.
LIC Enterprise Risk Management Virtual Meeting, April 23, 1:00 – 4:00 p.m. Eastern
Over the past few years, risk management has been moving increasingly towards enterprise implementation; meaning the once-siloed checklists and processes are now aligned, coordinated, and managed across all operational areas. Some organizations have chief risk officers, while others manage risk at the executive team level. The virtual nature of the 2026 ERM Meeting allows people from all aspects of this discipline to join in the discussions and shared best practices of staying ahead of those things that might disrupt operations and responding when events cannot be avoided. Join us on April 23 for this informative experience. REGISTER HERE.
LIC Laws and Legislation Committee Conference Call, May 19, 2:00 – 3:30 p.m. Eastern
There's always lots to cover during this conference call, and we are again grateful to Kathy O'Farrell of First Consulting for leading the discussion on the latest regulatory activity affecting the insurance industry and particularly small to midsize carriers. REGISTER HERE.
InsurTechNY Spring Conference, March 30 – 31, New York City
We are pleased to be affiliated with the InsurTechNY Spring Conference happening March 30 – 31 at Chelsea Piers in New York City. Many LIC members and affiliates attend this event, which brings together traditional insurers, insurtechs, investors, and other solution providers to support the insurtech community.
We are planning a gathering on the evening of Tuesday, March 31, for LIC members attending the event. If you are attending the event and wish to join us for a dinner hosted by Homesteaders Life Company, please email me at dlambert@limra.com. CLICK HERE FOR INFORMATION ON THE INSURTECHNY SPRING MEETING.
LIC meetings and events would not be successful without LIC's Premier Sponsors, who provide financial support for every meeting in a given year. We are grateful to Parkway Advisors, Equisoft, and iPipeline for their generous commitment to our members throughout 2026.
Finally, you can see all the planned 2026 LIC events and tentative 2027 dates online. We are excited to continue providing members with excellent networking and shared learning opportunities and welcome your input on content ideas/suggestions! CLICK HERE for the main LIC Meeting page or CLICK HERE to download the latest version of our program schedule.
Dean Lambert, Executive Director, LIC
(475) 372-5298 (mobile)
dlambert@limra.com
Visit LIC's Website | LIC on LinkedIn
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