In 2024, life, annuities, and benefits insurers face persistent challenges like talent competition, technical debt, and rising consumer expectations, but new dynamics are emerging. Rising interest rates and the rise of generative AI offer both complexity and opportunity. Insurers are expected to continue investing in IT and modernization while using AI tools and API ecosystems to boost efficiency and customer experience. Key trends include growing demand for digital ease, pressure on distribution channels, the departure of institutional knowledge, cost control, a renewed spotlight on annuities, and broader cloud adoption across operations.

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