FinMason - Using Technology to Help Uncover Hidden Opportunities in the Annuities Market

Annuities are often perceived as unattractive, but industry professionals are taking more and more notice of them. The US market is robust and growing, and much of this success is being enabled by modern technology.

In 2023, the US annuity market saw almost $400 billion in sales, a record high for the second year in a row – growing from only $260 billion in 2016. Products are greatly improved, and technology solutions are available to assist with the complexities.

Unpacking this growth further, fixed-rate annuities are taking market share from variable annuities, but this is to be expected given market performance and higher interest rates. The more interesting trend is the registered index linked annuities (RILA) market, which has grown its share since 2019 to over 14 per cent, and is expected to continue gaining.

To learn more about FinMason’s advanced modular technology solutions, visit www.finmason.com.