The pandemic, which is now approaching its first anniversary, has transformed modern life and accelerated existing trends for annuity insurers. We discussed the challenges and emerging opportunities facing annuities insurers during Novarica’s annuities Special Interest Group meeting on February 18th.
How did you get into insurance?
I studied journalism in college. Following graduation, I moved to Hickory, NC to work as a crime reporter for a local paper. After 20 months, I was looking for a new challenge. A friend recommended that I explore opportunities in insurance. Some of my family members also work within the industry as adjusters and actuaries, so after speaking to them about their experience, I made the leap. Every day I learn new things—keeping me engaged in my work.
2021 will see an influx of new companies launch debit, credit, and prepaid card programs in the U.S. and globally, fueled by card processing platforms and Banking-as-a-Service providers that have made it easier than ever to launch cards and other banking products. And other players, such as banks and credit unions, card networks, and card manufacturers, recognize an opportunity to support or partner with these new entrants to the card space. Although legacy banks and credit unions may not see an immediate impact to their cardholder base, these startup card programs have many advantages in the market: