Report

Business and Technology Trends, 2022: Defined Contribution Retirement Plans

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A focus on participant financial wellness across the board requires effective communications, reporting, and analytics.  
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August 31, 2022 –Plan providers must satisfy three constituencies: the brokers and consultants that help firms select defined contribution plans and specify features, plan sponsors, and plan participants. The challenge for plan providers is to satisfy these constituencies in a market where they compete with asset management firms, banks, and other financial services players while remaining cost-efficient and preserving margins.

This report provides an overview of business and technology issues for carriers offering defined contribution retirement plans, data about the marketplace, and 10 examples of carriers’ recent technology investments. It is based on the expertise of Aite-Novarica Group’s staff, conversations with Aite-Novarica Group clients and Insurance Technology Research Council members, and a review of secondary published sources.

This 36-page Impact Report contains one figure and two tables. Clients of Aite-Novarica Group’s Life, Annuities, & Benefits service can download this report and the corresponding charts.

This report mentions AIG, AllianceBernstein, Allianz Life Insurance Company of North America, Allianz Life Ventures, Alto, Ascensus, Barings, Blackstone, Capitalize, Corebridge Financial Inc., Empower Retirement, Equitable, Everdays, Fidelity Investments, Great-West Financial, Great-West Investments, Human Interest, InterGen Data, John Hancock, Legal & General Investment Management (Holdings), Lincoln Financial, Manifest, Manulife, Manulife Investment Management, MassMutual, MetLife Investment Management, MFS Investment Management, Micruity, Mutual of Omaha, Nationwide Ventures, New York Life Investments, Newport Group, NextCapital, Northwestern Mutual, Nuveen, Optimity, Pacific Life, Penelope, PIMCO, Principal Financial, Principal Global Investors, Prudential Financial, Putnam Investments, Realworld, SAVVI Financial, The Standard, Sun Life Financial, TAG Resources LLC, TIAA, Transamerica, Truist Financial, Vanguard, Vantis Life, Vestwell, Voya Financial, Voya Investment Management, and Western & Southern Financial Group.

About the Author

Nancy Casbarro

Nancy Casbarro

Nancy Casbarro is Head of Insurance Advisory at Datos Insights. She has over 30 years of insurance technology experience, most of which were spent in senior IT leadership positions at MetLife. Most recently, Nancy served as the IT Solutions Delivery Vice President for the Group Benefits business at MetLife, supporting products, claims, underwriting, distribution development, and national accounts. Nancy also has...

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Other Authors

Steven Kaye

Steven Kaye

Steven Kaye is Head of Knowledge Management at Datos Insights, and lead editor of the firm’s Business and Technology Trends in Insurance series. He has managed  a wide range of research projects since joining the firm in 2008. Previously, Steven worked for Accenture as an insurance researcher focused on the U.S. life and property/casualty markets. He also served in both knowledge management...

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