The Insured Retirement Institute (IRI) is a member-driven association.
Except as otherwise indicated below, all member company employees are welcome to join as many committees and working groups as they would like, and there is no limit to the number of member company employees who can participate in any particular committee or working group.
Visit your IRI account to manage committee and working group participation.
IRI Operations and Technology Committees
Digital First Steering Committee
This group is made up of executive level members from carriers and distributors that desire to create digital-first financial professional experiences. The long-term goal of the committee is to ensure annuities are easily supported across various platforms and alongside traditional investments in the tools financial professionals use. There are three desired outcomes this group will strive to achieve: i) Provide a digital-first model eliminating the critical friction points from the financial professional experience and decreasing the time to issue and remove the hassle from the experience. ii) Embed lifetime income products in the platforms and tools used by financial professionals. iii)Maximize the ROI for the technology spend to support real-time data.
Meeting Schedule: Monthly calls
Criteria: One representative from IRI carrier and distributor member companies only may serve as committee participants. The representative should be an Executive leader across the industry that drive the strategy at their company and have decision power.
IRI Staff Liaison: Katherine Dease
Operations and Technology Committee
The Operations and Technology Committee provides a place for members to receive updates on the work being completed throughout the Ops and Tech committees and subcommittees. The committee supports the retirement solutions industry with digital-first for annuity operational efficiencies, standardization, and elimination of friction in the annuity journey.
Meeting Schedule: Bi-monthly calls
Criteria: Open to all IRI member company representatives who want detail and updates on the work within IRI Operations and Technology.
IRI Staff Liaison: Katherine Dease
Strategy Implementation Committee
The Strategy Implementation Committee’s objective is to establish scalable, agile digital-first standards that improve financial professional experiences, streamline back-office processes, and enable annuities to show up in more places. It reports to the Digital First Steering Committee and serves to execute the strategy of the Digital First for Annuities initiative. It focuses on the real-time digital-first capabilities for financial professionals, integrating annuities alongside traditional investments, and addressing operational challenges. The committee reviews proposals, forms working groups to define standards and best practices, and collaborates with the technical writers as needed. Unresolved issues are escalated to the Steering Committee.
Meeting Schedule: Monthly calls – additional when needed.
Criteria: (Approval required) Directors, VPs, senior leaders of the Digital-First first mover firms, those actively implementing digital first standards, and operations leaders.
IRI Staff Liaison: Katherine Dease
IRI Operations and Technology SubCommittees
Holistic Financial Planning with Annuities Subcommittee
The objective of the Subcommittee is to increase financial professionals modeling and using annuities in their holistic plans and portfolios. [DZ1] They report to the Digital First Steering Committee. The subcommittee is addressing modeling annuities in financial planning tools along with visualizing the value of the annuity in planning tools and reporting tools after purchase. The top financial planning tools and reporting tools are working with the IRI community to make modeling annuities easier for financial professionals. Roadmap items include off-the-shelf baseline values, education of the annuity value, the creation of cash flow reports, and visualizations showing the secured income and protection within a holistic plan and the consumer’s portfolio.
Meeting Schedule: Weekly
Criteria: Sale or Product Experts from IRI member companies working with financial planning tools and interested in attracting more financial professionals to use the tools.
IRI Staff Liaison: Katherine Dease
Governance Subcommittee
The Governance Subcommittee is responsible for governing and publishing the standards for the Digital First for Annuities initiative. Subcommittee members [DZ1] will validate the consistency of the standards, give the final approval, and ensure release readiness. This committee will work closely with the Strategy Implementation Committee and the Working Groups.
Meeting Schedule: Weekly
Criteria: Invitation only to technical representatives from member companies actively participating in standard implementations.
IRI Staff Liaison: Katherine Dease and Hannah Pikus
Process and Regulation Subcommittee
The Process and Regulation Subcommittee has a dotted line to the Digital First Steering Committee. This subcommittee, in conjunction with the Compliance and Implementation Committee, examines regulatory requirements that are barriers to achieving a Digital First for Annuity business case. This group proposes alternative best practices and solutions to improve or eliminate the regulatory barriers. Additionally, this group represents Operations and Technology in the ongoing conversations around DOL and Standard of Conduct.
Meeting Schedule: On-Demand calls
Criteria: Open to all IRI member company representatives.
IRI Staff Liaison: Katherine Dease