IRI VISION: CLOSING THE CLIENT EXPECTATION GAP

Recently, I spoke at the BISA Conference about a reality we can no longer ignore: the client of tomorrow is already here. Their expectations are already being shaped by the best digital experiences across industries. The annuity industry still has some work to do to meet expectations.

At the same time, expectations aren’t standing still, they’re compounding and the speed at which they’re escalating is what I referred to as “expectation inflation.” Each great digital interaction instantly resets the bar. And with AI enhancing nearly every experience, that inflation is compounding faster than ever.

Our clients don’t judge us by our claims of innovation. They judge us by how easy we are to do business with—how long things take, how clear our processes are, and how much effort is required. In too many cases, this effort and friction remain too high in our industry.

AI is the Fuel
AI is pouring fuel on this reality. It’s compressing patience and redefining what “fast” feels like. What once felt acceptable now feels slow .

The question is no longer whether expectations will rise. They already have. The question is whether we can move fast enough, as an industry, to close the gap before clients decide we can’t.

How do we fix it?
This isn’t a technology problem. It’s a foundation problem.

Without structured, interoperable data that enables true straight-through processing, AI will simply accelerate activity to the next manual checkpoint, where everything slows to a halt.

Building the Foundation
Through the Insured Retirement Institute’s (IRI) Digital First for Annuities initiative, the industry is building structured, interoperable data standards that allow systems to speak the same language.

When that foundation is in place, technology can finally enable true straight-through, frictionless processes. AI can then become an accelerator, enhancing transparency, embedding compliance guardrails, and delivering speed without sacrificing trust.

We’re already seeing promising momentum through collaboration and experimentation across the industry as evident in the IRI Hackathon. This effort creates space to step outside legacy constraints and prototype the kinds of experiences clients increasingly expect.

Expectations Aren’t Waiting
But prototyping is just the beginning. The real challenge is scaling these innovations quickly.

And that’s where IRI’s Digital First for Annuities is playing a critical role by enabling straight-through processing and frictionless experiences across the industry.

Expectations aren’t waiting. And the longer we take to implement, the wider the gap becomes. The industry’s commitment to implementing new digital solutions will ultimately determine how well we meet clients’ needs today and tomorrow.

Contact: Dan Zielinski