Managing Life Insurance and Annuity Closed Blocks: Insights from the 2023 EY Survey on Strategic, Operational, and Technological Challenges

Anshul Kaushik

Abstract: This study investigates the challenges and opportunities of managing closed blocks in the U.S. life insurance and annuity sector, drawing on data from the 2023 EY Closed Block Survey. With over $2.4 trillion in legacy liabilities and increasing operational inefficiencies, the article explores how insurers are constrained by capital lock-ins, outdated technology systems, and siloed operations. Using executive insights across finance, actuarial, and technology domains, the paper highlights strategic blind spots and proposes practical interventions-ranging from reinsurance solutions to modernization of administrative platforms. It emphasizes the importance of ecosystem partnerships and performance-centric frameworks to unlock the latent value of closed portfolios.

Keywords: Life Insurance, Capital Efficiency, Technology Modernization, Reinsurance, Artificial Intelligence

How to Cite?: Anshul Kaushik, "Managing Life Insurance and Annuity Closed Blocks: Insights from the 2023 EY Survey on Strategic, Operational, and Technological Challenges", Volume 14 Issue 10, October 2025, International Journal of Science and Research (IJSR), Pages: 1091-1092, https://www.ijsr.net/getabstract.php?paperid=SR251017220558, DOI: https://dx.doi.org/10.21275/SR251017220558