Two leading insurers, Jackson and Nationwide, have announced updates to their advisor-focused platforms, reflecting a broader industry trend toward digital tools and strategic partnerships as competition intensifies in the annuities marketplace.
Jackson National Life Insurance Company has introduced a redesigned digital experience for financial professionals on its website. The new section features self-service enhancements and personalized content, including Product Match Pro, a tool designed to help advisors identify which Jackson products best align with a client’s retirement planning goals.
Aileen Herndon, senior vice president of distribution marketing at Jackson National Life Distributors, said the company sought feedback from advisors throughout the site’s development.
“We [wanted to ensure] our updates would meet their needs, reduce pain points and make it easier for them to do business with us,” Herndon said. “This improved digital experience is designed to provide clarity for advisors and clients, deepening existing relationships and attracting new advisors looking to solve their clients’ needs in retirement.”
Other enhancements include a tool to connect advisors with local Jackson wholesalers and a pending new business tracker, as well as tailored journeys based on advisor profiles and channels, such as banks, wirehouses, broker-dealers, and RIAs.
Meanwhile, Nationwide has partnered with Midland National to distribute the Midland National Capital Income fixed indexed annuity as part of its advisory annuity portfolio.
The commission-free product, designed for advisory practices, offers guaranteed lifetime income through a built-in withdrawal benefit and features an embedded health-activated income multiplier. This rider allows clients to double their annual lifetime payment for five years if they are unable to perform two of six activities of daily living, according to Nationwide.
In LIMRA's latest quarterly read of annuity industry sales, FIAs totalled $27.8 billion in Q1 2025. FIAs together with registered index-linked annuities (RILAs) accounted for 42% of all annuities, compared to just 30% a decade ago, according to LIMRA.
"Today’s investors have to balance the concerns of economic uncertainty with the need for greater upside investment growth potential,” said Keith Golembiewski, LIMRA’s annuity research director. “RILAs and FIA offer that balanced value proposition.”
Eric Fry, associate vice president of Nationwide Advisory product development, said Nationwide's collaboration with Midland National aims to address the needs of pre-retirees seeking reliable income solutions.
“Working together with Midland Advisory, Nationwide will now be able to offer another guaranteed product for advisors that will help them bridge the retirement gap for their clients,” Fry said.
The partnership also expands Midland Advisory’s reach beyond its current advisor network. Cooper Sinclair, head of strategy for Midland Advisory at Midland National, said, “With Nationwide and Midland Advisory working together, we expect to bring annuity benefits to more financial advisors and their clients.”
These developments come as the distribution landscape for life insurance and annuities continues to evolve.
According to a 2024 McKinsey report, third-party distribution channels – including independent advisors, broker-dealers, and banks – now account for a majority of annuity sales, with consolidation giving larger distribution partners greater influence.
"From 2017 to 2023, three large private equity–backed independent marketing organizations performed nearly 200 acquisitions. Within the same time frame, the top ten B/Ds completed about 50 acquisitions, with each of the top five B/Ds involved in at least four transactions," the McKinsey report read in part. "This ongoing consolidation is significantly altering the distribution landscape, with fewer, larger distribution partners gaining additional leverage and influence."
According to McKinsey, insurance product sales among third-party distributors outpaced outpaced career agent channels by six percentage points annually from 2016 to 2022. From a sales standpoint, the report said third parties have grown to account for 52% of life insurance sales and 81% of annuity sales.
Against that backdrop, it said insurers are increasingly focused on tailoring support and enhancing transparency for advisors, as well as developing loyalty programs to capture a greater share of advisor business.
"Insurers will need to establish a process of rigorous, ongoing feedback with advisors – shifting from what is typically a single check-in with advisors to continuous communication," McKinsey said. "This will keep insurers in close touch with advisor needs, allowing them to respond quickly if problems arise."
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