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Regulation & Compliance

Regulators, standards bodies, and compliance obligations that shape how products are illustrated, sold, and administered.

  1. "Break Some Dishes" — A Sitting Commissioner on Where to Move Fast on AI, and Where to Stop Cold
    S1E18
    38:53

    "Break Some Dishes" — A Sitting Commissioner on Where to Move Fast on AI, and Where to Stop Cold

    Josh Hershman — Connecticut's Insurance Commissioner, and formerly a private attorney, deputy commissioner, open-source data-standards executive (openIDL), and life insurance company CEO — gives a regulator's candid map of AI in insurance. He borrows the EU's consumer-impact tiers to argue carriers should 'break some dishes' on internal use cases while moving carefully on anything that approves or denies a claim, calls annuity illustrations the single most tailor-made AI use case in the industry, and explains why McCarran-Ferguson, the NAIC's slow model-act machinery, and the ambiguous word 'testing' leave carriers frozen.

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  2. "There's No Account With Your Name on It" — Chris Orestis Debunks Social Security's Biggest Myth
    S1E17
    34:18

    "There's No Account With Your Name on It" — Chris Orestis Debunks Social Security's Biggest Myth

    Chris Orestis has spent 30 years — first as a Capitol Hill and White House staffer, then as a three-time company founder — trying to fix the equation American families face when long-term care hits. In this conversation, he explains why only about 7 million long-term care insurance policies exist across a population of 340 million, why "care creep" quietly turns family members into unpaid full-time caregivers, and why Medicaid should be a family's payer of last resort, not their plan of first resort. He and Paul dig into the harder math underneath the headlines: the Social Security and Medicare trust funds' insolvency date has moved up from 2035 to 2032, and nothing meaningful will happen in Washington until after the 2028 election. Chris lays out the likely fix — higher earner contributions, means testing, and a possible increase to full retirement age — and makes the case that annuities, hybrid life/LTC products, are the industry's best answer to a shrinking safety net. The conversation closes on AI: why consumers are souring on bots, why AI-enabled fraud against seniors is exploding, and why verifying that an agent is a real, licensed human may be the industry's next big trust play.

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