Colin Lake exclusive Asset TV interview: Where the 7 Pillars to Delaware Life’s success meets the Annuity Landscape

In a recent Asset TV Interview, Colin Lake, President and CEO of Delaware Life Marketing, shared how the company is redefining annuity strategies to better serve advisors and clients in today’s evolving market.

At the heart of Delaware Life’s success are seven pillars that guide everything employees do: clear processes, transparent messaging, advisor focus, technology, integrity, training, and a winning culture. Together, they’ve driven nearly 50% compound annual growth since 2023—well above industry averages.

Shifts in Retirement Needs

Lake noted that changing demographics and longer lifespans are reshaping retirement planning. In 2025, a record 4.2 million Americans will turn 65, creating greater demand for solutions that balance risk, income, and longevity. Traditional approaches aren’t enough as clients face the risk of outliving their savings.

Product Innovation

This shift has fueled growth in Fixed Index Annuities (FIAs) and Registered Index-Linked Annuities (RILAs). Once niche, they now make up 44% of the $434 billion annuity market, according to LIMRA, up from just 23% a decade ago. Clients are seeking steady income, downside protection, and growth potential—needs these products are designed to meet.

Lake also cautioned against the industry’s heavy reliance on the S&P 500, which now drives over 60% of FIA sales. Over-concentration creates pricing pressures and sustainability concerns. Delaware Life instead emphasizes product diversification and competitive renewal rates.

The Role of Technology and AI

Technology is transforming not only how products are marketed and sold, but also how to educate consumers on customized products that suit specific retirement goals and risk tolerances. AI is enabling personalized solutions, custom indexes, and better risk management. Lake stressed the importance of transparency and education, ensuring advisors and clients fully understand these evolving products.

Looking Ahead

According to Lake, three priorities are shaping the future of annuities:

  • Diversification – Expanding beyond the S&P 500 into broader index options.
  • Simplicity & Clarity – Designing products that are easier to understand with transparent rate structures.
  • Reliability – Prioritizing consistent performance over headline rates to maintain trust.

“Trust comes from consistency,” Lake emphasized. “We’re not chasing the highest rates but focusing on long-term value.”

Watch the interview to learn more about how annuities are adapting to today’s market and how Delaware Life’s culture drives success and innovation.