A new study from LIMRA and NAILBA examines how BGAs and IMOs are adapting their business models, strengthening partnerships, and investing in tools and services to support financial professionals across the independent distribution channel.
WINDSOR, Conn., WASHINGTON, D.C., March 26, 2026 — Independent distribution intermediaries are doubling down on growth, technology, and strategic partnerships as they navigate a rapidly evolving marketplace, according to the latest findings from the new Inside the Intermediary 5.0: A LIMRA and NAILBA Study.
The fifth edition of the study, conducted by LIMRA and NAILBA (a Finseca community), examines how BGAs and IMOs are adapting their business models, strengthening partnerships, and investing in tools and services to support financial professionals across the independent distribution channel.
According to the survey of more than 60 intermediaries — brokerage general agencies (BGAs) and independent marketing organizations (IMOs) — 85% say increasing sales of existing product offerings is a top priority, while 82% are focused on expanding their network of financial professionals to meet growing consumer demand for protection and retirement planning solutions.
“The intermediary channel continues to play a critical role in connecting financial professionals with the tools, products, and support they need to serve families,” said Bryan Hodgens, senior vice president and head of LIMRA research. “This research shows intermediaries are investing in technology, relationships, and scale to remain competitive and support producer success.”
The study highlights how scale is reshaping the intermediary landscape. Eight in ten intermediaries report affiliation with a national marketing organization (NMO), reflecting the growing importance of shared services, expanded product access, and competitive compensation structures.
Carrier relationships remain central to intermediary success. When selecting partners, intermediaries cite product pricing (52%), streamlined underwriting (40%), and unique or broad product offerings (33%) as their top priorities. Many also report the need for stronger communication, improved data integration, and enhanced wholesaler support from carrier partners.
Technology investment is accelerating as firms look to scale operations and improve producer support. Nearly half of intermediaries report plans to enhance technology solutions, while many are also expanding sales support capabilities and operational infrastructure to drive growth.
Artificial intelligence is also emerging as a meaningful tool across the intermediary channel. Half of respondents said they already use AI tools such as ChatGPT, while another 18% plan to adopt AI in the near future to support marketing, productivity, and business insights.
“The research underscores how the broad intermediary community continues to evolve to meet the needs of financial services professionals and the families and businesses they serve,” said Warren May, NAILBA leader. “IMOs and BGAs are increasingly investing in people, technology, partnerships and practice enhancement tools to help independent advisors deliver financial security solutions to their clients.
