Cigna's deal was prompted by high drug costs; Express Scripts is the largest remaining independent drug middleman.

No matter the segment, technology-led innovations focused on distribution will have a greater impact on the insurance industry in the near term.

The company will be taking a closer look at hospitals' high-level claims and making more denials or downward adjustments.

While savers are reveling in the gains reflected in their account balances, their employers are increasingly concerned over the retirement readiness of their workforce.