New York Life Insurance Company - Enterprise Tech Ecosystem Series

New York Life Insurance Company - Enterprise Tech Ecosystem Series

Summary

This report provides insight into New York Life's insurtech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, and its estimated ICT budget.

New York Life Insurance Company is a mutual life insurance company. The company and its subsidiaries offer insurance, retirement, and investment solutions to retail customers as well as insurance and investment products to institutional customers. Life insurance is the core business of New York Life. The company’s life insurance products include whole life insurance, term life insurance, universal life insurance, individual disability insurance, long-term care insurance, and variable universal life insurance. The company’s investment products include annuities, mutual funds, and exchange-traded funds. The company offers two retirement income products: Income Now and Income Later. The company also offers solutions for small businesses and their employees, estate planning solutions for retail customers, and wealth management services through its wealth management subsidiary, Eagle Strategies.

Scope

• New York Life focuses on the use of emerging technologies including cloud, cybersecurity, AI, and big data to improve customer service and simplify its business operations.
• The company is one of the partners and mentors at FinTech Innovation Lab, a 12-week accelerator program for fintech and insurtech companies. As a mentor, New York Life Ventures helps insurtech startups accelerate their business models.
• The company has invested in AI companies including EvolutionIQ, Lynx.MD, Wellth, and Cogito to accelerate the digital transformation of its operations.

• Gain insight into New York Life's fintech operations.
• Discover its fintech strategies and innovation initiatives.
• Learn about its product launches, partnerships, and investments.