Alex Cook highlights how New York Life innovates to preserve.

Focused on how technological innovation is transforming the way insurers operate and engage with customers, the recent Bloomberg virtual event “The Digital Insurer: Changing the Way We Think About Insurance” featured the expertise of New York Life Senior Vice President and Head of Strategic Capabilities Alex Cook along with other thought leaders from across the industry.

Perspectives shared by Alex include:

• New York Life benefits from a 178-year history of innovation and the current environment has accelerated a variety of innovative initiatives.
• At New York Life, efforts in fluidless and model-driven underwriting that were underway well ahead of COVID-19 were expedited in response to the pandemic and have proven to be incredibly relevant in today’s virtual world.
• The innovative work across New York Life spans many teams including New York Life Ventures, the company’s corporate venture capital arm tasked with accelerating the pace of innovation across the company, and the Center for Data Science and Artificial Intelligence, which enables New York Life to make smarter, faster, and more model-driven decisions based on data and advanced analytics using machine learning and artificial intelligence.

Alex noted that beyond the impressive innovation taking place within the life insurance industry, the industry is also unique in that it provides a societal good and that this combination makes the space a promising one in which to build a successful career.

He added that even as technological innovation transforms so much, New York Life remains focused on preserving its core, especially the company’s commitment to the role that human-centered guidance, empowered by technology, plays in delivering long-term financial security, trust, and peace of mind.

View the replay of the panel here.

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