Corporate Social Responsibility

New York Life’s decades-long focus on serving underrepresented communities and addressing the financial gap was recently spotlighted in Best’s Review’s Insurers Working To Narrow $12 Trillion Gap in US Life Insurance Coverage.

Throughout the piece, Eric Jackson, Vice President of Diversity, Equity and Inclusion for Agency discussed traditional challenges in reaching underserved communities, New York Life’s long-standing commitment to supporting cultural markets, the company’s Cultural Ambassador Program, and the success of New York Life’s impact investment strategy.

Jackson also highlighted that New York Life’s efforts include moves to increase the number of financial advisers and the amount of impact investing in communities that traditionally haven’t been reached. Examples he offered of this work include:

• New York Life’s Cultural Ambassador Program, focused on building cultural competency,  launched last year where an individual from each of the company’s 100-plus general offices in the United States is appointed to advance diversity, equity and inclusion on a local level.
• The outcomes of the company’s impact investment strategy including the financing of 100 small, mostly minority- and women owned businesses; commitments for the creation of 15,000 units of affordable multifamily rentals; financing of three homeless shelters in New York City; and investments in support of community facilities offering health care, child care, and education and training services.

Jackson noted that the inclusiveness within New York Life’s field force of more than 12,000 agents and advisers is a key part of the company’s success in the cultural markets space. Today, these markets represent over 50% of New York Life agents’ sales and opportunities continue to grow.

Read Best’s Review’s “Insurers Working To Narrow $12 Trillion Gap in US Life Insurance Coverage” here.

RELATED CONTENT