WIRED article details New York Life’s GenAI adoption.

A recent WIRED article sponsored by Boston Consulting Group titled “Leveraging GenAI to Augment the Human Experience in Insurance” details New York Life’s ongoing innovation efforts and adoption of generative artificial intelligence (GenAI) across the company.

“As we look to exceed our customers’ expectations, it is imperative that New York Life further embrace and leverage new technology, including exploring how GenAI can help us become more agile, innovative, and effective,” Head of Strategic Capabilities Alex Cook said in the piece. Noting the necessity of enterprise-wide collaboration, he adds, “These efforts are not exclusively technology, data, and AI initiatives — they are undertaken in full alignment and partnership with New York Life’s businesses.”

Chronicling New York Life’s GenAI journey, the article explains how over 200 potential GenAI use cases were considered with business impacts and risks carefully weighed to ensure that those undertaken would ultimately help streamline processes, enhance work, and create more seamless experiences. The piece specifically zeroes in on two use cases from across New York Life’s various businesses that support the company’s service representatives and claims managers, respectively.

Both use cases exemplify New York Life’s “human-in-the-loop” philosophy in which humans are, and will remain, indispensable as AI tools aid and augment human decision-making – not replace it.

In closing, Cook said, “Our ongoing GenAI adoption will remain focused on initiatives that move the needle for the company, particularly driving operational efficiencies, improving experiences, and delivering further value to New York Life’s clients, agents, employees, and institutional partners.”

Read WIRED’s “Leveraging Gen AI to Augment the Human Experience in Insurance” to learn more.

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