New York Life Insurance Company – Digital Transformation Strategies
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
New York Life Insurance Company Enterprise Tech Ecosystem Report Overview
New York Life has been leveraging big data and investing cloud-based solutions to enhance underwriting process and improve customer service. The annual ICT spending of New York Life was estimated at $1.8 billion in 2021. A major share of this spending is earmarked for acquiring ICT services, software, and hardware from vendors. 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. 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 New York Life digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.
Digital Transformation Strategies
New York Life collects, consolidates, and analyzes a variety of data, including financials, customer data, and recorded voice conversations between customer service agents and customers to quickly make business decisions and offer better services to customers. Additionally, New York Life is exploring ways to apply artificial intelligence (AI) to improve the underwriting process. Then company is also adopting cloud-based solutions to streamline HR operations and enhance customer service. The company deployed a cloud-based human capital management platform called SAP SuccessFactors Employee Central to allow managers and employees to perform various HR tasks via a single portal.
To gain more insights on digital transformation strategies and initiatives of New York Life, download a free report sample
New York Life Technology Theme Focus
New York Life is utilizing a number of emerging technologies including cloud, big data, and AI to improve operational efficiency, reduce costs and improve the services offered to its customers.
New York Life Technology Theme Focus
To know about other technology themes under focus for the company, download a free report sample
New York Life Technology Initiatives
New York Life forged several strategic technology partnerships and collaborations, technology developments and roll outs, acquisitions, and technology investments over the past few years.
For instance, New York Life partnered with Trifacta (a US-based provider of data wrangling software) to use its Trifacta Wrangler Enterprise software for preparing, governing, and securing data for data analytics projects. New York Life and healthtech company Cerner partnered to develop a solution that allows New York Life to safely retrieve digital health data of life insurance applicants from the EHR systems of hospitals. New York Life partnered with Visual Capitalist to develop a data visualization platform called Advisor Channel. The platform provides easy-to-understand, up-to-date data-driven infographics and charts on key investment trends and capital markets to New York Life’s financial advisors, helping them provide investment advice to customers.
For more insights on other technology initiatives of New York Life, download a free report sample
New York Life ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
New York Life ICT Spend by Function
For more insights on ICT spending by function, download a free report sample
New York Life ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
New York Life ICT Spend by Channel
For more insights on ICT spending by channel, download a free report sample
New York Life External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
New York Life External ICT Spend by Segment
For more insights on external ICT spending by segment, download a free report sample
New York Life Digital Transformation Strategies Overview
Total ICT Spending 2021 | $1.8 billion |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Cloud, Big Data, and AI |
This report provides:
- Insight into New York Life’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into New York Life’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships, investments and acquisitions.
Visual Capitalist
Trifacta
Cerner
Epic
Empathy
Majesco
Together
Informatica
EvolutionIQ
Lynx.MD
Wellth
Cogito
Brella
Pivot
Table of Contents
Frequently asked questions
-
What was the total ICT spending of New York Life in 2021?
The annual ICT spending of New York Life was estimated at $1.8 billion in 2021.
-
What are the key ICT spending categories by function for New York Life?
The key ICT spending categories by function for New York Life are communications, data center, network, application, end-user computing, service desk, and management.
-
What are the key ICT spending categories by channel for New York Life?
The key ICT spending categories by channel for New York Life are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
-
What are the key external ICT spending categories by segment for New York Life?
The key external ICT spending categories by segment for New York Life are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), network and communications, consulting, and others.
-
What are the key technology themes in focus for New York Life?
The key technological theme in focus for New York Life are cloud, big data, and AI.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Related reports
View more Life Insurance reports

