New York Life using AI data science for underwriting

Digital Insurance spoke to Alex Cook, Head of Strategic Opportunities at New York Life Ventures, which is the life insurance company’s technology arm to modernize carrier operations. One of New York Life Ventures’ products is GuideMe, a platform for working with insurance clients to gather the facts needed for underwriting and set goals for their life insurance. This division of the company is also responsible for MyNYL, which simplifies and streamlines ongoing customer interactions such as changing coverage, paying premiums, and filing claims. Adapting New Life’s insurers required New York Life to handle the healthcare industry’s complex infrastructure when collecting health risk data, Cook recalls.

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