Computerworld November 14, 2023
During its 178 years, New York Life has had to adapt many times; now, AI is affecting nearly every corner of the insurance business, from hiring to client services, says Alex Cook, senior vice president and head of strategic capabilities at the firm.
In 2015, New York Life Insurance Co. began building up a data science team to investigate the use of predictive models to improve efficiency and increase productivity.
There were quite a few deployments of predictive models across the company with a little artificial intelligence to aid in automation. Most of the projects were not centered around machine learning and AI but traditional data science. Models were generally used to support actuarial assumptions, to aid agent recruiting, and...