The New York Life Insurance Company is the third-largest life insurance company in the United States, manages over $700 billion in assets, and invests in one of the most forward-looking data science teams in the insurance industry.
Glenn Hofmann is Chief Analytics Officer at New York Life and has spent over six years positioning New York Life's data science team to impact the bottom line, productivity, and even recruiting. Hofmann joins Melisa Tokmak, General Manager of Scale Document AI, to talk about New York Life’s data science journey. Learn how Hofmann has deployed advanced machine learning solutions that allow the company to easily access and analyze the data at scale.
New York Life’s data science team evaluates the risk taken on when issuing a life policy. The group works closely with the underwriting department to identify opportunities for AI algorithms to be used to help manage that risk. Among other achievements, the data science team helped build the infrastructure for data science models to be developed and deployed at a massive scale. Also, the team has created a data hub, a consolidated library of data assets, refined to an analyzable format.