Joel Albarella, head of New York Life Ventures, discusses New York Life’s pioneering and present-day efforts around InsurTech and LifeTech. Some key points:
- New York Life has been focused on innovative startups in the insurance space since 2012—before InsurTech even existed. InsurTech evolved as a subset of FinTech.
- New York Life coined the phrase “LifeTech” to classify startups that were decidedly not InsurTech but were germane to life insurance.
- These startups help accelerate New York Life’s ‘speed to insight.’
- The marketplace is validating our approach of investing outside of the traditional InsurTech vertical.
Go back to our newsroom to read more stories.