New York Life’s innovation and technology approach featured by Insurance Innovation Reporter.

Insurance Innovation Reporter recently connected with New York Life Business Information Officer Dave Castellani to discuss the company’s business-led technology approach and innovation efforts currently underway. The resulting feature, “Dave Castellani on New York Life's Business-led Path to Modernization,” explores:

• New York Life’s rapid move toward model-driven, fluidless underwriting for as many customers as possible and why this work is relevant for both during and following the Covid-19 pandemic
• technology’s role as a tool to enable New York Life’s financial professionals to serve policy owners in today’s virtual world while also preserving the intimacy of traditionally in-person relationships
• the need for all insurance organizations to be more nimble, flexible, and faster and the role of SVP Joel Albarella and the New York Life Ventures team in putting innovation at the forefront at New York Life
• the importance of having a skilled group of technology professionals adept at reengineering, simplifying, challenging the status quo, and communicating effectively
• how the New York Life Technology team takes an agile approach in addressing business needs

As Castellani explains, “New York Life has done a very good job of creating the right bridge between business and technology- such that it might be hard to distinguish in most meetings who comes from which side. This is why I call myself the Business Information Officer. I wanted to send a message that this would be a different technology organization, and when you think about agile, it's a business- not a technology-led approach. When establishing needs and priorities for technology development, we do it in MVP [minimum viable product] fashion, which allows us to continually innovate along a given value stream. Technology must give [architectural guidelines], but I cannot think of a successful project that hasn't been business-led from the beginning.”

Read the full article here. 

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