Emphasizing the importance of recognizing and supporting diverse markets, New York Life’s Chairman and CEO Ted Mathas spoke exclusively with The Wall Street Journal in an interview featured in the November 6 article, “New York Life’s Pitch to Entrepreneurs: Sell Life Insurance.” The discussion explored how New York Life has invested in the diversity of its field force and is supporting agents of color to serve their communities.
The interview covers how New York Life has been able to substantially expand and diversify its agent force by reaching into diverse communities. Key to the company’s approach is training financial professionals who are from these culturally diverse communities and know them well. The agents focused on serving these diverse markets are “the main part of our business today,” said Mathas, noting that they represent more than half of all agent sales.
The article notes how New York Life seeks out people who want to be in business for themselves—but not by themselves. Mathas explains how New York Life offers a wide range of services and support to help its agency force succeed. He also discusses how people are re-evaluating what they want to do with their lives due to the pandemic and looking for careers that have greater purpose—which aligns with the role of life insurance professionals who deliver financial peace of mind to people in communities across America.
Mathas outlines how New York Life continues to build on its commitment to diversity and inclusion. Most recently, this is through the creation of a new Diversity, Equity, and Inclusion role within the Agency department that will further the company’s focus on nurturing talent and helping its agents of color network and expand their career opportunities.
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