New York Life Insurance Company, the largest mutual life insurance company in the United States and one of the oldest, is undergoing a significant transformation, driven by technology and artificial intelligence. At the helm of this initiative is Don Vu, the company’s Chief Data & Analytics Officer. Having spent 13 years with MLB Advanced Media, where he managed consolidated data for all 30 baseball teams, Vu understands the power of centralized data and scalable platforms and is leveraging these lessons at New York Life.
“It was a data geek’s dream,” Vu recalled, referring to his time at MLB. “We built a video streaming platform that was later white-labeled for major properties like HBO and WWE. It was true big data, with high-velocity streaming and complex models for churn and recommendations.”
Vu’s leadership at New York Life focuses on redefining the company’s data strategy. He emphasized that data and AI strategies are inextricably linked, reflecting a broader strategic shift initiated by New York Life CEO Craig DeSanto. DeSanto prioritized client and agent experience over a traditional product-centric focus.
“People presume that an old company is a sleepy one,” Vu said. “It’s not. Craig’s vision spans the entire business, enabling a flywheel effect where tech, data and AI flow across the organization.”
To support this transformation, Vu outlined four key pillars of New York Life’s data strategy:
- Data Foundation: Building the right talent, processes and technology infrastructure.
- AI Intelligence and Analytical Insights: Developing robust capabilities to generate actionable insights.
- Cultural Integration: Fostering a data-driven culture through initiatives like hackathons and expos.
- Customer and Advisor Experience: Enhancing client journeys by aligning offline and online touchpoints with business strategy.
“Our mission is to activate the power of New York Life’s data through enterprise AI and data products,” Vu explained. “It’s all about delivering tangible business impact.”
Generative AI: A Key Driver
Under Vu’s leadership, New York Life is leaning heavily into generative AI to unlock new opportunities. The company partners with industry leaders like OpenAI, Anthropic and AWS to stay at the forefront of AI innovation.
“We’ve been intentional to ensure AI is properly funded, with the right guardrails but also a paved road,” Vu noted. Key areas of focus include service and claims processing, where pilots and proofs of concept have already moved into production.
“We’ve had some successful initiatives and some that didn’t work out, but we’re always learning,” he highlighted. “The next frontier is going to be incredible, especially with vertical applications tailored to agents and clients.”
Vu emphasized the importance of embedding AI into all parts of the organization’s value streams, from client prospecting to retention and advisor experience. By aligning data and AI with business objectives, New York Life is ensuring a cohesive approach to innovation.
Building a Data-Driven Organization
To execute his vision, Vu has built a robust team of leaders, including:
- Chief Data Officer: Overseeing data engineering and governance.
- Chief Data Science Officer: Leading AI and machine learning initiatives.
- AI and Data Product Organization: Creating new disciplines to drive innovation.
- Head of Strategic Insights: Ensuring enterprise-wide alignment.
- Head of Operations: Ensuring seamless execution across teams.
“We’re fortunate to have a mix of long-tenured leaders who understand the organization and new talent bringing fresh perspectives,” Vu said. This blend of expertise is pivotal in driving change while respecting the company’s legacy.
A Transformative Future
Vu envisions a similarly transformative future for New York Life. “We’re just scratching the surface of what’s possible with data and AI,” he emphasized. “With the right strategy, tools and culture, we can continue to enhance our client and agent experiences while staying true to our 180-year legacy.”
Vu’s leadership exemplifies the power of data to drive meaningful change, demonstrating that even well-established organizations can innovate and thrive in a digital landscape.
