Opportunity

As one of the largest insurers in the world, New York Life dictates its business with data. Whether to better assess risk, manage claims, or develop new insurance products, New York Life routinely leverages huge volumes of diverse data to drive its decision making and sharpen its competitive edge. New York Life set out to modernize the company’s data management  technology and processes in an effort to keep up with the growing scale and diversity of data it was dealing with as well as provide enterprise-wide self-service access, exploration and preparation of data. The company views data wrangling as a foundational component of their modern analytics platform.

Challenges

  • Preparing data for risk modeling was too slow. New York Life needed a solution that would accelerate their ability to integrate diverse data for calculating risk.
  • Inability to work with complex data. Business teams, such as marketing, relied on Microsoft Access and Excel, which didn’t allow them to scale to incorporate a growing number of diverse data sources.
  • Business users did not have self-service access. Much of the organization’s data wasn’t accessible by individuals outside of IT because of the technical requirements to access it.

Solution with Trifacta

  • Trifacta’s intuitive interface enables New York Life to provide data analysts, engineers and statisticians with broad-based access to a common platform for data exploration and preparation.
  • Trifacta automatically recognizes attributes in complex data formats, allowing the New York Life marketing team to incorporate a broader set of data to create advanced models for targeted marketing efforts.
  • With Trifacta’s user-friendly interface, New York Life is expanding the use of Trifacta as their enterprise-wide data wrangling solution to provide broad-based access with centralized governance and security.

Company Background

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. Please visit www.newyorklife.com for more information.

Resources

America’s largest mutual life insurer selects Trifacta as a data preparation solution for its next-generation analytics stack

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