Company: New York Life

New York Life Insurance is one of the largest life insurance companies in the United States. At the heart of New York Life is a commitment to be there for our customers when they need it—whether today or decades into the future. We have delivered on that promise for over 175 years by investing wisely, growing a portfolio of strategic businesses, and remaining true to the mission as a mutual company, accountable only to our customers, not to outside investors. For our customers, that means having the confidence to know they can build a better future for themselves and those they love.

Women represent 36% of the Directors on the Board of New York Life as of January 2023. Female directors also hold essential leadership positions: Donna Kinnaird is the chair of the Audit Committee and Barbara Novick is the chair of the Investment Committee. In addition, Michele Buck was the most recent independent Lead Director. The New York Life C-Suite is made up of 32% women and the workforce overall consists of a majority of women (59%).

Inspired by a long tradition of service and humanity, the New York Life Foundation has consistently supported underserved and diverse communities by putting the power of people, financial investments, and other resources behind organizations and initiatives that address economic and societal inequalities.
To help address inequities on a systemic level, the New York Life Foundation awards general operating grants to organizations to support positive change for women, communities of color, individuals with disabilities, and individuals who identify as LGBTQ+.
The company’s impact on communities extends into how we engage within the supply chain. New York Life has a longstanding supplier diversity program. This program is integrated into our procurement process and brings diverse vendors into our vendor selection process. Additionally, we engage directly with diverse suppliers outside the procurement process, such as through our mentorship program, and actively participate with various industry partner associations. With this multifaceted approach to our program, New York Life supports many of the diverse communities where they live and work. For instance:

• New York Life has a Supplier Diversity inclusion mandate that aims to include diverse suppliers in the competitive bidding process, where such suppliers exist, to provide underlying services, helping to achieve a 90% inclusion rate.
• New York Life’s 2021 diverse spending with minority, women, LGBTQ+, disabled, and Veteran owned businesses was 5.04% of addressable spending.
• 41.2% of New York Life’s diverse spending was with women-owned businesses.
New York Life is committed to its diverse spending goals, reporting its diverse spending to its Board of Directors annually.
New York Life’s commitment extends to our policy owners as well. Since the late 1900s, New York Life had a Cultural and Target Markets unit focused on facilitating knowledge, ideas, and resources to help agents maximize impact, reach, influence, and business growth in the communities where our workforce lives and works. This unit supports New York Life’s sales force, who serve many diverse communities, and has resulted in great success with women, who represented 35.5% of our agent population as of 12/31/22, which is the highest ratio ever reported.