New York Life Recognized for Award-winning Customer Satisfaction Among Group Life Insurance Providers by J.D. Power

NEW YORK--(BUSINESS WIRE)--
New York Life, America’s largest¹ and most admired² mutual life insurer, has ranked as the highest group life insurance provider for customer satisfaction³ in the J.D. Power U.S. Group Life Insurance Study.

The J.D. Power 2021 Group Life Insurance Study measures the experiences of customers of the largest life insurance providers in the United States. Overall customer satisfaction is determined based on performance in a variety of factors, including application and orientation, communication, interaction, price, product offerings, and statements.

“Being recognized as the top-rated group life insurance provider for customer satisfaction by the consumers who participated in this year’s J.D. Power study is extremely gratifying,” said Scott Berlin, senior vice president and head of New York Life Group Benefit Solutions (GBS) and Group Membership Association Division (GMAD). “The achievement highlights not only New York Life’s company-wide focus on superior customer satisfaction, but also the hard work of our talented team members and financial professionals across our group insurance businesses.”

New York Life offers a range of group life insurance solutions to more than 12,000 employer groups that reach over nine million employees, and 300 professional associations that cover an additional one million members.

“We are there when our customers need us most because we passionately believe that financial protection, well-being, and peace of mind are at the heart of building better futures,” added Berlin. “The recognition from J.D. Power is a noteworthy testament to New York Life’s enduring commitment to the businesses, individuals and families we serve.”

ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States¹ 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. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies⁴.

New York Life Group Benefit Solutions products and services are provided by Life Insurance Company of North America or New York Life Group Insurance Company of NY, subsidiaries of New York Life Insurance Company. Life Insurance Company of North America is not authorized in New York and does not conduct insurance business in New York.

ABOUT J.D. POWER

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.

J.D. Power has offices in North America, Europe, and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.

¹ Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/2/2021. For methodology, please see http://fortune.com/fortune500/.

² In the 2021 World's Most Admired Companies ranking from Fortune, New York Life Insurance Company claimed the top position in the Insurance: Life and Health category of the annual ranking of corporate reputation. Rankings are determined by a proprietary formula that weights nine criteria to create an overall score. Please visit https://fortune.com/franchise-list-page/methodology-worlds-most-admired- companies-2021/ for methodologies.

³ *. New York Life received the highest score in a tie in the J.D. Power 2020 U.S. Group Life Insurance Study of customers’ satisfaction with group life insurance providers. Visit jdpower.com/awards for more details.

⁴ Individual independent rating agency commentary as of 9/30/2021: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).

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Jacqueline Meere
212-576-5301

Jacqueline_Meere@newyorklife.com

New York Life

Source: New York Life