New York Life Insurance Co., America’s largest mutual life insurer, is continuing its tradition of a strong, increasingly multi-cultural agent sales force propelling the company to record increases in the company’s core life insurance market.
New York Life agents recorded an increase of 18% in sales of recurring premium whole life insurance for the first half of 2012, the company announced on August 21. The increase contributed to the overall rise of 4% in recurring premium life insurance sales through agents.
The story of New York Life is always one that centers on its agent force. New York Life’s recruitment of agents is the best six-month start in agency history, with an increase of 14% over the first half of 2011, the company noted. It hired 1,763 new agents thus far in 2012. The full year 2012 goal for agent recruitment is 3,700.
Much of the agent recruiting is coming from Latino/a, Asian Indian, Chinese and other cultural markets. Of the agent recruitment total in the first half of the year, 44% were from cultural markets, and 36% were women, according to a New York Life spokesman. In May, New York Life was named one of Working Mother Magazine’s 25 “Best Companies for Multicultural Women.” In order to promote the interests of women of color in corporate America.
Workplace diversity is something we foster because we recognize that harnessing the wealth of talents and perspectives of people from different backgrounds is not only crucial to our success as a company, it’s a part of our culture,” stated Joanne Rodgers, vice president and chief diversity officer, back in the spring.
The country’s largest mutual insurer also recorded double-digit numbers in long-term-care insurance sales, which increased 17% in the first half of 2012 compared with the year-ago first half.