While many of the top life insurance companies are struggling, New York Life has not only kept their head above water in these times, but has been more profitable in the last several years than they ever have been. They have built an 'IT Powerhouse' that is helping the business thrive at a point where many institutions are struggling. Every NYL agent has been connected to a CRM data storage system that provides every detail on their clients, and other useful information when in the field.
New York Life has also increased their advertising over the past 6 months, using a method that in tough times, a company should advertise more to continue to bring in clients. Their tag line of a self-less gift has been very successful in connecting with struggling parents who are worried for their children's futures.
Maybe other financial institutions who are struggling should take a look at New York Life and their business plan and structure, which has continued to improve since their founding in 1845.