New York LifeFounded in New York City in 1845

One of the oldest life insurance companies in AmericaNew York Life1845Mass Mutual1851Northwestern1857MetLife1863Prudential1875

Unparalleled Tradition of Financial StrengthFinancial Strength NYL has a history notable for steady financial growth. Reaching a record of $280 billion in assets under management* as of 12/31/07.Conservative Tradition- To keep our promise to pay, New York Life has historically maintained a prudent management philosophy and a conservative investment strategy. Almost three quarters of our assets are held in bonds, and 92% of that bond portfolio is comprised of investment grade bonds. Mutuality - Being a company solely owned by policyowners allows NYL to look past short-term goals and manage for the long-term interest of its clients.

* Assets Under Management consists of assets the Companys domestic and International insurance operations and assets the Company manages for third party investors, including mutual funds and pension plans.

Group MembershipAssociation DivisionRecognized leader in providing life and health insurance products to membership associations with over 50 years of experience and commitment to the marketplace.First case written in 1955 (Still a valued business partner!)Diversified Portfolio of ProductsLong term commitment to Affinity/Association marketMore than 600 Association/Affinity Group endorsementsDistribution Primarily Through 40+ Broker/TPA organizations

Group Membership Client Profile Types of Groups Insured

Professional Associations Military Associations Union Groups/Labor Unions Alumni Associations School Districts Financial Institutions Educational Associations Employer Groups

600+ Association/Affinity relationshipsMarketing collateral all over the boardLots of product customizationMultitude of creative packagesClients develop their own direct mail packagesTime intensive development and review processWorkload heavy for key internal resources

The Marketing Reality

Examples of Creative VariablesEven within a single productClient name, address, contact info, logo Standard versioning General State disclosures and NYL specific state requirementsRoyalty languageDomestic partnerThe 4 NOTS - GLB (financial institution clients)Client look and feel requirementsPlan benefits (i.e. Underwriting limit max $1MM, $2MM - termination age) Grace period pay your premiums within the grace period OR the end of the grace period. Where marketed excluded states or addition jurisdictions (PR and Canada)Creative for different channels/purposes fulfillment package, direct mail, desk drop

Traditional ProcessExisting ProductCreative AgencyBroker/Third Party Administrator (TPA)Association ClientNYL Client ServicesNYL ComplianceImagine..this multi-step process for 500+ packages per year!ChangesSubmissionApprovalSubmissionReview for filed form compliance and NYL requirementsSubmissionChanges CommentsRe-submissionAdvertising ReviewSubmission

Creative Development and Review ProcessCreative AgencyBroker/Third Party Administrator(TPA)Association ClientNYL Client ServicesNYL ComplianceChangesSubmissionApprovalSubmissionReview for filed form compliance and NYL requirementsSubmissionChanges CommentsRe-submissionAdvertising ReviewSubmissionNYL New Product Information NYL New ProductNew ProductEducationProduct proposal, filed/approved application and group policy

Theres got to be a way to streamline

So, I started asking myselfWhat would be the benefits of driving improvement in the process?What results would I want to deliver in this process?

Heres what I came up withTime Compress cycle time from product launch to marketing launchRegulatory- Ensure complianceCost Reduce both soft dollar and hard dollar costsSimplify review processFinancial Earlier marketing date means product sales start earlierand so does premium collection

OK, But How????I began with a basic innovation principalrelated worlds*..identifying situations or events that in some way mirror your creative challenge. The principals or stimuli of anothers approach can be identified and reapplied to your own challenge. Where in the world has my challenge (or anything like it) been faced before? What can I learn and steal from it?

Concept Regulatory filings are done with bracketing and a memo of variability

?WHAT IF!, Ltd. Sticky Wisdom - How to Start a Creative Evolution at Work. West Sussex, UK:Capstone Publishing, 2002

Making it REAL in an established organization1) Develop straw man for concept2) Garner buy-in key internal stakeholders Executive sponsorCompliance/Legal Defined parameters/limits Client Services Reviews creative for regulatory compliance of materials and NYL specific requirementsThe Process

Making it REAL in an established organization (contd)3) Meet individually andSpeak their language Tailor the benefits/value prop to each stakeholder Decrease workload - All stakeholdersSimplify - Defined parameters pre-approved Client Services & ComplianceShorter time cycle from product regulatory approval to marketing launch Executive & Client ServicesCampaigns drop sooner, revenue booked earlier- Executive & Client Services Cost controls Same creative template customized for each product/affinity partner Executive, Client Services and ComplianceTenacity dont give upAPPROVAL!!!!!!!

ImplementationLaunching the initiative was a learning and iterative process Creative development with Insurance Direct Marketing focused agency (Norris Creative and JCG Group)Master Creative approach Drive relevancy for diverse affinity base in a cost efficient mannerKitchen sink Template Can always take things out, but putting things in can require redesign of layout ($$$ and Time) Share draft creative with Client Services for feedbackWrite memo of Variability to Compliance and submit with creative package for review.First creative package approved for marketing!

Even More BenefitsAdditional process streamlining- Once compliance approves Variability memo and creative no need to review each Affinity partners version of the creative package. Provide final mailed pieceNYLNew Product

Creative AgencyNYL Client Services

NYL ComplianceEducationApprovalCommentsSubmissionSubmissionSubmissionProcess for Master Template Process for Client Versioning NYLNew Product

NYL Client Services

Imagine..these streamlined processes for new product marketingTPASubmission of client informationSubmission

Even More Benefits (contd)Develop alternative uses of creative - fulfillment, statement insert, web Printer partner with direct mail production, creative services and distribution expertise drives cost and time efficiencies. Were not standing on our laurels.We see an opportunity to increase variability options for text and tag lines to target product offers to specific demographics / lifestages/ psychographics

WIN-WIN-WINAchieved all benefits initially identifiedplus someWord spreads.Additional buy-in from affinity partners

Success requires a strong foundation Strong partnership with internal stakeholders Clearly articulated strategy/vision document, directing benefits to your audience The right external direct mail experts and partners make all the differenceIndustry and marketplace knowledgeCreative, Printing and Distribution expertiseResults and Advice