Northwestern Mutual 2018 Annual Report - Nuggets of Information
Northwestern Mutual’s 2018 Annual Report updates several key corporate initiatives, including:
New Planning Experience - A new digital planning experience was launched in October 2018. The tool was used to create more than 30,000 financial security plans by the end of the year. In 2019, it will feature more capabilities, including the ability to help clients get a clear picture of the value of permanent life insurance and understand the living benefits it offers.
Website and Mobile App - The website and mobile app allow 24-7 access to financial information, connect external accounts, track spending, pay bills, share documents safely, check the status of applications and engage with an advisor. The tool generated 1.3+ million website registrations and $71 billion of external assets were aggregated
Accelerated Underwriting - Improvements to make the underwriting process easier and faster for qualified applicants were piloted. It reduced the processing time to approve 23,000 applications from 2–3 weeks to just one day. Exam-free underwriting and the option for applicants to complete their Medical History Questionnaire online were also introduced.
Venture Capital and Technology Initiatives - New venture capital funds and data/technology initiatives are underway or being developed in 2019:
Northwestern Mutual Future Ventures
Cream City Venture Capital
Wisconn Valley Venture Fund
Cream City Labs - A lab for employees and community partners to ideate, experiment and solve business challenges.
Northwestern Mutual Data Science Institute - A new $40 million partnership with the University of Wisconsin-Milwaukee and Marquette University that will attract and develop top talent and advance the power of data.
To read the Annual Report, please click here.