Advisory Board Example

New York Life Insurance Company

Goal: New York Life Insurance Company’s (NYLIC) vision was to:

• Recruit and retain more women agents
• Attract and/or promote more women into management
• Market their products to more women.

Initial Steps:

• Develop a Women’s Advisory Board (WAB) for the Dallas General Office
• Work with NYLIC corporate office to select five other cities to start WABs. The five cities were: Chicago, Washington DC, Phoenix, Pittsburgh and Sacramento.
• Choose a chair
• Orient the key personnel of each General Office (GO) on the WAB program
• Provide a how-to manual to each GO
• Oversee selection of WAB members using the chair’s recommendations
• Work with each chair to establish first meeting agenda.

Next Steps

• Maintain communication with all WABs chairs
• Write quarterly reports on progress of the various WABs for each General Manager, WAB chair and NYLIC
• Provide assistance to WABs chairs
• Facilitate communication between Chairs and Linda Denny, NYLIC’s Corporate Vice President in charge of the Women’s Initiative
• Continue to monitor progress of WABs.

Examples of Women Involved in the NYLIC Women’s Advisory Boards

• National recipient of Women Business Owner of the Year and numerous other awards
• Previous candidate for Arizona State Senate, former Executive Director of Center Against Sexual Assault, and Director of Marketing and Public Relations for third largest community college district in the US
• Chief of Marketing Outreach for the SBA
• VP Metropolitan Development & Women’s Business Issues
• Chair and CEO of a multimillion company
• Senior VP, major national corporation
• PH.D, Professor of Women’s Studies at major state university
• Executive Director, Girls Inc.
• CEO, Girl Scouts
• Entrepreneur of the Year and US Small Business Administration Women Business Advocate of the Year
• First female agent hired in Fairfax, VA office of NYLIC, who after switching careers, won the Women in Science and Engineering Award
• President of Women’s Bar Association of Maryland
  

Top 10 Results

1. Increased visibility for the General Office in a variety of ways, including nominating and winning the YWCA’s Mentors and Allies Annual Award for Mark Koskovich, Dallas Office Managing Partner
2. Helped spread the word about career opportunities, including recommending 100+ high-quality potential female agents, many of whom joined the organization
3. Formed alliances with other organizations, such as ClubCorp, Women’s Development Center in Chicago
4. Acted as a focus group for NYLIC initiatives, such as a new advertising campaign
5. Introduced Linda Denny to many major governmental officials in the WAB cities
6. Sponsored several high-profile events in WABs cities, including an event in Phoenix benefiting the National Women’s Museum of History and honoring the top five elected state officials, all of whom are women
7. Hosted events, such as the Women’s Power Breakfast, to recruit and market products to women, where WAB members served as hostesses and speakers
8. Helped managing Partner determine the best ways to use his philanthropic dollars to sponsor and attend women’s events
9. Positioned a number of NYLIC agents on community boards
10. Mentored new female agents to insure their success

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