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What is Haven Technologies?

Haven Technologies is a modern, advanced and cloud-native insurtech offering for the life, disability and fixed annuities industries that allows insurers to leverage our platform as their own.

Through our SaaS model, our solutions, including new business, in-force management and product development, are now available to everyone. This will bring value to the insurance industry in four primary ways:

  • Quickly launch new products, supporting all major distribution and servicing channels
  • Create faster, more flexible and transparent experiences
  • Streamline processes and operations
  • Migrate clients’ current books of business (open or closed book) and administering them efficiently

While our name is changing, our vision is not. We’ve always believed in making insurance less hard.

What products will Haven Technologies be offering?

Our cloud native platform—which we call Haven—is built around four main parts: new business, underwriting, policy administration and actuarial. Taken together, we offer an advanced solution for life insurance that enables faster set-ups, easier integration, total visibility and customizations for life insurance carriers.

Specifically, our new business solutions (Advisor and Direct) offer capabilities for advisors focused on traditional sales and “direct to consumer” for digital sales respectively. For both, it is natively digital, offers streamlined configuration, provides better insights and ensures customers can be served in the ways they want.

Our underwriting system (Underwriter) brings together the best of data-driven and human approaches. It supports a full, mature feature set across different types of underwriting, easy follow-ups and communication with stakeholders, built-in algorithms, and the ability to integrate different data sets.

Our policy admin system (Administrator) is built from the ground up for complex life products. It is equipped with a full feature set to support payments, policy maintenance and customer messaging, smarter data use, simplified product configuration, a single place for calculations, and customer support interface.

Finally, Haven Tech’s actuarial offering (Designer) combines cutting edge technology and insurance expertise. As a result, clients can easily design and price their current or migrated books of business.

What’s unique about Haven Technologies?

Insurtech is hardly new, and we recognize it is a crowded space.

But, we stand alone in a few ways.

First, you don’t have to look very hard to find scenarios where companies have invested in “advanced” policy admin technology or underwriting capabilities, only to realize the systems can’t talk to each other. We’re an integrated insurtech platform that will provide carriers with a single platform for their entire life, annuity and disability product suite—both existing and new.

Additionally, we’re one of the few cloud native insurtech platforms available. That means we are built on the latest technologies and can execute at scale. Each client will have their own “single-tenant” stack.

Further, we’re steeped in insurance. We’ve spent the past few years helping MassMutual—our first client—migrate thousands of policies to our system, powering their end-to-end digital offering and launching new products. Not to mention, the software that Haven Technologies now offers has been the platform behind Haven Life Insurance Agency’s direct-to-consumer life insurance experiences for the past six years, and will continue to be. As a result, we’re able to continue to refine our Direct New Business value proposition in real-time and pass along benefits to clients.

Finally, our definition of success looks a bit different than others. Our priority is to partner with clients who share our vision about making insurance more accessible. We’re not chasing volume, but rather hand-crafted quality relationships with a handful of customers.

Taken together, these differentiators mean we are the best positioned to help clients unlock cost savings, boost speed to market, optimize the end-customer and advisor experience, and drive revenue.

Why now?

Our industry is long past due for modernization. Look at what just happened during COVID. More people were interested in life insurance, but couldn’t schedule lab visits for fluids or have a paramedic in their homes for health assessments.

While the pandemic is just the most recent and visible cue for consumers about the need for change in life insurance, industry leaders have known this for a while. In many cases, home grown platforms are outdated and stodgy—and not to mention too expensive to fix—and existing vendor technology solutions are siloed. This is no longer sustainable.

Ultimately, transformation in the life insurance industry is inevitable. What will be the differentiator between the leaders and followers is those who recognize that the need to change is already here and act with intention versus those that continue as status quo. We want to partner with the former in order to help boost speed to market, optimize customer and advisor experiences, and drive revenue.

Ultimately, transformation in the life insurance industry is inevitable. What will be the differentiator between leaders and followers is those that recognize that the need to change is already here...

Was Haven Technologies the plan all along?

Looking back, there were seeds of Haven Technologies even in our earliest days as four people in an office rental launching Haven Life. We just didn’t know it at the time.

When we first started Haven Life, we wanted to solve a problem in the industry—the difficulty of purchasing life insurance. Over time, we saw there was a real desire to use the technology we were creating in ways we hadn’t originally thought about. It wasn’t just from consumers, but for others in the industry too, including advisors and underwriters. It was an evolution over time—all very incremental and born from trying to solve problems, not sell policies.

What is the relationship with MassMutual?

Haven Technologies is wholly owned by MassMutual, but operates with autonomy.

What does this mean for Haven Life? What is the relationship between Haven Life and Haven Technologies?

Haven Life will continue to serve as a direct-to-consumer, digitally focused life insurance agency. Policies will continue to be underwritten by MassMutual and its various subsidiaries, and policyholders and applicants will see no changes. Haven Life will continue its mission of making life insurance less hard through the distribution of its products. They will also continue to pursue new partnership opportunities to ensure they are reaching customers where they are and when they are ready to purchase.

While Haven Technologies is built on the success of Haven Life and will continue to serve as the tech platform powering Haven Life products, the two are separate entities. Haven Life remains a MassMutual agency.

How can interested partners connect with Haven Technologies?

We are eager to talk to potential partners. If you want to learn more or have questions, you can contact us at marketing@haventech.us.

Is Haven Technologies hiring?

Yes. We are hiring for a variety of roles. A full list of open positions is on our website.

While we are all working remotely right now, we are located in New York, with additional offices in Massachusetts.

Are you a carrier ready to talk about what's next? A potential colleague? Or, do you just have a question about where our offices are located? No matter what, we want to hear from you! Drop us a line and we’ll get in touch ASAP.

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