Haven Life 2023 Carrier Forecast

Driving Increased Sales In Today’s Market Requires A Partner Who Offers Simplicity, Affordability And Reliability

When Haven Life disrupted the traditional life insurance business eight years ago by launching an end-to-end digital solution, it was with a mission to create a better, more accessible way for average Americans who wanted to build their household’s financial security, often during a major life event like the birth of a child.

Purchasing a life insurance policy often comes during a time of major change, when a person has newly acquired assets or loved ones to protect. Understandably, many of your clients will have difficulty finding the time and focus needed to research policies available to them. They put their trust in you to help them make a complicated decision that will give them peace of mind and assurance. In turn, you need to trust that the company you partner with is 100 percent reliable and won’t leave their policyholders high and dry 10 years down the road. When you sell Haven Life products you can feel confident that we are backed and wholly owned by MassMutual, a company with over 170 years of financial strength and stability and that your clients will be protected throughout the term of their policy.

With the general turmoil of the last few years shifting into an economic recession, your clients are being buffeted with instability and insecurity from many sides. With Haven Life you can feel confident that you are helping your clients improve their household financial security with an undisputed industry leader. In turn, your clients can rest easy knowing you provided them with a solution that will be around for the rest of their lives and for future generations to follow.

Technology that Works for the Broker World
While the industry awakens to embedding insurance, we’ve been building out our technology for years with our in-house expertise. Partnering with us enables your clients to benefit from your advice and expertise while they also enjoy our unmatched speed and simple, easy-to-understand process. Our digital, end-to-end solution has been built to be adaptable and flexible. Furthermore, our speed of issuance is second to none, giving you a major sales advantage with a clientele that expects fast turnaround times as consumer patience wanes in favor of immediate service. Although the average cycle time in the industry is often around 8 weeks, Haven Life boasts an average cycle time from application to issuance of only 11 days with our Haven Term product. Our Haven Simple product, which requires no medical exam, has an even shorter average cycle time of 2.4 hours.

When combined with an astute and caring broker, we are confident that our exceptional products, flexible integration options and best-in-class marketing support will ensure that your clients see the best life insurance purchasing experience possible.

Telesales: Brokers who are primarily telesales-focused will find that Haven Life has one of the best portals available for agents to sell through. Our portal allows advisors to capture an applicant’s answers over the phone and includes streamlining features like conversational prompts. We’ve also incorporated SMS consent and voice signature capabilities that take 20 to 30 minutes out of the sales cycle, leading to an increased lead-to-close rate. In fact, approved customers can log into their account and start coverage immediately.

Web-based: For brokers that are primarily web-based, we have a suite of API tools that can do everything from embedding a quote widget to setting up a fully hosted application, seamlessly integrating with a platform to provide quote and application pre-filling. We will have fully bindable APIs in Q1 2023 and are constantly adding to our robust library of creative marketing assets to help our web-based partners engage and activate their audience.

Competitive Rates Well Below the Industry Average
We know that one size does not fit all so, in addition to our two main products, Haven Term (offering medically underwritten policies up to $3 million and coverage) and Haven Simple (no medical exam needed and an average cycle time of 2.4 hours) we are always rolling out new products to underserved audiences. However, no matter the product, continual innovation to our industry-leading machine learning and AI ensures that we can accurately assess the risk and affordably price each user to offer competitive rates consistently below the industry average.

For example, in the chart above, our Haven Term products are priced 30 percent to 52 percent lower than the industry average. Our pursuit of innovation has allowed us to reflect similar industry-leading competitive rates across our entire product portfolio.

Absolutely 100 Percent Reliable with Backing from MassMutual:
More than any other, life insurance is a market that demands consumer trust and reliability. The purpose of life insurance is to provide the consumer with peace of mind and comfort that their loved ones will be financially secure even amidst an uncertain future. Unfortunately, today’s market is cluttered with new digital applications and provider startups that often prioritize their investors’ needs and spend much of their time ensuring they can keep their office lights on, leaving little time to improve their product portfolio or customer service. With 85 percent of respondents in a recent Haven Life survey saying they were at least somewhat worried about an impending recession, partnering with us will let you remove at least one burden from your client’s shoulders with an ironclad assurance that they’ve chosen a policy that will protect them no matter the latest headline. With the financial backing of MassMutual, a company offering unparalleled financial strength and stability, Haven Life will provide you and your clients with the benefits of a nimble, innovative insurance agency but with the complete assurance of over 170 years of industry experience.

Get to Know Us Better
Our mission is to bring financial security to everyday American households, and we do this by constantly improving our digital term life insurance solutions so that they are simpler, faster, and more affordable than anything else in the market. We have tremendous direct-to-consumer expertise and are ready to bring it to your business to help your clients meet more of their needs at those exact times when asset protection is at the top of mind. We are looking forward to expanding access to our life insurance solutions in the new year with partners who value reliability and care as much as we do. If you would like more information about what Haven Life can offer your clients, please email me at wade@havenlife.com.

Haven Term is a term life insurance policy (ICC21 HAVEN TERM in certain states, including NC; HAVEN TERM CA21 in California) issued by C.M. Life Insurance Company (C.M. Life), Enfield, CT 06082. In New York (DTC-NY) and in other states it is issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.

Haven Simple is a simplified issue term life insurance policy (ICC20 HAVEN SIMPLE in certain states, including NC) issued by C.M. Life Insurance Company, Enfield, CT 06082. Policy and rider form numbers and features may vary by state and may not be available in all states. Our Agency license number in California is OK71922 and in Arkansas 100139527.