MassMutual introduces Haven Technologies
MassMutual is introducing Haven Technologies, “an advanced insurtech platform for the life, fixed annuities and disability industries” that will offer a SaaS model to make their solutions available to carriers.
The platform is built around four main parts: new business, underwriting, policy administration and actuarial. Taken together, the platform offers an advanced solution and enables faster set-ups, easier integrations, enhanced visibility and customization for insurance carriers.
“The life, annuities and disability industries have gone as long as they can relying on legacy technology, whether that’s outdated homegrown platforms or a patchwork of vendor solutions. It’s time they stop running on fumes and start transforming to deliver a seamless digital experience, reform complex advisor driven businesses, and launch new products with speed. We are eager to partner and build hand-crafted relationships with the most forward-thinking carriers in order to do just that.” – Yaron Ben-Zvi, CEO of Haven Technologies.
“Over the past few years, and as a result of using the Haven Technologies platform to power our digital offering, we’ve seen an improved customer experience, faster time-to-issue of policies and an increased ease of doing business for advisors. That’s translated into substantial cost savings across new business activities as well as legacy blocks of business we’ve migrated over. Because of this, we are quickly moving to consolidate 100% of our new and legacy life business onto a single platform, something we would have thought impossible just a few years ago. This will help us stay ahead of the technology transformation happening in the industry.” – Gareth Ross, Head of Enterprise Technology and Experience at MassMutual.