The two-year-old Haven Life, an online insurance platform has launched an improved buying experience that is said to prioritize the delivery of real rates over quotes and features a friendlier application process and fewer laborious questions.
Haven Life, a life insurance startup that’s backed and wholly owned by MassMutual, says it has listened to customer feedback to make buying life insurance simple.
Haven Life’s underwriting platform uses AI to analyze applicant information and compare it with historical outcomes. It powers the ability to provide real policy rates in a matter of minutes, an immediate decision on eligibility, and, in some cases, coverage without a medical exam.
“We’ve always had bigger ambitions for Haven Life,” comments Yaron Ben-Zvi, CEO and co-founder of Haven. “When we first launched, we were mostly focused on showing that technology could be used to make buying life insurance simpler and more approachable. We did that. Now, we’re turning our attention to delivering the best possible end-to-end experience and developing a new kind of life insurance brand.”
Haven Life features include:
- Real rates & quotes:
- A shortened & improved application: Many Haven Term applicants will only answer around 30 clear, conversational questions instead of 60 to 100 to apply for the same medically underwritten policy.
- Mobile Friendly: Haven Life has seen a dramatic increase in the number of customers who purchase life insurance from their smartphones.