Disruption in the Sales Chain: How Haven Life Is Working to Close the Protection Gap

by Tom Scales, June 8, 2016
Case Studies
North America

Abstract

Celent has released a new report titled Disruption in the Sales Chain: How Haven Life Is Working to Close the Protection Gap. This report was written by Tom Scales, a research director of Celent’s Americas Life and Health Insurance practice.

Celent interviewed senior leaders of Haven Life to gain insight into their company and their direction. This report shows the history of the organization, how their model is different, and clues to the future of the industry.

As life insurance adds the direct channel to the longstanding agent channel, the differentiators will be based on innovation and technology. This report shows how Haven Life Insurance Agency, LLC and its parent organization Massachusetts Mutual Life Insurance Company are leaders in the industry transformation.

This report contains 23 figures.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

2

 

Key Research Questions

2

The Background

3

 

Industry Trends

3

Building the Company

7

 

The Idea

7

 

The Team

7

 

The Timeline

8

 

The Parent Company: MassMutual

9

 

The Location

9

 

The Culture

10

Making It Work

11

 

The Process

11

 

The Product

12

 

The Technology

13

The Customer Experience

14

 

Mobile Capabilities

18

 

The Challenges

19

The Results

26

Conclusion

27

Leveraging Celent’s Expertise

28

 

Support for Financial Institutions

28

 

Support for Vendors

28

Related Celent Research

29

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