Covr Financial Technologies Adds Haven Life to Distribution Platform

The Haven Term policy is now offered through Covr’s digital life insurance platform for banks, credit unions and their customers.

(Image source: Covr homepage.)

Covr Financial Technologies (Hartford) and Haven Life (New York), the customer-centric life insurance agency startup backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), have a partnership that brings products sold by Haven Life to the financial institutions that use Covr’s white-labeled digital life insurance platform.

Mike Kalen, CEO, Covr.

“Covr and Haven Life share a common vision to help people secure life insurance in the most efficient and cost-effective way,” comments Mike Kalen, CEO, Covr.  “We’re thrilled to add Haven Life to our platform. Their leadership in simplifying and tailoring insurance solutions to customer needs stands out as an industry innovator.”

The partnership is designed to enable both companies to reach an increasing number of financial institutions and their customers with high-quality and affordable life insurance options. Covr’s white-labeled digital consumer life insurance platform includes single session “apply and buy” insurance, multi-carrier insurance solutions, needs analysis tools, educational content, and telephone-based sales support.

Haven Term and Haven Life Plus

Yaron Ben-Zvi, co-founder and CEO, Haven Life.

Through the Covr platform, customers at banks and credit unions can now purchase the Haven Term policy, a fully underwritten term life insurance policy issued by MassMutual. Customers who choose Haven Life can apply online and, if approved, purchase life insurance from any device, in a matter of minutes. Haven Life’s value proposition to eligible customers includes, in addition to affordable coverage issued by a reputable insurer, access to Haven Life Plus, a rider that provides what the agency characterizes valuable no-cost benefits, including a digital will service, an on-demand fitness app, a digital document storage vault and more.

“I started Haven Life to make buying life insurance simple for busy families like mine,” comments Yaron Ben-Zvi, CEO of Haven Life. “I’m proud to have our products featured on Covr’s platform and am excited about the impact the partnership has already had to date. We look forward to continuing to expand access to affordable and convenient life insurance coverage through Covr.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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