MassMutual's Haven Life announces 3 partnerships

July 25, 2023 6:27 AM

Group of blurred people walking at a coworking center. — Group of office employees at coworking center. Business people walking at modern open space. Motion blur. Concept

Digital Insurance reviews a high volume of news leads every week for this and other stories. Please send press releases and other information to kaitlyn.mattson@arizent.com

Haven Life, a digital life insurance agency that is owned by MassMutual, announced three new partnerships. The company is working with Policygenius, an online insurance marketplace that is a part of Zinnia, a digital services company, to offer Haven Simple to Policygenius customers. The company is also partnering with Blend, a cloud banking company, to provide life insurance options for people purchasing a home. The partnership will enable coverage through Blend Insurance Agency. WEA Member benefits, a financial services organization, through an agreement with Haven Life, now offers pre-K through 12 public school employees the ability to purchase term life insurance through a website or a licensed agent with Associates of Clifton Park.

Nationwide launched Pet HealthZone, an online platform to provide information on pet health risks. The platform leverages claims data from millions of pets over the last 40 years to offer age and breed-specific insights as well as advice on caring for pets. Dr. Jules Benson, vice president, pet health and chief veterinary officer at Nationwide, said in a statement: "By relying on data-driven insights available only from Nationwide, we can help to inform pet parents about the likelihood of health issues for that pet and prompt important conversations with their veterinary healthcare teams."

Bain Capital Insurance, the insurance investing arm of Bain Capital, announced the closing of its inaugural private equity fund at $1.15 billion. The fund is focused on middle-market transactions across the value chain. Matt Popoli, partner and global head of Bain Capital Insurance, said in a statement: "We've built a scaled team of insurance investing experts, deep researched-backed themes, and the value creation approach to embrace that complexity, all supported by the global and platform advantages of the integrated Bain Capital platform."

Loop, a car insurer, announced an equity program for independent agents. The program, which will debut later this year, uses equity incentives and local-impact grants on top of a traditional commission-based compensation structure. "We're looking for Independent Agents that have a real presence in their community, who have boots on the ground, and who genuinely care for their clients and neighborhoods," said Mari Mergerson Sharpe, LOOP's head of member & agent success. Sharpe will be spearheading the initiative.

Augment, a reinsurance broker, launched with funding from Altamont Capital Partners. The insurtech offers bespoke solutions across geographies, product lines and uses multiple strategies to manage volatility with its partners. Sam Gaynor, managing director, Altamont, said in a statement: "They've identified a clear market need to help their P&C customers address the most complex risk capital challenges in the most efficient manner, and we're excited to lend platform-formation capabilities to form a brokerage firm perfectly suited to today's market dynamics."