January 12, 2023 – New York – Haven Technologies, the cloud-based quote-to-claim insurtech platform, is partnering with the GraceKennedy Financial Group (GKFG) to offer the insurer’s Creditor Life products on its core insurance platform.
Specifically, the partnership between Haven Technologies and the GraceKennedy Financial Group will focus on supporting the rollout of the insurtech’s platform for three GraceKennedy Creditor Life products to the insurer’s current Antigua bancassurance partner. Additionally, Haven Technologies will migrate 3,500 existing GraceKennedy in-force policies to Haven Technologies’ policy admin system. To support these products, Haven Technologies will leverage its Advisor New Business, Underwriting, Policy Admin, Front-End Advocate, Claims and Migrator solutions.
Once Phase 1 work is completed, the partnership will turn to focus on the implementation of GraceKennedy’s Creditor Life products in additional countries and the implementation of new products.
“From our earliest days as a direct-to-consumer life insurance agency and as the platform powering MassMutual’s core advisor-driven life insurance business, our focus has been on making life insurance more available and accessible. This mission has been our guiding light in terms of what and how we’ve built our tech,” said Todd Rodgers, Interim Co-CEO and CTO at Haven Technologies. “Our partnership with GraceKennedy is an extension of that mission, especially in light of their commitment to bringing world-class financial services to their region. Our shared purposes also underscore a shared commitment to service–us to our clients and GraceKennedy to its customers–and we’re excited to start delivering on this belief.”
In selecting a partner to work with, GraceKennedy considered a number of factors, including both technical and cultural alignment inputs. These inputs ranged from vendor technology, architecture and pricing models to ensuring the selected vendor would think of GraceKennedy’s clients as their own.
Don Wehby, Group CEO of GraceKennedy, commented, “Our engagement with Haven Technologies is aligned with GraceKennedy’s 2030 Vision, which will see us expanding our services via world-class digital solutions. Digital transformation is a key strategic growth and performance driver for GraceKennedy, and the development of GraceKennedy Financial Group’s digital capabilities and offerings to meet the ever-evolving needs of our customers represents an important investment for us.”
Steven Whittingham, Deputy CEO of GraceKennedy Financial Group, explained, “What stood out for us from a technical point of view was that Haven’s platform is cloud-native, end-to-end and built from the ground up. Having cutting-edge technology was a baseline expectation of any insurtech we selected. We really prioritized finding a long-term partner that could collaborate and stay with us through integration and implementation. It was clear from our conversations with Haven Technologies that they filled that need, and we have already hit the ground running.”
In the spirit of such collaboration, Haven Technologies welcomed senior leaders from GraceKennedy to its New York City office earlier this year. Through a series of working sessions and team building events–including The Great GraceKennedy Cookoff–the teams built personal connections and unlocked cross-organization engagement, two essential components of a successful partnership.
For more information about Haven Technologies and the company’s approach to client partnerships, visit haventech.us.
About Haven Technologies
Haven Technologies is a cloud-based, quote-to-claim insurtech platform that is purpose built for life, disability and annuity insurers. We’re taking the same platform and expertise that helped us delight customers, transform complex, advisor-driven businesses, and launch groundbreaking products with speed and offering them as a SaaS offering. Insurance carriers can use our advanced solutions for new business, in-force management and product development.
But Haven Technologies is not just about technology. Our “secret sauce” is our people. Or, more specifically, our culture. We believe magic happens when a diverse group—both professionally and personally—have an opportunity to collaborate with each other to build things that matter. Visit haventech.us to learn more.
About GraceKennedy and the GraceKennedy Financial Group
GraceKennedy (GK) is one of the largest and most dynamic corporate entities in Jamaica and the Caribbean. For over a century, GK has expanded and diversified into a formidable network of subsidiaries and associated companies which operate in the areas of food trading and financial services. GK’s operations span Jamaica, the Caribbean, North and Central America, the United Kingdom, and several European countries.
The GraceKennedy Financial Group (GKFG) is the financial arm of GraceKennedy and includes its Insurance segment: Allied Insurance Brokers, GK General Insurance, GK Insurance Brokers, Key Insurance and GK Life Insurance; Banking & Investment segment: GK Capital Management, GK Investments, SigniaGlobe Financial Group (Barbados) and First Global Bank; and Money Services segment: GraceKennedy Remittance Services, GraceKennedy Money Services, GraceKennedy Currency Trading (FX Trader) and GraceKennedy Payment Services (Bill Express). GKFG operates in 16 markets across the Caribbean region.