Haven Technologies shrinks workforce

Haven Technologies, the insurance SaaS provider owned by MassMutual, has conducted a round of layoffs that impacted approximately 70% of its workforce, about 280 employees.

We reached out to MassMutual and received the following statement from a spokesperson: “Like many organizations in the technology industry, we recently undertook a reorganization effort to ensure Haven Technologies is best positioned to create the flexible and customer-centric technologies that will enable our clients to help expand access to insurance.”

These layoffs did not impact Haven Life’s insurance business, which sells life insurance to consumers.

Haven Technologies was introduced in 2021 in the US. The company’s  software solutions and services are designed for insurance carriers to underwrite, service, and administer policies. So far, the company announced one partner, the GraceKennedy Financial Group, which operates insurance subsidiaries in Jamaica and the Eastern Caribbean.