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Insurance · head to head

Haven Life vs Riskonnect

Haven Life logo

Haven Life

Insurance

Life insurance by New York Life

From
Free
Rated
-
Full reviewWebsite
Riskonnect logo

Riskonnect

Insurance

Integrated risk management and claims administration for corporate risk teams

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only Haven Life has a free tier, so it costs nothing to try first.
  • Each has a real cost: Haven Life stopped accepting new applications on 12 January 2024. MassMutual wound the business down, citing low consumer adoption and high customer acquisition costs; Riskonnect total first year cost is dominated by implementation rather than licence; vendor professional services frequently approach the annual licence figure and the internal staff time to define data structures and migrate historic claims is a comparable third cost that never appears in the quote.
  • They diverge on capability: Haven Life covers Instant quotes, Riskonnect covers Claims administration.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Haven Life and Riskonnect actually diverge.

Attributes where Haven Life and Riskonnect differ
AttributeHaven LifeRiskonnect
Starting priceFreeOn request
Pricing modelfreemiumquote
Free tierYesNo
Founded2016Unknown

Identical on both: platforms (Web, Ios, Android), user rating (Not yet rated), category (Insurance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Haven Life

  • Instant quotes
  • No medical exam
  • Fast underwriting
  • Multiple term options
  • Online application
  • Digital policy delivery
  • Policy management portal
  • 24/7 accessibility

Only in Riskonnect

  • Claims administration
  • Total cost of risk reporting
  • Policy and exposure management
  • Enterprise risk management
  • Health and safety
  • Business continuity
  • Third party risk
  • Data integration

What people use each for

The jobs each tool is most often brought in to do.

Haven Life

  • Life insurance shoppingnot Riskonnect
  • Family protectionnot Riskonnect
  • Quick policy purchasenot Riskonnect
  • Financial securitynot Riskonnect

Riskonnect

  • A self insured employer that wants to own its workers compensation loss data rather than depend on the broker or TPA system it will lose at renewalnot Haven Life
  • A risk manager building a defensible total cost of risk figure for the CFO across claims, premium, retained losses and collateralnot Haven Life
  • A third party administrator running claims for multiple clients that needs separate entity structures on one platformnot Haven Life
  • A multinational consolidating claims, safety incidents and enterprise risk registers onto one entity hierarchy for board reportingnot Haven Life

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Haven Life

  • Stopped accepting new applications on 12 January 2024. MassMutual wound the business down, citing low consumer adoption and high customer acquisition costs
  • havenlife.com now redirects to massmutual.com
  • Existing policies remain valid and are administered by MassMutual, but the product cannot be bought

Riskonnect

  • Total first year cost is dominated by implementation rather than licence; vendor professional services frequently approach the annual licence figure and the internal staff time to define data structures and migrate historic claims is a comparable third cost that never appears in the quote.
  • The platform grew through acquisitions including Ventiv and Sword GRC, so module interfaces and administration models are not uniform and staff trained on one module do not transfer cleanly to another.
  • Licensing is modular, so the price quoted for a claims deployment rises materially the first time the risk team wants ERM or business continuity, and there is little negotiating leverage once the claims data is migrated.
  • Configuration depth means most changes go through an administrator or the vendor rather than an end user, and risk teams without a dedicated system administrator find that change requests queue for weeks.
  • Historic claims data migration quality depends entirely on what the outgoing broker or TPA will export, and incomplete legacy data undermines the multi year trend reporting that was the reason for buying.

Pricing, plan by plan

Haven Life

Free
  • Quote ToolFree
    • Instant quotes
    • No medical exam
    • Coverage customization
  • Term Life Insurance$undefined/month
    • 10, 20, or 30-year terms
    • Fast underwriting
    • Guaranteed rates

Riskonnect

On request
  • Riskonnect Platform$undefined/year
    • Licensed by module, named user count and entity structure
    • Claims administration and RMIS core
    • Optional ERM, safety, continuity and third party risk modules

Which should you pick?

Choose Haven Life if

  • You need instant quotes.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want no medical exam.
Haven Life review

Choose Riskonnect if

  • You need claims administration.
  • You work on Web, iOS, Android.
  • You also want total cost of risk reporting.
Riskonnect review

Questions people ask

Is Haven Life or Riskonnect better?
Neither clearly leads. Haven Life starts at Free and Riskonnect at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Haven Life or Riskonnect?
Haven Life has a free tier; the other does not. Paid plans start at Free for Haven Life and On request for Riskonnect.
Does Haven Life or Riskonnect run on more platforms?
Haven Life runs on Web, Ios, Android. Riskonnect runs on Web, iOS, Android.
Can I use Haven Life for free?
Yes. Haven Life has a free tier, so you can try it without paying. Riskonnect starts at On request.
What is Haven Life best used for?
Haven Life is most often used for life insurance shopping, family protection, quick policy purchase, financial security. Of those, life insurance shopping and family protection are not what Riskonnect is typically brought in for.
What can Haven Life do that Riskonnect cannot?
Haven Life covers Instant quotes, No medical exam, Fast underwriting, Multiple term options. Riskonnect covers Claims administration, Total cost of risk reporting, Policy and exposure management, Enterprise risk management.

Answered from the vendors’ own pages

Riskonnect: What does Riskonnect actually cost?

Nothing is published. Reported deals range from roughly 35,000 US dollars a year for a narrow deployment to well over 250,000 for a multi module enterprise programme, with implementation services quoted separately and often of similar magnitude in year one.

Riskonnect: How long does implementation take?

Three to six months is typical for a claims and RMIS deployment, longer where historic loss data from several brokers or TPAs has to be normalised.

Riskonnect: Why not just use the broker supplied RMIS?

Because you lose it when you change broker, and the data model serves the broker reporting rather than yours. Owning the system is the main reason companies pay for one.

Riskonnect: Is it a GRC platform or a claims system?

Both, but the claims and insurable risk core is the mature part. If you want pure GRC without claims, you are buying more platform than you need.

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