The document discusses the evolution of Haven Life's customer targeting strategies from 2015-2019. It began with persona-based marketing with limited data and channels. From 2017-2018, it used its first 100 sales to build lookalike audiences, but targeting was poorly calibrated. Its current strategy from 2018-2019 uses over 200 customer attributes and underwriting decisions in a 1:1 personalized model with a real-time feedback loop, resulting in 57.2% lower customer acquisition costs and 44% better applicant quality. The document also outlines Haven Life's direct-to-consumer story and provides details about its marketing stack and future plans to improve location-based and connected TV targeting.

1. The 168-year old DTC startup

2. Our parent company: MassMutual
● 168-year-old company
● #84 in the Fortune 500
● $39.2BN in 2018 Revenue
● Over 5,000,000 customers
● Over $744,000,000,000 of insurance coverage “in-force”
● Network of 7,000+ Financial Advisers
● A++ A.M. Best rating for financial strength and claims-
paying ability.

3. Our industry is in flux
● Life insurance ownership is at record low levels
● Agent sales forces are retiring at record numbers
● Seismic shifts in consumer purchase behaviors
towards DTC

4. An industry in flux
● Life insurance ownership is at record low levels
● Agent sales forces are retiring at record numbers
● Seismic shifts in consumer purchase behaviors
towards DTC
Enter Haven Life….

5. Our story is about a father, his family,
and their future
When Haven Life’s co-founder Yaron Ben-Zvi and his wife were expecting their first
child, they decided that to help protect their growing family’s financial future, they
needed to buy life insurance. Easier said than done.
After going through the traditional application process and waiting weeks (yes, plural) to
receive a decision on eligibility, Yaron felt compelled to build a better experience for
today’s insurance shoppers and their loved ones. An experience that was actually
simple.

7. What is Haven Life?
MassMutual’s in-house start-up focused on selling life insurance in an online, agentless
direct-to-consumer environment
● Simple to understand, DTC term life insurance product
● Founded in 2015
● Launched in 2016
● Available nationally in 2017
● 200+ employees
● Nearly $9,000,000,000 in coverage in force
● New products coming in Q4

8. But no one’s ever done this before...
Haven Life was the first to launch a 100% online direct-to-consumer
purchase experience for buying term life insurance
How do you launch a purchase experience no one has ever done
before?

9. We started with a big media blitz

10. But that didn’t pan out

11. So we needed a pivot

12. So we needed a pivotSo we needed a pivot
But more importantly, we evolved our targeting

13. Our targeting evolution
2015 - 2016
Persona Based Marketing
● Life Stage Based
● Limited Channels
● No data to work with
● Spray & Pray

14. Our targeting evolution
2015 - 2016
Persona Based Marketing
● Life Stage Based
● Limited Channels
● No data to work with
● Spray & Pray
2017 - 2018
Black Box Lookalikes
● Used our first 100 sales
● Built platform based LALs
● Pixel based model changes
● Targeted but poorly calibrated

15. Our targeting evolution
2015 - 2016
Persona Based Marketing
● Life Stage Based
● Limited Channels
● No data to work with
● Spray & Pray
2017 - 2018
Black Box Lookalikes
● Used our first 100 sales
● Built platform based LALs
● Pixel based model changes
● Targeted but poorly calibrated
2018 - 2019
1:1 Person Based Marketing
● 200+ Model Attributes
● Utilizes Underwriting
Decisions
● Real-time feedback loop to
ad partners
● Correctly targeted

16. Our targeting evolution
2015 - 2016
Persona Based Marketing
● Life Stage Based
● Limited Channels
● No data to work with
● Spray & Pray
2017 - 2018
Black Box Lookalikes
● Used our first 100 sales
● Built platform based LALs
● Pixel based model changes
● Targeted but poorly calibrated
47.5% LOWER CAC
2018 - 2019
1:1 Person Based Marketing
● 200+ Model Attributes
● Utilizes Underwriting
Decisions
● Real-time feedback loop to
ad partners
● Correctly targeted

17. Our targeting evolution
2015 - 2016
Persona Based Marketing
● Life Stage Based
● Limited Channels
● No data to work with
● Spray & Pray
2017 - 2018
Black Box Lookalikes
● Used our first 100 sales
● Built platform based LALs
● Pixel based model changes
● Targeted but poorly calibrated
47.5% LOWER CAC
2018 - 2019
1:1 Person Based Marketing
● 200+ Model Attributes
● Utilizes Underwriting
Decisions
● Real-time feedback loop to
ad partners
● Correctly targeted
57.2% LOWER CAC

18. Moving to 1:1 marketing resulted in...
● 78% improvement in customer acquisition
costs
● 44% improvement in applicant quality
(likelihood to purchase)

19. How our model works
● Define customer segment (i.e. lowest risk)
● Append 400+ data attributes to each customer record
● Select attributes w/ largest deviation from the general population
● Stack rank prospecting set using those attribute model scores
● Activate audience across platforms
● Champion vs. Challenger mentality

20. Our marketing stack
Acxiom
Live Ramp
Epsilon
Segment.io
Trade Desk
Simulmedia
Amazon Facebook
Google
IndicativeAttribution App
Data:
DMP:
Activation:
Analytics:

21. Future state
Looking to the future, we’re piloting a couple new ways to improve our
models & targeting
● Location data -- understanding trends in where our customers are
moving relative to the general population. Learning where they shop,
where they travel, etc.
● CTV Lookalikes -- using IP addresses to model TV lookalike
audiences. Pilot under way now.

22. Best practices
If you’re ever in New York, please stop by our offices on
Madison Square Park
● It starts with the correct seed audience
● Choose the right variables
● Religiously test new data sources
● Bring a champion vs challenger mentality
to your models

23. Thank you!