Even Staff


Keys to Compliance: Maintaining a Broad Set of Licenses

At Even, it is fundamental to our business to take a proactive approach to compliance. It’s one thing for a company to say it’s committed to upholding the laws and regulations of its industry, it’s another to actually see that commitment through, as it requires a dedicated, well-researched plan of attack when it comes to compliance standards and practices.

For a company like Even in particular, we have an obligation to multiple parties beyond just Even itself, from a compliance point of view. This includes our broad network of channel partners who embed our technology and, in turn, the consumers that access the Even API via these channels.

Licensed to Thrive

One aspect of compliance where commitment is especially crucial is licensing. Any company providing some type of financial service, whether directly or as a lead broker, must comply with applicable licensing requirements at the state level. In the case of a fintech company like Even, licenses ensure that we are providing services in a safe, responsible manner, and that consumers are protected from predatory or other illegal business practices.

As the definitive search, comparison, and recommendation engine for financial services, Even does not take its licensing requirements lightly. Obtaining and maintaining proper licenses requires diligent work, as they encompass a broad set of financial services and vary from state to state. For example, one state’s licensing requirements may depend on the amount of the loan, while another’s may hinge on compensation models.

Along with our network of financial institutions, we collectively shoulder the responsibility to create a truly turnkey experience for our channel partners from a compliance perspective, no matter what kind of integration they utilize to access the Even platform. In the licensing landscape for financial services, Even essentially acts as the middleman between the providers in our network and consumers seeking a financial service through one of our channel partners.

Say CNBC wants to build their own personal loans marketplace on their website. It would require several individual relationships with lenders to ensure their products are being marketed with proper licenses in place. With Even, however, we shoulder all of the licensing requirements for our large network of channel partners, like CNBC, as we are the connection to the lenders and have those relationships already in place. In turn, our channel partners facilitate high-tech marketing to integrate our services, which allows us to assist our regulated lending partners and their borrowers in loan transactions.

The Even Umbrella

Achieving these goals — to construct what we refer to as the “Even licensing umbrella of coverage” — requires planning, action, and communication.

Planning necessitates an ongoing survey of all 50 states, to better understand their compliance standards, lending laws, and which licenses are required based on Even’s business model. For instance, all 50 states require licenses to broker mortgage and insurance products, while consumer lending products, like personal loans, have different enforcements in each state. Therefore, a certain state license for consumer lending may not be required based on your company’s business model.

After assessing the landscape, we then take action by working diligently to obtain and maintain licenses, which requires constant attention to ensure we stay on track of evolving laws and regulations, and in anticipation of renewals.

Finally, clear communication, both internally and externally, is key to a successful and smooth licensing program. We employ a team that understands each state and its requirements, as licensed entities are subject to annual audits by state regulators who examine everything from your services and products, to your advertising and disclosures, to your financial records, and beyond.

To date, Even has secured 110 licenses across our personal loan, mortgage, and insurance product verticals. The extent of our work and number of licenses we have secured are unparalleled in the financial services industry for a business of our nature.

At Even, compliance isn’t just a talking point, it’s a company mission fostered on dedication, accuracy, and teamwork. Our commitment to licensing reflects that, creating an umbrella of coverage that our partners can depend on.

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Disclaimer: The material provided on this site is not intended to provide legal, investment, or financial advice or to indicate the suitability of any Even Financial product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional. Any information or statistical data sourced by Even Financial through hyperlinks, from third-party websites, are provided for informational purposes only. While Even Financial finds these sources to be accurate, it does not endorse or guarantee any third-party content



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Haven Life’s All-Digital Life Insurance Application Experience Launches on Even Financial’s Leading Life Insurance Search Engine
Even features the industry’s largest multi-carrier, all-digital life insurance marketplace
New York, New York – August 16, 2021 – Even Financial (“Even”), the leading search, comparison, and recommendation engine for financial services, has announced the launch of Haven Term and Haven Simple on its life insurance marketplace platform. Leveraging machine learning and advanced data science, Even solves a significant pain point in financial services customer acquisition by seamlessly bridging financial institutions and channel partners via its industry-leading API and embeddable solutions.   With the addition of Haven Term and Haven Simple, Even has further expanded its extensive network of premium life insurance offerings, strengthening its position as the industry’s largest multi-carrier, all-digital life insurance marketplace. Haven Life, which offers Haven Term and Haven Simple, and is backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is known for its customer-centric approach and for its commitment to making life insurance more affordable and accessible. Haven Life’s term life insurance offerings will be available on Even properties and via its wholly owned subsidiary LeapLife.   “In these uncertain times, the majority of U.S. adults want the financial security of high-quality life insurance, but are often dissuaded by the complex application process and need to complete an in-person medical exam,” said Phill Rosen, Founder and CEO of Even Financial. “Haven Life’s groundbreaking, all-digital application experience brings tremendous accessibility and peace-of-mind to consumers. We’re thrilled to welcome them to the Even platform.”   The launch of Haven Term and Haven Simple on the Even platform enables consumers to get matched with medically underwritten term life insurance policies that they can apply for and, if approved, purchase instantly online. While most Haven Term applicants will need to take a medical exam, Haven Simple applicants do not. Haven Life’s offerings expand the variety of life insurance options already available to consumers through Even’s API.   “Haven Life is committed to meeting life insurance customers wherever they are — and often, it's where they are managing the rest of their financial life," said Wade Seward, Head of Distribution Strategy at Haven Life. "On the heels of introducing even more affordable pricing for the Haven Term product, our partnership with Even Financial allows us to marry that affordability with greater accessibility to offer comprehensive financial protection to shared clients with ease and efficiency.”    Even entered the life insurance industry in 2020 through its acquisition of LeapLife, a leading insurtech and licenced life insurance agency. Since that acquisition, Even has worked with its large network of channel partners to make the process of getting personalized life insurance fast, easy, and accessible for consumers. In addition to Haven Term and Haven Simple, products offered by leading insurance companies including Lincoln Financial Group, Pacific Life, and Mutual of Omaha are available through LeapLife, Even’s life insurance platform. Companies such as TransUnion and Lantern by SoFi rely on Even’s embedded finance marketplaces to power 100% digital personalized life insurance policy quotes for their customers, with live agent support.   Even has continued its rapid growth trajectory in 2021 by reaching over $3 billion in consumer credit issued through its API and expanding its platform to over 800 partners. Earlier this year, Even was named one of “America’s Best Startup Employers'' by Forbes for 2021 and placed in the Top 50 of the 2020 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world.   About Even Financial   Founded in 2014, Even Financial is a B2B fintech company that is transforming the way financial institutions find and connect with consumers. As the leading search, comparison, and recommendation engine for financial services, Even seamlessly bridges financial institutions (such as SoFi) and channel partners (such as TransUnion) via its simple yet robust API and embeddable solutions. Even turns any consumer touchpoint into a comprehensive financial services marketplace with full compliance and security at scale. The company is backed by leading financial services firms and VCs, including American Express Ventures, Canaan Partners, Citi Ventures, Fidelity’s F-Prime Capital, Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures. Learn more at   About Haven Life Insurance Agency   Haven Life Insurance Agency, LLC (Haven Life) is re-thinking how people financially protect the ones they love. Haven Life is committed to delivering exceptional products, delightful purchasing experiences, and meaningful moments of service to the modern life insurance customer.

Haven Term is a Term Life Insurance Policy (ICC21 Haven Term in certain states, including NC) issued by C.M. Life Insurance Company (C.M. Life), Enfield, CT 06082. In New York (DTC-NY), and California (DTC-CA), and other states, it is issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.    Policy and rider form numbers and features may vary by state and may not be available in all states. Haven Term is available through Haven Life Insurance Agency, LLC (Haven Life), whose agency license number in California is OK71922 and in Arkansas, 100139527. Both Haven Life and C.M. Life are wholly owned subsidiaries of MassMutual.   Please note that issuing the policy or paying its benefits depends on the applicant’s insurability, based on their answers to the health questions in the application, and their truthfulness.   MassMutual and its subsidiaries C.M. Life Insurance Company and MML Bay State Life Insurance Company are rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of June 1, 2021 and is subject to change. MassMutual has received different ratings from other rating agencies.   Media Contact    
Yahoo! Finance: Even Financial Reaches $3 Billion In Credit Issued Milestone
Even has surpassed a significant threshold in credit issued, having now facilitated over $3 billion in consumer credit as of July 2021. The milestone is significant in the financial services industry, as Even has also expanded its platform to over 800 partners.    Click below to read more at Yahoo! Finance.
PYMNTS: Even Launches Embedded Finance App on Salesforce
Now, financial advisors and other businesses will have a way to leverage Even’s platform for their clients. ‘Financial Products for Salesforce’ - Powered by Even, a plug-and-play app available on the Salesforce AppExchange, matches consumers with real-time, personalized financial product offers.   Click below to read more at