Afficiency logo — Life insurance products that are easy to understand, easier...

Afficiency

Life insurance products that are easy to understand, easier to purchase, all delivered in your native environment.

Founded 2017 United States New York, United States 40 employees Series A Total: $10.15M Financial Services, Fintech +2

General Information

Company Name Afficiency
Founded Year 2017
Location United States New York, United States
Employees 40
Industries Financial Services, Fintech, IT +1
Funding Stage Series A
Social

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About Afficiency

Afficiency: Transforming the Life Insurance Experience

Afficiency is a pioneering player in the life insurance space, offering products that are not only easy to understand and purchase but are also seamlessly delivered through digital platforms. Founded in 2018 and based in the United States, Afficiency has received a significant boost with a recent $7.00M Series A investment from esteemed investors including IA Capital Group, Impression Ventures, SBLI, and Western & Southern Financial Group in April 2022.

Afficiency's value proposition lies in its comprehensive digital platform that simplifies the entire life insurance process, from quoting to policy issuance, catering to digital distributors via APIs. The company's tailored approach addresses the complexities faced by distributors in offering life insurance products, providing a gateway for quick integration and access to innovative digital solutions. Notably, Afficiency's proprietary ApprovedAPI offers valuable insights for distribution partners to optimize conversion funnels and enhance approval rates.

Furthermore, Afficiency extends its digital prowess to carriers, offering a streamlined platform for quote-to-policy development and leveraging reinsurance relationships to expedite new product launches. Its rapid development cycle, taking less than six months and minimal resources, is an attractive proposition for carriers seeking to bolster their digital offerings.

Afficiency's forward-thinking ethos is emphasized by its invitation to innovators, inviting passionate individuals to join its team. Dubbed as innovators, problem solvers, and masters of various facets within life insurance, the company is actively seeking talented team members to help shape the future of the industry.

With its innovative digital approach, robust industry partnerships, and investor backing, Afficiency is well-poised to revolutionize the life insurance landscape and cater to the evolving demands of consumers and industry stakeholders.

Business keywords: Digital insurance platform, API integration, Life insurance, Reinsurance partnerships, Underwriting technology, Data-driven underwriting, Digital distribution, Product development, Risk management, Insurance technology, Insurance innovation, Insurtech startup, Digital underwriting, Insurance distribution

Funding Rounds & Investors (2)

View All
Funding Stage Amount Investors Lead Investors Date
Series A $7.00M 4
IA Capital Group, Impression Ventures +2
05 Apr 2022
Seed Round $3.15M 1
Impression Ventures
10 Feb 2020

Afficiency Alternatives & Competitors

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FAQ About Afficiency

Life insurance products that are easy to understand, easier to purchase, all delivered in your native environment.
Afficiency was founded in 2017.
Afficiency is headquartered in New York, United States.
Afficiency operates in Financial Services, Fintech, IT and Information Technology. Its work centres on Digital insurance platform, API integration, Life insurance and Reinsurance partnerships.
Afficiency has approximately 40 employees.
Afficiency has completed 2 funding rounds, raising a total of $10.15M. The latest funding stage is Series A.
Top alternatives and competitors to Afficiency include bolttech, KLIMBER, Rikor, InstaBrain, Inc, Emma. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Afficiency and bolttech are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Afficiency, https://bouncewatch.com/company/afficiency, updated 25 November 2024. When citing, please name BounceWatch and link this page.

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