Afficiency
About Afficiency
Afficiency provides a digital platform that delivers life insurance products through API integration, enabling seamless access for distributors and consumers. The company addresses the complexity and accessibility issues in the life insurance market by offering a fully digital, end-to-end purchasing experience without the need for medical exams.
```xml <problem> The life insurance industry faces challenges related to outdated systems, complex processes, and a significant "protection gap," where many individuals lack adequate coverage. Consumers often find life insurance difficult to understand and purchase, leading to underinsurance or a complete lack of coverage. </problem> <solution> Afficiency provides a digital platform designed to streamline and simplify the life insurance buying process, offering solutions for carriers, distributors, technology platforms, and consumers. The platform offers a 100% digital experience from quote to policy issuance and administration, leveraging APIs to integrate with existing systems and enable flexible product distribution. Afficiency's proprietary digital underwriting technology accelerates product innovation and makes life insurance products more accessible through agent-assisted, direct-to-consumer, and worksite models. By addressing common misperceptions about life insurance, such as overestimating costs and underestimating the need, Afficiency aims to bridge the life insurance protection gap. </solution> <features> - API-driven platform for seamless integration with existing systems - Digital underwriting technology for accelerated product innovation - Support for agent-assisted, direct-to-consumer, and worksite distribution models - Flexible life insurance products designed to be easy to understand and purchase - Risk and screening tools, including the Afficiency Life Prediction Score - 100% digital customer journey from quote to policy issuance - Streamlined digital environment with a secure and easy-to-use interface - Term life insurance products, including Assure Level Term and Retail Level Term </features> <target_audience> Afficiency targets life insurance carriers, distributors (including life insurance agencies, property & casualty agencies, and financial advisors), technology platforms, insurtech companies, and consumers seeking a simplified and accessible life insurance purchasing experience. </target_audience> ```
What does Afficiency do?
Afficiency provides a digital platform that delivers life insurance products through API integration, enabling seamless access for distributors and consumers. The company addresses the complexity and accessibility issues in the life insurance market by offering a fully digital, end-to-end purchasing experience without the need for medical exams.
Where is Afficiency located?
Afficiency is based in East New York, United States.
When was Afficiency founded?
Afficiency was founded in 2018.
How much funding has Afficiency raised?
Afficiency has raised 10150000.
- Location
- East New York, United States
- Founded
- 2018
- Funding
- 10150000
- Employees
- 37 employees
- Major Investors
- IA Capital Group