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Overview
Afficiency builds and distributes digital life insurance products for insurance carriers. Its technology stack enables a fully digitized end-to-end process—from underwriting to customer service—so consumers can buy life insurance online in under 10 minutes. Real-time underwriting uses machine learning and big data to speed decisions and lower costs. Unlike traditional methods, Afficiency targets both traditional and digital-first carriers and provides ready-made, affordable products and a seamless digital experience by combining industry expertise with advanced digital solutions. The company’s goal is to modernize life insurance offerings, helping carriers streamline operations, reduce acquisition and maintenance costs, and deliver quick, accessible insurance to consumers.
About Afficiency
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Financial Services
Company Size
11-50
Company Stage
Series A
Total Funding
$10.2M
Headquarters
New York City, New York
Founded
2017
Simplify's Take
What believers are saying
- Series A raised $7M in March 2022, led by IA Capital Group, totaling $10.2M.
- Achieved 1000% YoY revenue growth, driving millions in monthly gross written premium.
- IncomeSense partnership with Western & Southern embeds protection in California mortgages.
What critics are saying
- SEC rules force algorithmic underwriting redesigns and bias audits by 2026.
- Western & Southern integrates in-house platforms, cutting Afficiency's revenue in 2026.
- Stripe and PayPal capture distributors with payment-integrated life insurance in 2026.
What makes Afficiency unique
- Afficiency delivers 100% digital end-to-end life insurance via APIs for instant underwriting.
- Proprietary machine learning enables real-time decisions without medical exams.
- White-label platform supports term, whole life, and final expense products like NewBridge.
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Funding
Total Funding
$10.2M
Below
Industry Average
Funded Over
2 Rounds
Industry standards
Growth & Insights and Company News
6 month growth
↓ -3%1 year growth
↑ 0%2 year growth
↑ 3%Life insurance distribution platform . Afficiency <i class="fa fa-info-circle company-popover" data-content="h3Afficiency/h3. div
Life insurance distribution platform Afficiency and Cincinnati-based insurance conglomerate Western & Southern Financial Group are introducing a new product in partnership with Bubble Insurance . The collaboration allows Bubble to embed IncomeSense, an income protection life insurance product developed by Afficiency and Western & Southern, alongside or after the home and mortgage purchase process. IncomeSense on Bubble is available to California borrowers with plans to expand to additional states in the near future
Versant Health — a Baltimore-based vision plan company owned by Metlife — has named Rachel Pokay assistant vice president of brand activation and market enablement and Hayley Ellington-Buckles chief compliance and privacy officer.
Afficiency, an InsurTech transforming the end-to-end life insurance buying process, recently announced it secured $7 million in a Series A investment round led by IA Capital Group with participation from Impression Ventures, SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) and Western & Southern Financial Group.
Afficiency, a NYC-based insurtech company focused on innovating the end-to-end life insurance buying process, raised $7M in Series A funding. The round, which brings the total raised to $10.2M, was led by IA Capital Group with participation from Impression Ventures, SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) and Western Southern Life. In conjunction [] The post Afficiency Raises $7M in Series A Funding appeared first on FinSMEs.
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About Afficiency
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Financial Services
Company Size
11-50
Company Stage
Series A
Total Funding
$10.2M
Headquarters
New York City, New York
Founded
2017
There are no jobs for Afficiency right now.
Find jobs on Simplify and start your career today