Afficiency

Afficiency provides a platform for the digital distribution of life insurance via proprietary APIs for agents, distributors, and carriers. The company’s product portfolio covers categories such as term life, whole life, and universal life insurance and enables carriers to issue policies that do not require a medical test. The company’s platform also allows insurers to obtain real-time analytics on their customers, which can in turn help offer personalized experiences to end users. It  is used by insurance startups such as Sprout and Pandella. As of April 2022, the company reported to have experienced a 10x year-over-year growth.

Funding and financials

In April 2022, the company raised USD 7 million in Series A funding led by IA Capital Group. The company aimed to use the funds to support growth as well as to expand partnerships, widen its product portfolio, and grow its team.