U.S. life carriers and distributors recognize the need for digital transformation. However, our industry is plagued with outdated systems and process, making the road to digital transformation long and difficult. At Afficiency, our goal is to deliver innovative life insurance products 100% digitally, throughout the entire customer journey from quote to policy issue to administration.
As consumers recognize the need for life insurance, we understand they have an expectation that life insurance should be easy-to-understand and easy to purchase. To this new breed of consumers that means being available via a streamlined digital platform. Afficiency is the 100% digital, end-to-end life insurance solution, designed to engage customers and offer products in either a self-service or agent assist manner.
Afficiency develops and accelerates product innovation - bridging the technology gap in a fraction of the time it traditionally takes a product to come to market. Making innovative life insurance products accessible to millions of U.S. consumers.
Utilizing our proprietary digital underwriting technology, we make it possible and easier for insurers and distributors to offer a suite of products in an easy-to-use, secure, and streamlined digital environment.
Afficiency builds flexible life insurance products available via agent assist, direct to consumer and worksite models; all delivered via API. Our products are designed to be easy to understand and even easier to purchase.
Afficiency was born in 2017 and is led by co-founders Mark Scafaro, CEO and Ravi Arasan, CIO. Mark and Ravi spent many years in financial services...
Afficiency builds flexible life insurance products available via agent assist, direct to consumer and worksite models; all delivered via API. Our products are designed to be easy to understand and even easier to purchase.
Afficiency was born in 2017 and is led by co-founders Mark Scafaro, CEO and Ravi Arasan, CIO. Mark and Ravi spent many years in financial services before parting ways - Ravi launched his own technology startup, while Mark went on to help create MetLife's US direct to consumer life insurance business
Our mission is to reinvent life insurance and the life insurance buying process. Utilizing a 100% digital customer journey, Afficiency has developed innovative life insurance products from the ground up - designed to be digital first.
According to LIMRA1 more than half of Americans overestimate the cost of life insurance coverage by as much as threefold
One in three assume that the group life insurance coverage they receive via their employee benefits is enough, yet it rarely is nor is it portable
Nearly half of Americans have delayed purchasing life insurance because they perceive that the process is too intimidating or is difficult to understand
Many younger consumers mistakenly believe that life insurance is something for older people and not for them
There’s a lot to consider when you’re buying life insurance, not to mention the hassle of getting a medical exam, which most policies require. If you’re looking for a simpler, quicker alternative,...
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Read MoreWhen it comes to life insurance, there has long been a protection gap in the U.S., the number of consumers with adequate life insurance is overshadowed by the number of consumers with no life insurance or not enough to meet the financial needs of the family members they would leave behind.
LIMRA2 presents another compelling way to demonstrate the degree of unmet need for life insurance, comparing the difference between those who say they “need” life insurance and those who say they “have” life insurance. Over the last decade the gap between those that say they need life insurance and those that have life insurance has more than doubled.
Life Insurance Need-Gap 2021 - 2022