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Afficiency
API-delivered life insurance products for digital distributors
- 21-100 employees
- Fintech
- B2B
- Insurance
- SaaS
- API
- Tribeca, New York, NY
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Company mission
Afficiency's mission is to provide sellers of life insurance more relevant products and an easier purchasing experience for their clients.
Our take
Afficiency is aiming to streamline the life insurance purchasing process by offering digital distributors a platform which allows them to quote, underwrite and deliver policies in minutes via API.
Considering that on average, it takes between three and six weeks to get life insurance, Afficiency is clearly on to something with its platform. The fact that its solutions are delivered via API is also key, as it allows sellers to continue operating on their own native stacks.
The nearly $4 billion insurtech market is extremely competitive, but the background of Afficiency’s leadership team offers encouragement. CEO Mark Scafaro was previously at MetLife, while he and fellow Co-founder Ravi Arasan have over three decades combined experience from American Express.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Competitive package with benefits and equity
- Flexible vacation and working from home (continuing post-pandemic)
- Work at a supportive and fast-growing start-up with a fantastic team
- Opportunity to make an impact in the lives of tens of millions of consumers
- Environment to learn from other team members, grow a business from the ground up and quickly assume additional responsibility
- Support in developing your skills and accelerating your career quickly
- Regular team get-togethers in awesome locations
Company values
- Honesty: We are unfailingly open in all of our interactions.
- Courage: We face any challenge with confidence and resolution.
- Passion: We are motivated simply by an internal desire to succeed.
- Curiosity: We are constantly looking for opportunities to learn and grow.
Funding (2 rounds)
Apr 2022
$7m
SERIES A
Mar 2020
$3.2m
SEED
Total funding: $10.2m
Leadership
Mark Scafaro
(Co-founder & CEO)Was MetLife's Head of Customer Acquisition & Servicing for three years prior to Afficiency, following 11 years at American Express, which culminated in a spell as Vice President of Operations.
Ravi Arasan
(Co-founder)Has been at American Express since 1999, operating in a range of senior and executive positions. Is currently VP, Head of Global Big Data Development. Founded strategy consulting & software company BDIPlus in 2016 and serves as President.