Afficiency accelerates growth, announces addition of new office in NYC

By Edlyn Cardoza

Afficiency, the InsurTech transforming the end-to-end life insurance buying process, recently announced it opened a new office in New York City to provide an in-person location for its growing team.

The office at 101 Greenwich Street serves as an open and collaborative environment with the space to enable Afficiency to scale its current team by 230% over the next few years. This office is an addition to Afficiency’s existing headquarters at 3 World Center.

“We’re excited to open our new office during this era of hybrid work,” said Mark Scafaro, CEO and co-founder of Afficiency. “Our location on Greenwich Street will give the team the option to have a place to gather to collaborate and brainstorm innovative ideas that will transform the life insurance industry.”

The opening of the new office is part of an ongoing trend of more companies returning to the office either full or part-time via hybrid work. According to Morning Consult’s New Workers, New Normal 2022 report, two-thirds of current remote workers would feel comfortable returning to the office.

“On our path to disrupt the traditional life insurance space, we aim to hire the next generation of insurtech talent ready to break the mold and challenge the existing landscape, and we need to have the digital and physical spaces most constructive to their work style,” said Ravi Arasan, President and co-founder of Afficiency.

Afficiency is an InsurTech transforming the end-to-end life insurance buying process and accelerating the time it takes to get applicants approved and covered. With Afficiency’s digital life insurance platform, it’s never been easier to offer 100% digital in-session policy decisions.

Afficiency enables distributors and other trusted brands to white-label and distribute Afficiency’s life insurance products in a customisable way. With their proprietary API, they can bring their suite of products into their partners’ native environments. And for those starting from scratch, they can offer a customer journey. Afficiency works with its carrier and reinsurance partners to develop these products and has a growing product catalogue spanning categories such as term, whole life, disability, and universal life. All their products are digitally underwritten and issued to applicants within seconds. Afficiency has issued thousands of policies to date, closing the life insurance coverage gap, eliminating friction and protecting more lives.