Asfalia
Asfalia SRL is an Italian insurance agency and the flagship distribution entity of Grifo Holding, distributing life, non-life, pension and investment products from over 50 carriers through nearly 500 Business Advisors, bancassurance partnerships and proprietary insurtech platforms.
- Company typePrivate
- Founded2003
- HeadquartersSaronno, Italy
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Asfalia does
Asfalia SRL is an Italian insurance agency headquartered in Milan (legal seat) with operational headquarters in Saronno, operating as the flagship distribution entity within Grifo Holding (founded by Bernardo Franchi in 2003). The company sells life, non-life, pension and investment insurance products under an open-architecture model that aggregates offerings from more than 50 insurance carriers, distributed through a multi-channel network combining a proprietary field force of nearly 500 Business Advisors across 21 Italian offices with institutional bancassurance partnerships with banks including Banca del Piemonte, Banca Popolare del Frusinate, Banca Popolare del Cassinate and Volksbank. Revenue is generated primarily through commissions on insurance premiums placed with partner carriers, augmented by brokerage fees from institutional clients and recurring financial advisory fees.
Asfalia operates as one entity within a broader Grifo Group ecosystem that includes Asfalia Prime Broker (independent broker for institutional and corporate clients), In Prime Agency (non-life), GrifoHealth (health and welfare), GrifoFinance (credit mediation), previdAge (pension consulting), Beside (retail broker), Quadratum (training) and the insurtech arm GrifoTech. The technology backbone is supplied by GrifoTech's DAFNE platform, a multi-insurer, multi-product bancassurance engine that enables policy subscription through home banking channels, and the GO (Grifo Online) open-insurance wallet mobile application launched in September 2022, the first app in Italy aggregating customer policies across multiple carriers. Asfalia is registered with IVASS under RUI number A000052375 and is subject to Italian insurance intermediary supervision.
The company's growth strategy is built on three reinforcing vectors: organic expansion of the Business Advisor network (with the Grifo Young program targeting generational succession), inorganic roll-up of regional agencies and life specialist teams (AR Intermediazioni in 2021, Tc Agency Insurance in 2024, Finanza e Previdenza announced in 2025), and platformization of the distribution model through proprietary technology. The group reported revenue of 34 million EUR in 2024, up 28% year-over-year, with life insurance assets under management exceeding 1 billion EUR and a customer base of more than 65,000. In November 2025, French investor Groupe Premium (backed by Blackstone and Eurazeo) acquired a strategic equity stake in Grifo Holding, designating the group as its exclusive Italian partner in a European expansion thesis.
Asfalia firmographics
Firmographics- Name
- Asfalia
- Legal name
- ASFALIA SRL
- Website
- https://asfalia.it
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Asfalia SRL is an Italian insurance agency and the flagship distribution entity of Grifo Holding, distributing life, non-life, pension and investment products from over 50 carriers through nearly 500 Business Advisors, bancassurance partnerships and proprietary insurtech platforms.
- Ownership category
- akta.pro rank
Asfalia industry classification
Industry- Product category
- Insurance Brokerage and Advisory
- NAICS
- Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421), Direct Life, Health, and Medical Insurance Carriers (52411), Other Insurance Related Activities (52429)
- SIC
- Insurance Agents, Brokers & Service (6411), Life Insurance (6311), Accident & Health Insurance (6321), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- International/Expatriate Individual Health Insurance (FSAIAEAH)
- akta.pro secondary industry
- Ancillary Benefits TPA (Dental/Vision/Life/Accident/Critical Illness) (HLAEALAN)
Keywords
Where Asfalia is headquartered
LocationHeadquarters
- HQ city
- Saronno
- HQ country
- Italy
- HQ region
- Europe
Offices6 records
Markets served
Asfalia business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure
Revenue model
- Insurance Distribution Commission: Commission revenue from distributing insurance products (vita, danni, previdenza) through proprietary network and institutional partnerships. Revenue derived from premiums placed with partner insurance companies.
- Brokerage Services: Independent broker services for institutional clients (banche, compagnie) providing access to wide range of insurance solutions and distribution support.
- Financial Advisory: Wealth management and financial planning services through Business Advisor network, providing investment and pension planning solutions.
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
Asfalia product offering
Product offeringCore offering
Asfalia is an Italian insurance agency that distributes life and non-life insurance and welfare products from more than 50 insurance carriers through a captive network of nearly 500 Business Advisors operating from 21 offices across Italy. Its core service combines open-architecture product comparison, advisory and consulting (including welfare and pension advisory), and proprietary digital platforms (DAFNE for advisor CRM and GO for mobile policy management) to deliver product placement and ongoing customer service to retail and small-business clients.
Product overview
Asfalia is the flagship insurance agency of Grifo Group, operating alongside its subsidiary Asfalia Prime Broker as the core insurance distribution businesses. Under the Grifo Group umbrella, the portfolio spans insurtech (GrifoTech with the DAFNE platform), Open Insurance (the GO app wallet), specialized agencies (In Prime Agency for non-life, GrifoHealth for health, Quadratum for services/training, Beside for retail, previdAge for pensions), and financial services (GrifoFinance for credit mediation). The group operates a unique multi-channel business model with two macro areas: direct channel and institutional channel (banks, insurers, intermediaries).
Differentiator
Problem solved
Functional benefit
Products and services
- Life and Non-Life Insurance Distribution
Quantifiable outcome
- Over 65,000 clients served
- +3 more outcomes
Companies that use Asfalia
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles1 record
Asfalia technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Asfalia partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and minor.
- Finanza e PrevidenzacoreAcquisition of Finanza e Previdenza business unit (founded 2010 in Imola) with 14 offices nationwide, managing over 300 million EUR in life assets and 6 million EUR in non-life, bringing 130 experienced consultants.
- Tc Agency Insurance (Gruppo Tecnocasa)coreAcquisition of life specialist business unit from Tc Agency Insurance, bringing 60 insurance consultants and expanding presence to new regions including Sardinia.
- Banca Popolare dell'Alto Adige (Volksbank)coreDistribution partnership for Allianz Active4Life unit-linked product with annual capital guarantee up to 93%, expanding group's reach in the Alto Adige region.
- Banca Popolare del CassinatecorePartnership for corporate and retail bancassurance distribution aligned with 'tutela sostanziale' concept, providing comprehensive insurance solutions for prevention, savings, investment and planning needs.
- Allianz Global LifecoreDistribution agreement for Allianz Target4Life and Allianz Active4Life innovative unit-linked products. Asfalia Prime Broker is the first independent non-bank distributor of these products in Italy, extending the group's offering in international investment solutions.
- ACER (Azienda Casa Emilia Romagna)minorWelfare agreement providing Allianz My Welfare platform for public employees, offering flexible benefits selection. Quadratum provides Qcare health services.
- Banca Popolare del FrusinatecoreBancassurance partnership strengthening institutional channel. Asfalia Prime Broker provides insurance solutions for private and corporate clients through multi-company, multi-product platform.
- Banca del PiemontecoreBancassurance partnership using the DAFNE platform for insurance product distribution. Asfalia Prime Broker enables bank customers to access wide range of life, property, health insurance and investment solutions.
- ANCP (Associazione Nazionale Consulenti Patrimoniali)minorGroup companies joined ANCP to promote consulting model focused on real needs of individuals, families, businesses and assets, aligned with group's core values.
- AR IntermediazionicoreAcquisition through Argenta of AR Intermediazioni, insurance agency in Piedmont and Liguria, bringing 16 experienced non-life professionals and offices in Cuneo and Imperia.
- Italian Insurtech Association (IIA)minorGrifoTech as founding member supporting insurance industry digital transformation and technological progress through InsurTech innovation.
- AON Benfield SpAcoreTechnology partnership for designing next-generation policies subscriptable through home banking. GrifoTech developed innovative IT platform enabling policy activation with credit card payment without paper signatures.
- WIN srlminorAsfalia Prime Broker entered as equity partner in WIN srl, a 10-year market operator providing innovative solutions for brokers and insurance companies with focus on SME coverage.
- Italiana AssicurazionicoreLong-standing strategic partnership for insurance and investment products including exclusive offerings like Eclettica (multi-branch life) and Multipiano (savings accumulation) products.
Scale indicators10 records
Recent moves14 records
Expansion highlights6 records
Asfalia competitors and assessment
Company assessmentBroad incumbents
- Sara Assicurazioni: Italian insurer closely tied to Automobile Club d'Italia, distributing motor and non-life products through a tied-agent network. Comparable as an incumbent multi-line Italian insurer using an agent-led distribution model.
- UnipolSai: Large Italian insurance group combining underwriting with a sizable agent/broker network across life and non-life. Comparable as a broad incumbent whose distribution model competes with Asfalia's Business Advisor network for the same Italian retail and SME customers.
- Allianz Italy: Major Italian insurer and bancassurance partner (Allianz Global Life / Active4Life) of Asfalia itself. Comparable as a broad incumbent offering life, non-life, and welfare products that flow through bancassurance and advisor channels.
- Reale Mutua: Italian mutual insurer with a substantial agent network distributing life and non-life products nationwide. Comparable as a traditional Italian incumbent competing for the same advisor-channel and retail customer base as Asfalia.
- Generali Italia: Italy's largest insurance carrier with a vast proprietary distribution network. Comparable as a broad incumbent in the same life and non-life insurance categories Asfalia distributes, though Generali underwrites risk rather than acting purely as an intermediary.
Emerging players
- Prima Assicurazioni: Italy-based digital-first insurance broker (motor and increasingly broader lines) using a direct-to-consumer model. Comparable as an emerging competitor pursuing a different distribution angle but addressing the same Italian retail insurance-customer pain points Asfalia addresses through its GO app and advisor network.
Direct peers
- Marsh (Italy): Global insurance broker operating in Italy across corporate risk, employee benefits, and specialty lines. Comparable to Asfalia's institutional brokerage, corporate client solutions, and employee-welfare offerings.
- Willis Towers Watson (Italy): Global advisory and brokerage firm with Italian operations covering risk, insurance brokerage, and human capital/benefits — comparable to Asfalia's bancassurance-style advisory services and corporate-welfare proposition.
- Howden (Italy): Independent global insurance broker with an Italian platform serving commercial and specialty risks. Comparable as a multi-line, multi-carrier broker targeting corporate and institutional clients in Italy.
- Aon (Italy): Global insurance and reinsurance broker with a substantial Italian presence providing multi-line corporate brokerage, risk management, and advisory services to institutional clients — directly comparable to Asfalia Prime Broker's institutional-brokerage activities and to Asfalia's open-architecture, multi-insurer distribution approach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Asfalia social profiles
Digital presenceAsfalia compliance and trust
Trust signalCompliance1 record
Asfalia financial estimates
Financial estimateRevenue estimate
Valuation estimate
Asfalia leadership team
Management profileNumber of profiles
Profiles6 records
Asfalia funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Asfalia M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Asfalia
What does Asfalia do?
Asfalia is an Italian insurance agency that distributes life and non-life insurance and welfare products from more than 50 insurance carriers through a captive network of nearly 500 Business Advisors operating from 21 offices across Italy. Its core service combines open-architecture product comparison, advisory and consulting (including welfare and pension advisory), and proprietary digital platforms (DAFNE for advisor CRM and GO for mobile policy management) to deliver product placement and ongoing customer service to retail and small-business clients.
Is Asfalia a public or private company?
Asfalia is a private company. It is classified as private equity controlled and is currently operating.
When was Asfalia founded?
Asfalia was founded in 2003. It employs 1 to 10 people.
Where is Asfalia based?
Asfalia is headquartered in Saronno, Italy, in the Europe region.
How does Asfalia make money?
Three revenue lines are on record. Insurance Distribution Commission is the primary driver. The others are brokerage Services and financial Advisory.
Who are Asfalia's main competitors?
Broad incumbents on record are Sara Assicurazioni, UnipolSai, Allianz Italy, Reale Mutua and Generali Italia. Prima Assicurazioni is listed as an emerging player. Direct peers are Marsh (Italy), Willis Towers Watson (Italy), Howden (Italy) and Aon (Italy).
Does Asfalia have an API?
No public API is recorded for Asfalia.
What industry is Asfalia in?
Asfalia's product category is Insurance Brokerage and Advisory. Its primary akta.pro industry code is FSAIAEAH, International/Expatriate Individual Health Insurance, with a secondary code of HLAEALAN, Ancillary Benefits TPA (Dental/Vision/Life/Accident/Critical Illness). Its NAICS code is 524210 and its SIC code is 6411.