Excellent Fortune Life Insurance

What Excellent Fortune Life Insurance does

Excellent Fortune Life Insurance Co., Ltd. (EFI Life) is a privately held Myanmar life insurer founded in 2013 and headquartered in Yangon. It operates as the life-insurance arm of the Excellent Fortune Development Group conglomerate, with an initial paid-up capital of MMK 46 billion. Following a 2019 government directive requiring separation of life and general insurance, EFI Life was spun out from the original combined entity, while Excellent Fortune General Insurance Co., Ltd. (EFI General) retained general insurance operations under the same parent.

EFI Life distributes 14 life insurance products — including term life, endowment, education/student life, critical illness, health and micro-health, personal accident, group life, farmer life, snake bite, travel, and credit life — through a multi-channel model: a website with quote functionality (efilmm.com), dedicated phone hotlines, two Yangon branch offices (Head Office in Kamayut, Mayangone Branch), and a network of financial-services consultants/advisors. Pricing is unit-based and age-banded, with annual or monthly billing; pricing examples include micro health premiums starting at 5,000 MMK, student life starting at 895 MMK/month, and farmer life at 1% of sum insured. Customer segments span individual consumers, commercial/business clients, farmers, and students/parents.

The revenue model is subscription-style recurring premium collection across the life portfolio, supplemented by sister-entity EFI General's general insurance premiums (motor, fire, marine, cash-in-transit/safe, fidelity, inland and overseas transit). Underlying technology is described as a digital customer experience platform supporting online quoting and policy servicing, with no disclosed AI/ML, proprietary models, patents, or data assets. The company conducts CSR activities (blood donations, school donations, pandemic relief) as a brand-building channel alongside website content and direct sales.

Name

Excellent Fortune Life Insurance

Legal name

Excellent Fortune Life Insurance Co., Ltd.

Website

https://efilmm.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Excellent Fortune Life Insurance is a Myanmar-licensed life insurer offering term, endowment, health, micro-health, education, farmer, and personal accident cover to individuals, families, farmers, students, and commercial clients across Myanmar, distributed through digital, hotline, branch, and advisor channels under the Excellent Fortune Development Group.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Life Insurance (6311), Accident & Health Insurance (6321), Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)

akta.pro industry

PRIMARYFSAIABAA

Whole Life Insurance

Financial & Insurance/Insurance — Life & Health/Whole & Universal Life Insurance

SECONDARYFSAIADAD

Group Variable Universal Life (GVUL)

Financial & Insurance/Insurance — Life & Health/Group Life Insurance (Employer-Sponsored)

SECONDARYFSAJAMAN

Travel & Accident (Non-Life) Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Motor Vehicle Liability Insurance

Keywords

• Life insurance products
• General insurance products
• Micro health insurance
• Motor vehicle insurance
• Group life insurance

Headquarters

HQ city

Yangon

HQ country

Myanmar (Burma)

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: Collection of insurance premiums for life insurance products including term life, endowment, health, critical illness, student/education, travel, personal accident, farmer life, snake bite, group life, credit life, and micro health insurance products. Premiums are collected as annual payments, single premiums, or monthly/quarterly installments depending on product type.
2. General Insurance Premiums: Collection of insurance premiums for general insurance products including motor vehicle, fire, marine cargo, marine hull, cash in safe, cash in transit, fidelity, and inland transit insurance. Premiums are typically one-time or annual payments based on sum insured and risk profile.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Excellent Fortune Life Insurance (EFI Life) underwrites and sells life, health, accident, savings, education, and specialized personal insurance policies to individuals, families, and groups in Myanmar. Through its sister entity EFI General, the broader EFI business also distributes motor, fire, marine, cash-in-transit, fidelity, and transit insurance products, delivered via branches, call-center hotlines, online quoting, and a network of financial advisors.

Product overview

Excellent Fortune Life Insurance (EFI) operates as a dual-division insurance company consisting of EFI Life for life insurance products and EFI General for general insurance products. The life insurance portfolio includes 14 products: Short Term Endowment Insurance, Student Life Insurance, Education Life Insurance, Public Term Life Insurance, Personal Accident Insurance, Group Life Insurance, Single Premium Credit Life Insurance, Short Term Single Premium Credit Life Insurance, Travel Insurance, Farmer Life Insurance, Critical Illness Insurance, Micro Health Insurance, Health Insurance, and Snake Bite Insurance. The general insurance portfolio includes 9 products: Motor Vehicle Insurance, Fire and Allied Perils Insurance, Marine Cargo Insurance, Marine Hull Insurance, Cash in Safe Insurance, Cash in Transit Insurance, Fidelity Insurance, Inland Transit Insurance, and Overseas Marine Cargo Insurance. The company, founded in 2013 and headquartered in Yangon, Myanmar, aims to provide accessible insurance solutions to the Myanmar population through digital technology-supported products.

Differentiator

Problem solved

Functional benefit

Products and services

• Short Term Endowment Insurance An insurance product that helps policyholders accumulate wealth while providing protection against death and total permanent disability, with flexible policy terms and maturity benefits.
• Student Life Insurance Education-focused life insurance designed for students that provides protection and savings for future education expenses, with cash withdrawal benefits from age 17, death and total permanent disability benefit, and payor's benefit options.
• Education Life Insurance A life insurance product that provides financial support for children's educational goals, offering death benefit, education benefit, and premium waiver options.
• Public Term Life Insurance Term life insurance providing financial protection for policyholder's family with death benefit, total permanent disability benefit, and injury/accident coverage.
• Personal Accident Insurance Insurance coverage for accidents including road traffic accidents, falls, injuries, drownings, and fire-related incidents, providing lump sum payment upon death or permanent disability.
• Group Life Insurance Employer-provided life insurance covering employees for death or injury both on and off the job, with lump sum payment for accidental death or total permanent disability, with Covid-19 death compensation doubling the sum insured.
• Single Premium Credit Life Insurance Single premium life insurance that provides lump sum payment to cover loans upon death or total permanent disability of the insured, protecting loved ones from financial hardship.
• Short Term Single Premium Credit Life Insurance Short-term credit life insurance with single premium payment that pays lump sum to redeem loans upon death or total permanent disability.
• Travel Insurance Travel insurance covering domestic travel, under 100 miles travel, and special travel, providing protection for death, permanent disability, or injury caused by accidents while traveling.
• Farmer Life Insurance Insurance product designed for farmers and agricultural workers covering death, total permanent disability, injury, and hospitalization with 1% premium rate of sum insured.
• Critical Illness Insurance Insurance covering critical illnesses such as heart attack, stroke, major organ transplant, cancer, renal failure, and coronary artery bypass surgery, providing financial support for treatment.
• Micro Health Insurance Affordable health insurance providing basic medical coverage for hospitalization and accidental death for individuals aged 6 to 75 years with sum assured of 500,000 MMK per unit.
• Health Insurance Comprehensive health insurance covering hospitalization due to illness or accidents, surgery costs, death benefit, outpatient treatment, and miscarriage coverage.
• Snake Bite Insurance Specialized insurance covering death, hospitalization, medical expenses, amputation, and blindness due to snake bites, addressing Myanmar's high rate of venomous snakebite incidents.
• Motor Vehicle Insurance Comprehensive motor vehicle insurance covering vehicle damage, third party liability, accidental collision, fire, theft, and Acts of God, with No Claim Bonus up to 40% for private vehicles and 25% for commercial vehicles, and fleet discount of 10% for 10+ vehicles.
• Fire and Allied Perils Insurance Property insurance covering loss of buildings, machinery, furniture, and stocks due to fire, lightning, and other natural hazards, with premium rates between 0.13% to 3.5% and No Claim Bonus up to 25% on renewal.
• Marine Cargo Insurance Insurance protecting cargo during marine transportation against damage caused by fire, natural disasters, sinking, capsizing, and collision, available for coastal and inland transit.
• Marine Hull Insurance Insurance protecting vessels navigating in and out of Myanmar covering total loss, damage from natural disasters, collision, stranding, fire, and equipment damage.
• Cash in Safe Insurance Insurance protecting businesses from loss of money stored in safes or vault rooms due to burglary, theft, and armed robbery, with premium rates from 0.2% (government/banks) to 1% (private organizations).
• Cash in Transit Insurance Insurance covering financial loss due to theft of cash during transit using excessive force, with premium rates ranging from 0.27% to 0.9% of sum insured based on distance travelled.
• Fidelity Insurance Business insurance covering loss of cash due to employee dishonesty, theft, or fraud, with premiums of 1% for government enterprises and banks and 2% for private enterprises.
• Inland Transit Insurance Insurance protecting goods during land transportation against losses from natural disasters, accidental damage, and fires, with premium rates of 0.14% for general goods, 0.28% for fuel, and 0.8% for fragile items.
• Overseas Marine Cargo Insurance Insurance covering import and export goods against risks such as fire damage, natural disasters, goods damage, loss, or theft during international transportation.

Quantifiable outcome

• No Claim Bonus up to 40% for private vehicle insurance policyholders
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Manulife Myanmar: International life insurer with a Yangon-based operation selling life and health insurance in Myanmar. Comparable as a foreign-affiliated life insurance carrier targeting Myanmar's emerging middle-class consumer segments.
• IKBZ Insurance: Myanmar-based insurance company affiliated with IKBZ Bank, offering life and general insurance. Comparable as a local bank-affiliated multi-line insurer with similar distribution synergy and product mix.
• AMIG (Asia Myanmar Insurance Group): Myanmar-based insurance group offering life and general insurance products across the country. Comparable as a domestic private multi-line insurer with similar customer segments and regulatory environment.
• Asia Insurance (Myanmar): Myanmar-based insurance company providing life and general insurance products to individuals and businesses. Comparable as a privately-held multi-line insurance peer operating in the same Yangon-centric market.
• AYA SOMPO Insurance Myanmar: Joint venture between AYA Bank of Myanmar and SOMPO Japan, providing general insurance products in Myanmar. Comparable as a privately-held Myanmar insurer with international backing, competing in the same motor, fire, and marine product lines.
• Prudential Myanmar: Hong Kong-headquartered life insurer with a Myanmar life insurance joint venture approved in 2019. Comparable as a foreign-affiliated life insurance competitor addressing the same individual and group life segments in Myanmar.
• National Insurance Company of Myanmar (Beacon): Myanmar-licensed insurance carrier offering life and general insurance products. Comparable as a domestic private peer operating in the same regulatory regime and channel ecosystem.
• First Myanmar Insurance Co., Ltd: One of the earliest private-sector insurance companies in Myanmar offering both life and non-life products. Closely comparable as a Myanmar-domiciled multi-line insurance peer with similar customer base and product breadth.

Broad incumbents

• Allianz Life Insurance Myanmar: Global insurance leader with a Myanmar joint venture offering life and health insurance. Comparable as a multinational life insurance competitor serving Myanmar's growing upper-middle-class consumer base.
• Myanma Insurance: State-owned national insurance enterprise of Myanmar, dominating the local market across life and general insurance. Directly comparable as the entrenched incumbent that EFI competes against for both retail and corporate policyholders.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/excellent-fortune-life-insurance

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Excellent Fortune Life Insurance