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§ Private Profile · Atlanta, GA, USA
PlanGap is a technology company.
PlanGap develops and provides proprietary financial product designs and technology solutions for the insurance industry, focusing on protecting Social Security benefits. The company empowers insurers and reinsurers to offer innovative retirement insurance products that provide a payout should government action reduce scheduled Social Security benefits. Their offerings include product creation, pricing consulting, distribution partnerships, and a data-driven insights platform to support carriers.
David Duley founded PlanGap in 2017 with the insight that traditional insurance products failed to address a growing fear among Americans: the potential reduction of Social Security benefits by 2033. Recognizing this critical gap in retirement planning, Duley established the company to pioneer a new category of financial solutions, directly mitigating the risk of Social Security shortfalls.
PlanGap primarily serves insurance carriers and reinsurers, enabling them to offer specific protection against Social Security benefit reductions to their end clients. The company's long-term vision is to establish a new standard in retirement planning, ensuring individuals can retire confidently with their promised Social Security income protected through innovative and responsive financial instruments.
PlanGap has raised $9.0M across 1 funding round.
PlanGap has raised $9.0M in total across 1 funding round.
PlanGap is an Atlanta-based product innovation company founded in 2017 that develops "trigger-based" annuity and life insurance products, specializing in retirement insurance to protect against Social Security benefit reductions due to government action.[1][2][5][6] It partners with insurance carriers, reinsurers, and financial institutions to provide end-to-end solutions—from actuarial design and product integration (as standalone policies or riders) to claims management and predictive data insights—addressing retirees' fears over unreliable retirement income promises.[2][5][6] Serving insurers and their clients, PlanGap solves the gap in retirement security amid concerns that 70% of clients doubt full Social Security benefits, pioneering the first such protection products with strong early momentum via a $9.4 million Series A in 2021 and partnerships like Annexus and Insurex.[1][3][5]
PlanGap was founded in 2017 by David Duley, its CEO, who drew inspiration from an overheard conversation on a flight from Atlanta to Seattle where an elderly couple expressed anxiety about potential Social Security cuts—a worry echoing his upbringing in Flint, Michigan.[6] Duley aimed to pioneer "retirement insurance" by uniting innovators in finance, insurance, fintech, insurtech, and actuarial firms to create products countering broken promises on Social Security, pensions, and other income sources.[2][6] Early traction included launching the first annuity paying a bonus on Social Security reductions in 2020, followed by the $9.4 million Series A in late 2021 and strategic partnerships, marking pivotal steps in product rollout and market validation.[1][5][6]
PlanGap rides the insurtech wave addressing America's retirement crisis, where Social Security shortfalls loom amid demographic shifts, fiscal pressures, and eroding trust in government promises—70% of clients now doubt full benefits.[5][6] Its timing aligns with rising demand for innovative financial products post-2020 uncertainties, enabling insurers to differentiate in a competitive market by offering "retirement insurance" amid pension declines and longevity risks.[2][6][7] By partnering with carriers and leveraging data-driven tools, PlanGap influences the ecosystem, ushering in a new category that empowers advisors, boosts insurer-client retention, and sets standards for trigger-based protections against institutional failures.[1][5][7]
PlanGap is poised to expand its product suite with more affordable options and protection levels, scaling through global insurer partnerships and advanced claims tech amid ongoing Social Security debates.[2][6] Trends like AI-enhanced actuarial modeling, regulatory scrutiny on retirement risks, and insurtech consolidation will shape its path, potentially amplifying influence as retirement insecurity grows. As the pioneer putting control back in retirees' hands, PlanGap's innovations could redefine how insurers secure America's "new American Dream" of protected retirement income.[6]
PlanGap has raised $9.0M in total across 1 funding round.
PlanGap's investors include Cultivation Capital, Early Light Ventures.
PlanGap has raised $9.0M across 1 funding round. Most recently, it raised $9.0M Series A in December 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2021 | $9M Series A | Cultivation Capital | Early Light Ventures | Announced |