Aflac Inc. is an insurance company headquartered at Columbus, Georgia. It was founded on November 17th 1955, and as of 2020, was USA’s largest supplement insurance provider. Till the same year, it had provided over 50 million people with beneficial i
Aflac Inc. is an insurance company headquartered at Columbus, Georgia. It was founded on November 17th 1955, and as of 2020, was USA’s largest supplement insurance provider. Till the same year, it had provided over 50 million people with beneficial insurance solutions across the world.
It began its journey as the American Family Life Insurance Company of Columbus with 16 employees and 60 agents. By 1970, the company grew from a small regional business and became a licensed insurer in 37 different states of America. Within 4 years from that, Aflac started its international endeavour by venturing into the Japanese insurance market and became the 3rd US Company ever to do so.
The same year it wrote $25 million worth of premium and started its trading journey in the New York Stock Exchange under the symbol AFL. Aflac share prices started at $7.25 each and reached their highest on July 19th 2019, at $56.89.
In 1989, the company officially changed its name to Aflac and began its philanthropic journey. It pledged $3 million to the Aflac Cancer Centre for its establishment and in 1999 Aflac Japan built the Aflac Parent Centre together with the Children’s Cancer Association of Japan.
Aflac launched SmartApp, an app that makes the policy application process more convenient, back in 1996. In 1999, it received an award under the category of Excellence in Technology from the Computerworld Smithsonian.
This S&P 500 company provides both business and individual insurance coverage for several types of accidents, cancers, critical illnesses, dental issues, hospital, life insurance, short-term disabilities and vision imparity. In 2015, it introduced One Day Pay, which allows Aflac to receive, process, approve and disburse payments for eligible claims within a single working day.
It has received some notable recognition from Fortune Magazine as it managed to acquire a place in the list of “The World’s Most Admired Companies” for the 17th time in 2017. Further, it had also appeared in the list of “100 Best Companies To Work For” for 20 consecutive years as of 2018.
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