Aflac facts for kids
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Aflac Building, Columbus, Georgia, U.S.
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| Public | |
| Traded as |
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| Industry | Insurance Human resources services |
| Founded | November 17, 1955 (as American Family Life Insurance Company of Columbus) |
| Founders |
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| Headquarters | Aflac Building Columbus, Georgia, U.S. |
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Area served
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Key people
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Dan Amos (chairman, CEO) Frederick J. Crawford (CFO) |
| Products | Supplemental health & life insurance |
| Revenue |  US$19.5 billion (2022) |
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Operating income
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US$4.60 billion (2022) |
| US$4.20 billion (2022) |
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| Total assets | US$131 billion (2022) |
| Total equity | US$22.4 billion (2022) |
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Number of employees
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12,882 (2022) |
Aflac Incorporated is an American insurance company. It is known for offering "supplemental" insurance. This type of insurance pays cash benefits directly to policyholders. This happens when they have a covered accident or illness. Aflac helps over 50 million people around the world.
The company was started in 1955. Its main office is in Columbus, Georgia, in the United States. Aflac is the biggest provider of supplemental insurance in the U.S.
In 2009, Aflac bought another company called Continental American Insurance Company. This helped them sell more types of supplemental insurance to both individuals and groups. By 2012, Aflac had many sales teams. There were about 19,300 sales groups in Japan. There were also 76,900 licensed sales people in the U.S.
Contents
Aflac's Story: How It Started
Aflac was founded in Columbus, Georgia, in 1955. Three brothers, John, Paul, and William Amos, started the company. Its first name was American Family Life Insurance Company of Columbus.
Changing the Company Name
In 1964, the company changed its name. It became American Family Life Assurance Company of Columbus. Then, in 1990, the company started using the shorter name "Aflac." This is an acronym, which means it's made from the first letters of its longer name.
Growing and Going Public
Aflac became a public company in 1974. This means its shares could be bought and sold on the New York Stock Exchange. In its first year, Aflac signed up 6,426 policyholders.
New Types of Insurance
Aflac was a pioneer in 1958. It was one of the first companies to offer cancer insurance. Starting in 1964, Aflac began focusing on selling insurance at workplaces. This meant people could pay for their policies through payroll deduction. By 2003, most Aflac policies in the U.S. were paid this way. This made Aflac a leader in this type of insurance sales.
What Aflac Does
Aflac works in the United States and Japan. Its main offices are in a tall building in Columbus, Georgia. This building is the tallest in the city. By 2015, Aflac had over $103 billion in assets. It provided insurance to more than 50 million people globally.
Aflac is the largest provider of "guaranteed-renewable" insurance in the U.S. This means policies can be renewed without changes as long as premiums are paid. It is also the biggest insurance company in Japan, based on how many individual policies it has.
Types of Insurance Aflac Offers
Aflac offers many different kinds of insurance policies in the United States. These include:
- Accident insurance
- Cancer/Specified Disease insurance
- Dental insurance
- Hospital Confinement Indemnity insurance
- Hospital Confinement Sickness Indemnity insurance
- Hospital Intensive Care insurance
- Life insurance
- Lump Sum Cancer insurance
- Lump Sum Cancer Critical Illness insurance
- Specified Health Event insurance
- Short Term Disability insurance
- Vision insurance
Aflac also helps with other financial services. These include flexible spending accounts for medical, dependent day-care, and transportation costs. They also offer human resources services related to health privacy laws.
The Famous Aflac Duck
Since 1999, Aflac has become very well-known because of its TV commercials. These ads feature the "Aflac Duck." The duck famously quacks the company's name, "Aflac!", to people who don't know about the insurance.
How the Duck Idea Started
An advertising agency in New York City created the Aflac Duck. One of the creative team members thought of the duck idea. He was walking in Central Park and kept saying "Aflac, Aflac." He realized the name sounded like a duck's quack. The Aflac Duck has been in over 30 commercials. The duck is so famous that it's on Madison Avenue's Walk of Fame. This walk honors America's favorite advertising icons.
The Duck's Appearances
The Aflac Duck has appeared with many famous people. These include actor Chevy Chase and basketball player Yao Ming. It also appeared with cartoon characters like Bugs Bunny and Daffy Duck. In 22005, the company's logo was changed to include the duck.
The Voice of the Duck
The duck's voice was first done by comedian Gilbert Gottfried. He was known for his unique voice. In 2011, he was replaced. This happened after some jokes he made on social media about a disaster in Japan. Aflac said his comments did not represent the company's feelings.
Aflac then held a contest to find a new voice for the duck. People could send in their own "quacks." In April 2011, Daniel McKeague from Minnesota was chosen as the new voice. The first commercial with his voice aired in May 2011.
In 2018, the Aflac Duck even appeared in the opening of the DuckTales cartoon show.
Helping the Community: Aflac's Good Deeds
Aflac is very involved in helping others. They have a special partnership with Children's Healthcare of Atlanta. Through this, Aflac has given over $100 million to help with childhood cancer research and treatment.
Aflac employees also volunteer for many charities. These include Habitat for Humanity International, the Easter Seals, and the United Way.
Aflac also tries to be good for the environment. They work with the Clean Air Campaign. This group encourages employees to use different ways to get to work. This helps reduce pollution.
Aflac and Macy's Partnership
Since 2001, Aflac has teamed up with Macy's department stores. They sell a special Aflac holiday plush duck each year. The money made from selling these ducks goes to children's cancer facilities. These are usually the hospitals closest to where the duck is bought. Over $3 million has been raised this way since 2001.
The Aflac Duck has also been a part of the Macy's Thanksgiving Day Parade. It appeared in the parade from 2011 to 2019. In 2014, a new Aflac Duck balloon was shown. This one featured the duck wearing ice skates.
Aflac's Awards and Honors
Aflac has received many awards and recognitions for being a great company.
Awards for Employees and Ethics
- Aflac has been on Fortune's list of the "100 Best Companies to Work For" for 20 years in a row.
- It has also been on Fortune's "America's Most Admired Companies" list for 17 years.
- Ethisphere magazine has named Aflac a "World's Most Ethical Company" every year since 2007.
- Aflac has been on the Dow Jones Sustainability Index North America for six years. This index recognizes companies that are good for the environment and society.
Awards for Diversity
- In 2016, Latina Style magazine named Aflac one of the "50 Best Companies for Latinas to work for." Aflac has been on this list for 17 years.
- Black Enterprise magazine has listed Aflac on its "Top 40 Best Companies for Diversity" for 10 years.
Baseball Awards
Aflac also sponsors awards in high school baseball.
- The "Aflac National High School Baseball Player of the Year" award started in 2004.
- The Jackie Robinson Award is given to a high school player entering their senior year. This award recognizes character, leadership, and being a good student athlete. It is given at an annual banquet.
- This banquet happens after the "All-American Baseball Classic." This is an all-star game for the best high school players. The game started in 2003. Money raised from the game and banquet goes to Rady Children's Hospital in San Diego. It helps in the fight against childhood cancer.
- In 2011, the all-star game's name changed to the Perfect Game All-American Classic.
See also
- List of United States insurance companies
