Aflac

What Aflac does

Aflac Incorporated is a publicly-traded supplemental insurance provider founded in 1955 and headquartered in Columbus, Georgia, operating in the United States and Japan — the latter accounting for approximately 50% of total business. The company sells a broad portfolio of individual and group supplemental insurance products including accident, cancer, critical illness, dental, hospital, life, short-term disability, vision, and pet insurance (powered by Trupanion), paying cash benefits directly to policyholders to cover expenses not paid by major medical insurance. Underwriting is conducted through subsidiaries including American Family Life Assurance Company of Columbus, American Family Life Assurance Company of New York, Continental American Insurance Company, Continental American Life Insurance Company, and Tier One Insurance Company, with group products distributed through Continental American Insurance Company.

Aflac's distribution architecture rests on a direct sales force of Benefits Advisors and District Sales Coordinators, supplemented by broker partnerships (notably Empower Brokerage with 8,000 agents), employer/worksite payroll deduction at no cost to the business, direct-to-consumer phone and online channels, and emerging marketplace integrations (Oscar Health's Lucie platform). Technology assets include the MyAflac mobile app with biometric authentication, proprietary enrollment systems supporting face-to-face, call center, virtual, and 24/7 web-based self-service, and agentic AI systems adopted for business intelligence and customer support. The company maintains a 44-year streak of consecutive dividend increases and has been recognized as a World's Most Ethical Company for 20 consecutive years.

The business model is built on recurring subscription premium revenue from supplemental policies, billed monthly through payroll deduction or direct payment, with a new revenue stream emerging from third-party reinsurance via Aflac Re Bermuda Ltd. — which executed its first external transaction (whole life annuities from Japan Post Insurance) in March 2026. Recent strategic moves include new Japan product launches (Anshin Palette, Miraito), a U.S. Long-Term Care Rider for Group Life, government program administration (Maine Paid Family and Medical Leave), and brand expansions into sports sponsorships and pet insurance. Financial performance in Q1 2026 showed total revenues of $4.3 billion (+27.9% YoY), an Estimated Solvency Ratio of ~227%, and a Combined RBC ratio of ~560%, reflecting substantial capital strength, though the company disclosed a March 2026 data breach affecting approximately 4.38 million customers.

Name

Aflac

Legal name

Aflac Incorporated

Website

https://aflac.com

Company type

Public

Founded year

1955

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Aflac is a publicly-traded supplemental insurance provider offering accident, cancer, critical illness, dental, hospital, life, disability, and pet insurance to individuals and employers across the United States and Japan, distributed through independent agents, broker partnerships, and employer payroll deduction.

Ownership category

akta.pro rank

Product category

Supplemental Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114), Direct Life Insurance Carriers (524113), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Accident & Health Insurance (6321), Life Insurance (6311)

akta.pro primary industry

Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD)

akta.pro secondary industry

Medicare Plan Distribution & Brokerage (Captive, Independent, FMOs) (FSAIAGAH)

Keywords

• Supplemental insurance
• Accident insurance
• Cancer insurance
• Group benefits
• Worksite payroll deduction

Headquarters

HQ city

Columbus

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Supplemental Insurance Premiums: Aflac generates revenue through the sale of supplemental insurance policies including accident, cancer, critical illness, dental, hospital, life, short-term disability, and vision insurance. Premiums are collected primarily through payroll deduction for employer-sponsored plans and direct payment for individual policies.
2. Reinsurance Operations: Aflac Re Bermuda Ltd. generates reinsurance income by assuming risk from Japan Post Insurance through coinsurance arrangements for whole life annuities. This represents a new revenue stream from third-party reinsurance transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Aflac is a supplemental insurance provider that issues individual and group insurance policies — including accident, cancer, critical illness, dental, vision, hospital, short-term disability, life and final expense insurance — paying cash benefits directly to policyholders to cover out-of-pocket medical, living, and final expenses not paid by major medical insurance. The company sells through independent agents, broker partnerships, employer worksite/payroll-deduction channels, and direct-to-consumer online/phone channels in the United States and Japan, and also operates Aflac Re (external reinsurance) and administers government leave programs (Maine PFML).

Product overview

Aflac is a supplemental insurance provider offering a broad portfolio of individual and group insurance products designed to pay cash benefits that help cover out-of-pocket expenses not fully paid by major medical insurance. The individual/family product suite includes Accident Insurance, Cancer Insurance, Critical Illness Insurance, Dental Insurance, Dental/Vision/Hearing (DVH) bundled plans, Hospital Insurance, Short-Term Disability Insurance, Life Insurance (term, whole, and final expense), and Pet Insurance (powered by Trupanion). The group/employer product suite, offered through worksite payroll deduction and underwritten by Continental American Insurance Company, includes Accident, Cancer, Critical Illness, Hospital, Short-Term Disability, Dental (network and supplemental), Vision (network and supplemental), Group Life, and Absence Management/Disability services. Aflac also administers the Maine Paid Family and Medical Leave program. Key recent product launches include Anshin Palette medical insurance and Miraito cancer insurance (Japan, Q1 2026), a Long-Term Care Rider for Group Life (March 2026), the Fit Checks cancer awareness campaign with Rachel Zoe (June 2026), and Aflac Re's first external reinsurance transaction with Japan Post Insurance (March 2026). Aflac's products are distributed through independent agents, brokers, employer partnerships, and online channels.

Differentiator

Problem solved

Functional benefit

Brands

• Tier One Insurance Company: Direct to consumer business underwriter offering individual insurance plans including accident, cancer, critical illness, dental, vision, hearing, and final expense life insurance
• Aflac Cancer and Blood Disorders Center
• Check for Cancer

Products and services

• Accident Insurance (Individual) Supplemental accident insurance that pays cash benefits directly to help cover out-of-pocket expenses not covered by major medical insurance, including ambulance fees, therapy, scans, emergency dental, and hospitalization costs. Targeted at individuals and families seeking protection against unexpected injury costs.
• Cancer Insurance (Individual) Supplemental cancer insurance that pays cash benefits directly to policyholders for preventive care, diagnosis, treatment, and continuing care, covering expenses such as screenings, copays, transportation, and everyday costs during cancer treatment. Aflac was the pioneer of cancer insurance in 1957 and the U.S. product supports the broader Check for Cancer movement aimed at increasing U.S. cancer screenings by 10% over 10 years.
• Critical Illness Insurance (Individual) Supplemental insurance providing cash benefits directly to the policyholder to help cover the cost of treating covered critical illnesses and health events, usable for medical bills or other unexpected expenses. For individuals and families facing serious diagnoses such as heart attack, stroke, or kidney failure.
• Dental Insurance (Individual) Individual dental insurance with plan options covering preventive, basic, and major dental services. Annual maximums increase over time and there is no waiting period for routine preventive care; designed for individuals and families seeking standalone dental coverage.
• Dental, Vision and Hearing (DVH) Insurance Bundled DVH (Dental, Vision and Hearing) insurance combining all three coverages in one plan for individuals and families, offering two tiers (Elite and Core) with decreasing deductibles and increasing annual maximums over the life of the policy.
• Final Expense Whole Life Insurance Whole life insurance designed to help loved ones cover funeral and other final expenses, with Level and Modified plan options, fixed premiums, no physical exam required, and lifetime coverage. Marketed to policyholders concerned about end-of-life expenses for themselves or family members.
• Life Insurance (Individual) Term life, whole life, and final expense life insurance policies providing financial security for loved ones, with guaranteed-issue options for select products and portable coverage that travels with the policyholder across employers via Aflac Always.
• Pet Insurance Pet insurance offered in partnership with Trupanion, covering up to 90% of veterinary costs for accidents and illnesses including surgeries, hospital stays, and prescriptions, with direct vet pay at checkout (a Trupanion differentiator). Sold through Aflac Benefits Advisors and on aflac.com.
• Hospital Insurance Supplemental hospital insurance that pays cash benefits directly to help cover high deductibles and out-of-pocket expenses associated with hospital stays, marketed primarily through employer worksite/payroll deduction.
• Short-Term Disability Insurance (Individual) Short-term disability insurance that replaces part of income during recovery from a covered accident or illness, with guaranteed-renewable options and the Aflac Value Rider paying up to $1,000 every five consecutive years. Generally sold through worksite/payroll deduction.
• Supplemental Dental Insurance Supplemental dental insurance providing cash benefits for a variety of dental services with no networks, deductibles, or precertification requirements, offered in Basic ($285), Standard ($400), and Premier ($450) monthly-benefit tiers. Sold to individuals who want cash payouts regardless of network status.
• Group Dental Insurance (Network) Group dental insurance for large employers covering routine and unexpected dental expenses, available as network options to complement employer benefits strategies. Sold through brokers and benefits consultants.
• Group Vision Insurance (Network) Group vision insurance for large employers covering frames, lenses, contact lenses, and annual exams to help employees preserve vision through regular eye care. Sold through brokers and benefits consultants.
• Group Life Insurance Group life insurance for large employers providing essential protection, including term life and whole life options, supporting employees' financial security during their time with the employer. Sold through brokers and benefits consultants.
• Group Disability Insurance Group short-term and long-term disability insurance offered to large employers as a financial safety net for employees unable to work due to injury, illness, or mental condition. Sold through brokers and benefits consultants.
• Absence Management Services Absence management services helping employers manage employee absences and stay in compliance with evolving leave laws (e.g., FMLA, state Paid Family and Medical Leave), offered as part of group benefits packages and supported by the new South Portland PFML operations center.
• Long-Term Care Rider for Group Life (Term to 120) Long-term care rider attached to Group Life Term to 120 — Aflac describes it as the first hybrid term life insurance with long-term care benefits in the U.S. It allows customers to access LTC benefits during their lifetime for home-based, facility-based, or informal care, with optional inflation protection and portability after employment ends.
• Maine Paid Family and Medical Leave Program Administration Contracted third-party administration services for Maine's Paid Family and Medical Leave program, providing claims administration for over 500,000 eligible Maine workers across public and private sectors. Operated from Aflac's South Portland, Maine office opened May 2026.
• Anshin Palette Medical Insurance (Japan) Medical insurance product launched in Japan in Q1 2026 under the Anshin Palette brand, targeting the aging population's healthcare expense gap. Its Q1 2026 launch contributed to a 25.5% sales surge at Aflac Japan alongside Miraito.
• Miraito Cancer Insurance (Japan) Cancer insurance product launched in Japan in Q1 2026 under the Miraito brand, targeting Japan's aging population's cancer coverage needs. Its Q1 2026 launch contributed to a 25.5% sales surge at Aflac Japan alongside Anshin Palette.

Quantifiable outcome

• Pays claims fast with streamlined online process and direct deposits
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• Rachel ZoeminorGTM or Marketing Partner · 29 June 2026Fashion designer Rachel Zoe partnered with Aflac on 'Fit Checks' cancer awareness campaign featuring a custom checkered garment with QR code linking to CheckForCancerNow.com. Campaign aims to increase U.S. cancer screenings by 10% over 10 years.
• Marriott Vacations WorldwideminorGTM or Marketing Partner · 29 June 2026Marriott Vacation Clubs launched 'Inner Circle presented by Aflac' - an owner-exclusive experiences platform offering private concerts, culinary programming, and sporting events. Debuted with Lee Brice performance in Orlando.
• Uplift Her and African American Male Wellness AgencyminorStrategic or Co-development Partner · 23 June 2026Aflac partnered with Uplift Her and African American Male Wellness Agency to sponsor a community wellness event on June 24 featuring R&B artist Raheem DeVaughn and free health screenings. Event promotes cancer awareness and early detection as part of Check for Cancer initiative.
• Oscar HealthcoreTechnology or Integration · 20 April 2026Aflac supplemental coverage is integrated into Oscar Health's Lucie Health Marketplace - an AI-powered all-in-one healthcare shopping platform. Consumers can bundle Aflac supplemental products with major medical plans through the marketplace.
• Japan Post InsurancecoreStrategic or Co-development Partner · 31 March 2026Aflac Re Bermuda Ltd. entered coinsurance agreement effective March 31, 2026 to assume a block of whole life annuities from Japan Post Insurance. This marks Aflac Re's first external reinsurance transaction. Japan Post Insurance continues servicing and administering policies.
• TrupanioncoreGTM or Marketing Partner · 19 March 2026Aflac partnered with Trupanion (rated #1 by veterinarians) to offer pet insurance coverage for dogs and cats. Aflac Benefits Advisors Inc. advertises Trupanion policies and receives compensation for referred policies. Trupanion pays vets directly at checkout - unique capability in pet insurance.
• TogethxrminorGTM or Marketing Partner · 19 March 2026Aflac and Togethxr renewed 'Raise the Bar' campaign during March Madness, with 100 bars pledged to show Women's NCAA Tournament. Includes 'Duck Drops' watch party kits and marquee event featuring Togethxr podcast hosts.
• Empower BrokeragecoreChannel Partner/ Reseller/ Distributor · 11 March 2026Empower Brokerage partnership enables over 8,000 agents to sell Aflac insurance products with access to sales support, contracting, commissions, and bonuses. Expands Aflac's reach in the U.S. insurance market through independent broker channel.
• State FarmminorChannel Partner/ Reseller/ Distributor · 2 March 2026Trupanion continues distribution through State Farm alongside Aflac and Chewy partnerships, expanding pet insurance reach through established insurance and retail channels.
• American Cancer SocietycoreStrategic or Co-development Partner · 1 January 2025Multi-year partnership focused on raising awareness and utilization of cancer screenings through Aflac's Check for Cancer movement. Named 2025 Corporate Partner of the Year by ACS recognizing exceptional partnership contributions.

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Lincoln Financial Group: U.S. life insurance and group benefits carrier offering group disability, dental, and life products — competing with Aflac in the broker-driven employer benefits market.
• Unum Group: Major U.S. provider of group disability, life, and supplemental health benefits. Direct competitor to Aflac's group and worksite product suite, including absence management and group dental/vision.
• Globe Life: U.S. life and supplemental health insurer targeting middle-income consumers through agent-driven distribution. Direct competitor to Aflac's individual accident, cancer, and life policies.
• Voya Financial: U.S. retirement, group benefits, and individual life carrier. Competes with Aflac in group disability, absence management, and voluntary/worksite supplemental products.
• Corebridge Financial: U.S. life and retirement insurer with significant group benefits franchise. Overlaps with Aflac in group life, disability, and supplemental health sold through brokers and worksite channels.

Broad incumbents

• MetLife: Global life, accident, and supplemental health insurer with strong U.S. group benefits franchise. Overlaps with Aflac in group dental, disability, and life insurance sold to employers.
• Prudential Financial: Diversified life insurer with U.S. group insurance and individual life businesses. Comparable to Aflac in life and supplemental disability products distributed through employers and agents.
• Cigna Group: Major health insurer with supplemental health and group benefits offerings. Partners with Aflac on voice-guided customer interaction technology and competes in employer supplemental products.
• Humana: Health and Medicare Advantage-focused insurer offering supplemental products. Adjacent to Aflac's Medicare Supplement business via Tier One Insurance Company.
• Sun Life Financial: International life and group benefits insurer with U.S. employee benefits division. Comparable in disability, dental, and supplemental health offerings sold to U.S. employers.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/aflacduck
• YouTubeyoutube.com/user/aflac
• Facebookfacebook.com/aflacduck
• LinkedInlinkedin.com/company/aflac
• Instagraminstagram.com/aflacduck

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments2 records

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

Frequently asked questions about Aflac