Aflac
Aflac provides supplemental health, life, disability, dental, and absence-management insurance that pays cash benefits to policyholders, distributing coverage to employers and individuals through agents, brokers, workplace programs, direct sales, and digital self-service.
- Company typePublic
- Founded1955
- HeadquartersColumbus, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Aflac does
Aflac Incorporated is a publicly traded Fortune 500 insurer founded in 1955. Through subsidiaries including Continental American Insurance Company (CAIC) and state-domiciled operating entities, it sells supplemental insurance to employers and individuals in the United States and Japan. Its portfolio includes accident, critical illness, life, hospital indemnity, short- and long-term disability, dental, cancer, group life and AD&D, and absence-management products, including administration of federal and state leave programs.
Aflac distributes coverage through independent agents, brokers, direct employer and consumer sales, customer-service centers, and MyAflac web and mobile self-service. Its disclosed technology is centered on conventional insurance administration, including online claim submission, EFT/ERA ANSI 835 provider payments, direct deposit, and a group remittance portal; customer-service interpretation is available in more than 50 languages. The identified revenue streams are recurring supplemental-insurance premiums and group-policy administration services. Premiums are quote-based, with monthly, quarterly, semiannual, and annual payment options; individual policies may be underwritten by designated Aflac entities or Tier One Insurance Company, while CAIC primarily underwrites group coverage.
Aflac firmographics
Firmographics- Name
- Aflac
- Legal name
- Aflac Incorporated
- Website
- https://aflacgroupinsurance.com
- Company type
- Public
- Founded year
- 1955
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Aflac provides supplemental health, life, disability, dental, and absence-management insurance that pays cash benefits to policyholders, distributing coverage to employers and individuals through agents, brokers, workplace programs, direct sales, and digital self-service.
- Ownership category
- akta.pro rank
Aflac industry classification
Industry- Product category
- Supplemental Insurance
- NAICS
- Direct Life, Health, and Medical Insurance Carriers (52411), Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Carriers (5241), Insurance Carriers and Related Activities (524)
- SIC
- Accident & Health Insurance (6321), Insurance Carriers, Nec (6399), Insurance Agents, Brokers & Service (6411), Life Insurance (6311)
- akta.pro primary industry
- Voluntary/Worksite Critical Illness & Hospital Indemnity (Employee-Paid) (FSAIAKAF)
Keywords
Where Aflac is headquartered
LocationHeadquarters
- HQ city
- Columbus
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Aflac business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Supplemental Insurance Premiums: Aflac generates revenue through insurance premiums collected from policyholders. The company offers various supplemental insurance products including accident, critical illness, life, hospital indemnity, short-term disability, and dental insurance. Premiums are paid by employers on behalf of employees (group) or directly by individuals.
- Group Insurance Administration: Revenue from administering group insurance policies for employers, including benefits consulting, enrollment services, and employee communication services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Individual supplemental insurance coverage |
| Subscription | Monthly | Group employer-sponsored coverage |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
Aflac product offering
Product offeringCore offering
Aflac is a supplemental insurance company that sells individual and group insurance products (accident, critical illness, life, hospital indemnity, short-term disability, dental, and life/absence management) paying cash benefits directly to policyholders when they are sick or hurt. Through its subsidiary Continental American Insurance Company (CAIC), branded as Aflac Group Insurance, the company distributes voluntary group benefits to employers and workplace enrollment programs, while also offering direct-to-consumer individual coverage underwritten by Tier One Insurance Company.
Product overview
Aflac is a Fortune 500 supplemental insurance company that offers a portfolio of individual and group insurance products designed to pay cash benefits when policyholders are sick or hurt. The core product portfolio includes Accident Insurance, Critical Illness Insurance, Life Insurance, Hospital Indemnity Insurance, Short-Term Disability Insurance, and Dental Insurance. Aflac Group Insurance, operated through subsidiary Continental American Insurance Company (CAIC), provides employer-sponsored group coverage including Life and Absence Management Insurance, Long-Term Disability Income Insurance, Short-Term Disability Income Insurance, and Group Life and AD&D Insurance. The company also offers BenExtend for extended benefits and Cancer Insurance. Aflac differentiates by paying cash benefits directly to insured individuals (unless assigned) to help cover expenses not addressed by major medical insurance.
Differentiator
Problem solved
Functional benefit
Products and services
- Accident Insurance Supplemental insurance that pays cash benefits to help cover unexpected expenses resulting from accidents, available to individuals and through employer-sponsored group plans.
- Critical Illness Insurance Supplemental insurance that provides cash benefits to help protect families from financial burden if diagnosed with or treated for a covered critical illness, offered to individuals and employer groups.
- Life Insurance Insurance that provides a financial cushion to beneficiaries when it is needed most, available through individual and group channels. Note: Aflac also offers Universal Life Insurance products underwritten by Trustmark Insurance Company.
- Hospital Indemnity Insurance Supplemental insurance that helps with out-of-pocket costs associated with a covered hospital stay, offered to individuals and employer groups.
- Short-Term Disability Insurance Insurance that maintains a source of income if the insured cannot work because of a covered illness or injury, available to individuals and employer groups.
- Dental Insurance Dental coverage that allows policyholders to use any dentist of their choice, offered to individuals and employer groups.
- Life and Absence Management Insurance End-to-end group offering for companies to manage employee absences while aligning with federal and state leave laws, including ADA administration, FMLA, bereavement leaves, and state Paid Family Leave. Includes Group Life and AD&D, Long-Term Disability, and Short-Term Disability components.
- Cancer Insurance Supplemental insurance that provides cash benefits for diagnosis and treatment of malignant cancer, requiring pathology report for diagnosis, claimant's birth certificate, and itemized medical bills with diagnosis and procedure codes for claims.
- BenExtend Group product that extends benefits review with supporting documentation requirements including itemized bills, surgical reports, and diagnostic test reports.
- Direct-to-Consumer Individual Supplemental Insurance Direct-to-consumer individual supplemental insurance coverage underwritten by Tier One Insurance Company, allowing individuals to purchase supplemental insurance directly from Aflac.
Quantifiable outcome
- Aflac pays cash benefits directly to policyholders for eligible claims
Companies that use Aflac
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Aflac technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Aflac partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- Zurich American Life Insurance CompanycoreOn March 19, 2020, Aflac announced an agreement to acquire Zurich North America's U.S. group benefits business, which consists of group life, group disability, and absence management products. Aflac Columbus and Aflac NY reinsure, on an indemnity basis, Zurich's U.S. in-force group life and disability policies. As of November 2, 2020, Aflac assumed administration of the re-insured Zurich Employee Benefits policies and services.
- Alienware (Dell subsidiary)minorAlienware, a subsidiary of Dell, launched the 'Parallel Realities' campaign involving collaboration with Ford, Wendy's, and Aflac to create disruptive commercials blending their brands with gaming content. The campaign aimed to appeal to gamers' sense of adventure.
Scale indicators4 records
Recent moves4 records
Expansion highlights4 records
Aflac competitors and assessment
Company assessmentDirect peers
- MetLife: MetLife offers group dental, disability, life, and accident & health supplemental products to U.S. employers through brokers, closely overlapping Aflac's group benefits portfolio and broker-driven distribution model.
- Unum Group: Unum is a major provider of group disability, group life, and supplemental health products sold through brokers, with its Colonial Life subsidiary focused on voluntary/worksite supplemental insurance—an almost direct overlap with Aflac.
- Lincoln Financial Group: Lincoln Financial sells group disability, group life, and voluntary supplemental benefits to U.S. employers through the same broker/worksite channels Aflac relies on, with comparable product structures in disability and critical illness.
- Mutual of Omaha: Mutual of Omaha offers a focused portfolio of supplemental health, accident, disability, and Medicare supplement products sold through independent agents, directly overlapping Aflac's individual and group supplemental lines.
- Guardian Life: Guardian offers group dental, disability, life, and supplemental accident and critical illness products through its broker network, directly overlapping Aflac's group benefits portfolio and employer distribution motion.
Broad incumbents
- Cigna Group: Cigna offers supplemental health, accident, and hospital indemnity products alongside its broader medical and dental portfolio, competing with Aflac especially in employer benefits and voluntary/worksite distribution.
- Prudential Financial: Prudential's group insurance division provides group life, disability, and supplemental products to U.S. employers through brokers and worksite channels, competing with Aflac's group and absence management offerings.
- Allstate: Allstate sells supplemental accident and health insurance products (including through National General) targeting individuals and employer groups, providing overlapping coverage to Aflac's accident and critical illness lines.
- Aetna (CVS Health): Aetna offers supplemental hospital indemnity, accident, and critical illness products bundled with its major medical coverage through employer worksite distribution, competing with Aflac inside the same benefits broker channel.
Emerging players
- Voya Financial: Voya provides group disability, voluntary worksite, and supplemental health products through employer benefits brokers, increasingly competing for the same RFPs Aflac targets in mid-market and large employer segments.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Aflac social profiles
Digital presenceAflac financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aflac leadership team
Management profileNumber of profiles
Profiles1 record
Aflac subsidiaries and ownership
Company hierarchySubsidiaries1 record
Aflac funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aflac M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aflac
What does Aflac do?
Aflac is a supplemental insurance company that sells individual and group insurance products (accident, critical illness, life, hospital indemnity, short-term disability, dental, and life/absence management) paying cash benefits directly to policyholders when they are sick or hurt. Through its subsidiary Continental American Insurance Company (CAIC), branded as Aflac Group Insurance, the company distributes voluntary group benefits to employers and workplace enrollment programs, while also offering direct-to-consumer individual coverage underwritten by Tier One Insurance Company.
Is Aflac a public or private company?
Aflac is a public company. It is classified as public and is currently operating.
When was Aflac founded?
Aflac was founded in 1955. It employs 1,001 to 5,000 people.
Where is Aflac based?
Aflac is headquartered in Columbus, United States, in the North America region.
How does Aflac make money?
Two revenue lines are on record. Supplemental Insurance Premiums are the primary driver. The others are group Insurance Administration.
Who are Aflac's main competitors?
Direct peers on record are MetLife, Unum Group, Lincoln Financial Group, Mutual of Omaha and Guardian Life. Broad incumbents are Cigna Group, Prudential Financial, Allstate and Aetna (CVS Health). Voya Financial is listed as an emerging player.
Does Aflac have an API?
No public API is recorded for Aflac.
What industry is Aflac in?
Aflac's product category is Supplemental Insurance. Its primary akta.pro industry code is FSAIAKAF, Voluntary/Worksite Critical Illness & Hospital Indemnity (Employee-Paid). Its NAICS code is 52411 and its SIC code is 6321.