Marketing Assessment Report: Aflac Insurance Agency
Tyler Gault
Dr. DiBartolo
MKTG 330
December, 10,2011
Marketing Assessment Report- Aflac Insurance Agency
Brief Company History: Aflac was founded by brothers John, Paul, and Bill Amos in 1955. Aflac Incorporated is an international holding company based in Columbus, Georgia. In 1958 Aflac was recognized for introducing one of the world’s first cancer expense insurance policies. In its initial year 5,810 plans were sold and by the end of the decade Aflac had 376 agents selling insurance in Georgia, Alabama, and Florida. Aflac began adding many new insurance policies, including accident, short-term disability, hospital intensive care, hospital confinement indemnity, lump sum cancer, lump sum critical illness, specified health event, life, dental, and vision. In 1964 Aflac developed the “cluster-selling” technique of making presentations to groups of employees, this conserved time and effort rather than doing face to face with each employee. Aflac is the number one supplemental health provider in the U.S. The company is present in all 50 states and in Guam, Puerto Rico, and the Virgin Islands. Aflac insures more than 50 million people worldwide and has 70,000 licensed agents. (Aflac Annual Report for 2010) They are currently ranked 125 on the Fortune 500 list of America’s largest corporations. In the mid-1970s Aflac entered the Japanese market and they were only the third American insurance company to be licensed to sell in Japan. Aflac was set to do well in the Japanese market, with cancer insurance not available from Japanese insurers and cancer awareness growing in Japan good things were in line for the company. They insure approximately one out of every four households in Japan. They also insure more than 35,400 payroll accounts representing 89% of the companies listed on the Tokyo Stock Exchange, as well as employers and employees at 159,610 small businesses. (Aflac Annual Report 2009) Today Japan accounts for about 75% of the
Dr. DiBartolo
MKTG 330
December, 10,2011
Marketing Assessment Report- Aflac Insurance Agency
Brief Company History: Aflac was founded by brothers John, Paul, and Bill Amos in 1955. Aflac Incorporated is an international holding company based in Columbus, Georgia. In 1958 Aflac was recognized for introducing one of the world’s first cancer expense insurance policies. In its initial year 5,810 plans were sold and by the end of the decade Aflac had 376 agents selling insurance in Georgia, Alabama, and Florida. Aflac began adding many new insurance policies, including accident, short-term disability, hospital intensive care, hospital confinement indemnity, lump sum cancer, lump sum critical illness, specified health event, life, dental, and vision. In 1964 Aflac developed the “cluster-selling” technique of making presentations to groups of employees, this conserved time and effort rather than doing face to face with each employee. Aflac is the number one supplemental health provider in the U.S. The company is present in all 50 states and in Guam, Puerto Rico, and the Virgin Islands. Aflac insures more than 50 million people worldwide and has 70,000 licensed agents. (Aflac Annual Report for 2010) They are currently ranked 125 on the Fortune 500 list of America’s largest corporations. In the mid-1970s Aflac entered the Japanese market and they were only the third American insurance company to be licensed to sell in Japan. Aflac was set to do well in the Japanese market, with cancer insurance not available from Japanese insurers and cancer awareness growing in Japan good things were in line for the company. They insure approximately one out of every four households in Japan. They also insure more than 35,400 payroll accounts representing 89% of the companies listed on the Tokyo Stock Exchange, as well as employers and employees at 159,610 small businesses. (Aflac Annual Report 2009) Today Japan accounts for about 75% of the