Aflac Incorporated was founded by brothers John, Paul, and William Amos in Columbus, Georgia in 1955 as American Family Life Insurance Company of Columbus. The company signed 6,000 policyholders within the first year.
The company pioneered cancer insurance in 1958. This supplemental insurance was designed to cover expenses not covered by traditional insurance, including travel and loss of income.
In 1964 the company decided to focus on sales through the workplace, eventually through policies sponsored by employers and funded through payroll deductions. The same year the company changed its name to American Family Life Assurance Company of Columbus (AFLAC).
By 1971 Aflac was operating in 42 states.
In the 1970’s Aflac expanded to Japan.
In the 1980’s the company diversified into television and radio stations.
By the end of the 1990’s Aflac controlled more than $37 billion in assets and total yearly sales topped $8 billion.
Today Aflac is the largest provider of supplemental insurance in the United States. It is the largest life insurer in Japan and insures one in four Japanese households. Aflac has 8,000 employees worldwide and had $22.171 billion in revenue in 2011.
