Aflac Incorporated (NYSE: AFL) |
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Aflac Incorporated's Customers Performance
AFL
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AFL's Source of Revenues |
In the Q3, Aflac Incorporated's corporate clients experienced a drop by -49.72 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -24.33 %. During the corresponding time, Aflac Incorporated revenue deteriorated by -40.42 % year on year, sequentially revenue fell by -42.6 %. While revenue at the Aflac Incorporated's corporate clients fell by -37.11 % year on year, sequentially revenue fell by -7.11 %.
• List of AFL Customers
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Customers of Aflac Incorporated saw their costs of revenue drop by -49.72 % in Q3 compare to a year ago, sequentially costs of revenue were trimmed by -24.33 %, for the same period Aflac Incorporated revnue deteriorated by -40.42 % year on year, sequentially revenue fell by -42.6 %.
• List of AFL Customers
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Aflac Japan |
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80.64 % |
of total Revenue |
Aflac U S |
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57.1 % |
of total Revenue |
Corporate and other |
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7.63 % |
of total Revenue |
Select the Relationship:
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Select the Category:
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Customers Net Income grew in Q3 by |
Customers Net margin grew to |
26.04 % |
7.07 % |
Customers Net Income grew in Q3 by 26.04 % |
Customers Net margin grew to 7.07 % |
Aflac Incorporated's Comment on Sales, Marketing and Customers
The traditional channels through which we have sold our products are independent
corporate agencies, individual agencies and affiliated corporate agencies. The
independent corporate agencies and individual agencies that sell our products
give us better access to workers at a vast number of small businesses in Japan.
Agents activities are primarily focused on insurance sales, with customer service
support provided by the Aflac Contact Center. Affiliated corporate agencies are
formed when companies establish subsidiary businesses to sell our insurance products
to their employees as part of a benefit package, and then expand to sell our products
to suppliers and customers. These agencies help us reach employees at large worksites,
and some of them are also successful in approaching customers outside their business
groups. Aflac Japan was represented by more than 15,900 sales agencies, with more
than 126,500 licensed sales associates employed by those agencies. We believe
that new agencies will continue to be attracted to Aflac Japans high commissions,
attractive products, superior customer service and strong brand image.
We have sold our products to employees of banks since our entry into Japan
in 1974. However, December 2007 marked the first time it was permissible for
banks to sell our type of insurance products to their customers. We had agreements
with 372 banks, approximately 90% of the total number of banks in Japan, to
sell our products. We believe we have significantly more banks selling our supplemental
health insurance products than any of our competitors. Japanese consumers rely
on banks not only to provide traditional bank services, but also to provide
insurance solutions and other services. We believe our long-standing and strong
relationships within the Japanese banking sector, along with our strategic preparations,
have proven to be an advantage, particularly starting when this channel opened
up for our products.
Our U.S. sales force comprises sales associates and brokers who are independent
contractors licensed to sell accident and health insurance. Many are also licensed
to sell life insurance. Sales associates and brokers are paid commissions based
on first-year and renewal premiums from their sales of insurance products. In
addition to receiving commissions on personal production, district, regional
and state sales coordinators may also receive override commissions and incentive
bonuses. Administrative personnel in Georgia, New York, Nebraska, and South
Carolina handle policyholder service functions, including issuance of policies,
premium collection, payment notices and claims.
We concentrate on marketing our insurance products at the worksite. This method
offers policies to individuals through employment, trade and other associations.
Historically, our policies have been individually underwritten with premiums
generally paid by the employee. Additionally, Aflacs individual policies are
portable, meaning that individuals may retain their full insurance coverage
upon separation from employment or such affiliation, generally at the same premium.
We collect a major portion of premiums on such sales through payroll deduction
or other forms of centralized billing. With our brokerage sales expansion and
the acquisition of CAIC, branded as Aflac Group Insurance, we offer group voluntary
insurance products desired by many large employers. These products are sold
on a group basis and often have some element of guaranteed issue. Worksite marketing
enables sales associates and brokers to reach a greater number of prospective
policyholders and lowers distribution costs, compared with individually marketed
business.
At the end of 2013, our distribution network comprised more than 76,300 licensed
sales associates and brokers. To enhance the recruiting of sales associates,
the bonus structure for our state and regional coordinators incorporates a people
development component. In addition, we hold national recruiting contests to
incentivize producer recruitment. We also partner with our field offices for
recruiting workshops that focus on improving coordinator productivity by emphasizing
candidate sourcing, interviewing, and contract acceptance.
Aflac Incorporated's Comment on Sales, Marketing and Customers
The traditional channels through which we have sold our products are independent
corporate agencies, individual agencies and affiliated corporate agencies. The
independent corporate agencies and individual agencies that sell our products
give us better access to workers at a vast number of small businesses in Japan.
Agents activities are primarily focused on insurance sales, with customer service
support provided by the Aflac Contact Center. Affiliated corporate agencies are
formed when companies establish subsidiary businesses to sell our insurance products
to their employees as part of a benefit package, and then expand to sell our products
to suppliers and customers. These agencies help us reach employees at large worksites,
and some of them are also successful in approaching customers outside their business
groups. Aflac Japan was represented by more than 15,900 sales agencies, with more
than 126,500 licensed sales associates employed by those agencies. We believe
that new agencies will continue to be attracted to Aflac Japans high commissions,
attractive products, superior customer service and strong brand image.
We have sold our products to employees of banks since our entry into Japan
in 1974. However, December 2007 marked the first time it was permissible for
banks to sell our type of insurance products to their customers. We had agreements
with 372 banks, approximately 90% of the total number of banks in Japan, to
sell our products. We believe we have significantly more banks selling our supplemental
health insurance products than any of our competitors. Japanese consumers rely
on banks not only to provide traditional bank services, but also to provide
insurance solutions and other services. We believe our long-standing and strong
relationships within the Japanese banking sector, along with our strategic preparations,
have proven to be an advantage, particularly starting when this channel opened
up for our products.
Our U.S. sales force comprises sales associates and brokers who are independent
contractors licensed to sell accident and health insurance. Many are also licensed
to sell life insurance. Sales associates and brokers are paid commissions based
on first-year and renewal premiums from their sales of insurance products. In
addition to receiving commissions on personal production, district, regional
and state sales coordinators may also receive override commissions and incentive
bonuses. Administrative personnel in Georgia, New York, Nebraska, and South
Carolina handle policyholder service functions, including issuance of policies,
premium collection, payment notices and claims.
We concentrate on marketing our insurance products at the worksite. This method
offers policies to individuals through employment, trade and other associations.
Historically, our policies have been individually underwritten with premiums
generally paid by the employee. Additionally, Aflacs individual policies are
portable, meaning that individuals may retain their full insurance coverage
upon separation from employment or such affiliation, generally at the same premium.
We collect a major portion of premiums on such sales through payroll deduction
or other forms of centralized billing. With our brokerage sales expansion and
the acquisition of CAIC, branded as Aflac Group Insurance, we offer group voluntary
insurance products desired by many large employers. These products are sold
on a group basis and often have some element of guaranteed issue. Worksite marketing
enables sales associates and brokers to reach a greater number of prospective
policyholders and lowers distribution costs, compared with individually marketed
business.
At the end of 2013, our distribution network comprised more than 76,300 licensed
sales associates and brokers. To enhance the recruiting of sales associates,
the bonus structure for our state and regional coordinators incorporates a people
development component. In addition, we hold national recruiting contests to
incentivize producer recruitment. We also partner with our field offices for
recruiting workshops that focus on improving coordinator productivity by emphasizing
candidate sourcing, interviewing, and contract acceptance.
AFL's vs. Customers, Data
(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)
COMPANY NAME |
MARKET CAP |
REVENUES |
INCOME |
EMPLOYEES |
Aflac Incorporated |
57,913.18 |
17,302.00 |
3,809.00 |
10,000 |
Assured Guaranty ltd |
4,886.72 |
1,043.00 |
749.00 |
350 |
Arthur J Gallagher and Co |
72,302.81 |
22,384.50 |
1,172.60 |
52,000 |
Amerisafe Inc |
946.10 |
315.13 |
61.42 |
350 |
Brown and Brown Inc |
31,741.56 |
4,805.00 |
1,002.00 |
16,152 |
Crawford and Co |
237.99 |
1,303.58 |
19.68 |
10,200 |
Corvel Corporation |
6,105.62 |
870.16 |
88.20 |
3,363 |
Davita Inc |
13,737.09 |
12,815.55 |
1,250.74 |
70,000 |
Employers Holdings Inc |
1,228.28 |
889.80 |
135.90 |
717 |
Erie Indemnity Company |
20,344.62 |
3,746.92 |
559.21 |
6,481 |
Fresenius Medical Care Ag |
6,877.61 |
21,788.05 |
820.35 |
126,000 |
Heartland Media Acquisition Corp |
202.86 |
5,878.24 |
4.01 |
0 |
The Kroger Co |
47,414.64 |
148,098.00 |
2,857.00 |
414,000 |
Primerica Inc |
9,529.47 |
3,046.67 |
458.38 |
2,432 |
Rite Aid Corp |
35.86 |
23,475.49 |
-1,593.91 |
50,000 |
Sundance Strategies Inc |
18.72 |
0.00 |
-2.96 |
0 |
Truist Financial Corporation |
63,152.73 |
12,802.00 |
-1,543.00 |
49,037 |
Tenet Healthcare Corp |
14,649.17 |
19,040.00 |
1,146.00 |
106,500 |
SUBTOTAL |
293,411.83 |
282,302.09 |
7,184.62 |
907,582 |
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