Aflac's Wellness Matters: Engaging Younger Demographics

Aflac's Wellness Initiatives for Younger Demographics

Aflac is targeting younger demographics through initiatives like marketing first sector products in Japan and leveraging the Aflac Wellness Matters survey to promote preventive care and health ownership. Efforts include engaging Millennials and Gen Z in health advocacy and addressing their tendency to skip wellness checkups.

"Additionally, the Company believes that sales of first sector products, including WAYS, Child Endowment and Tsumitasu, position Aflac Japan for potential future long-term sales opportunities by marketing these products to a younger demographic as well as potential cross-selling opportunities of Aflac Japan's third sector products." --- (AFL, sec filing, 2024/Q2)

"The refreshment of these first sector products position Aflac Japan for potential future long-term sales opportunities by marketing these products to a younger demographic as well as potential cross-selling opportunities of Aflac Japan's third sector products." --- (AFL, sec filing, 2024/Q1)

"Doctor Mike is revealing alarming statistics from the Aflac Wellness Matters survey as a callout to younger Americans to advocate for their own health and wellness, while gently encouraging friends and family to do the same." --- (AFL, press release, 2024/08/12)

"It also reminds us how much preventive care matters and to take more ownership of our health, regardless of age, gender or ethnicity." To learn more about the 2024 Wellness Matters survey and to find tips on how to take charge of your own health and encourage others to prioritize theirs, visit Aflac.com/WellnessMatters." --- (AFL, press release, 2024/08/05)

"The 2024 Aflac Wellness Matters Survey found that 77% of Americans admit to putting off an important health checkup.Millennials and Gen Z say they're focused on health, but are taking a chance by skipping wellness checkups The study uncovered an alarming 3 in 5 Americans (60%; up 20% from 2023) have avoided common recommended health screenings." --- (AFL, press release, 2024/08/05)

Marketing Strategies for Younger Demographics

Aflac is focusing on attracting younger customers through targeted promotional measures and evolving product offerings. By building long-term relationships and leveraging a broad network of distribution channels, Aflac aims to enhance sales and cross-sell additional products to younger demographics.

"And so, yes, we'll take anyone that wants to buy. But it is not our push. We want the younger customers is what we're working toward." --- (AFL, earning call, 2024/Q2)

"Max Broden: I think we'll evolve over time where obviously this product targets a younger clientele that gives us the opportunity to build that relationship and as we travel with that customer through their lifetime, we have an opportunity to then cross-sell both medical and cancer, as well." --- (AFL, earning call, 2024/Q2)

"While still very early, we are pleased with how our agencies have sold this product, which drove a 4.5% sales increase for the second quarter being where consumers want to buy insurance remains in an important element of the growth strategy in Japan. Our broad network of distribution channels including agencies, alliance partners and banks continually optimize our opportunities to help provide financial protection to the Japanese consumers." --- (AFL, earning call, 2024/Q2)

"We are planning to roll out promotional measures to further enhance our sales to young and middle aged customers, who we have been selling already successfully." --- (AFL, earning call, 2024/Q1)

"And my fourth point is that we have plans to implement measures to attract more young and middle-aged customers as medical insurance has been well received among those segments and with significant growth at large nonexclusive agencies." --- (AFL, earning call, 2024/Q1)

Strategic Partnerships in Wellness Programs

Aflac's strategic partnerships, such as with SKYGEN, are crucial for enhancing operational excellence and customer experience through automation in claims and billing processes. These collaborations are part of Aflac's broader efforts to stabilize and grow their platform, reflecting their commitment to wellness program initiatives.

"Strategic partnerships are particularly important to private credit managers in today's environment, and we could not be more excited to partner and grow our platform with Aflac Global Investments. Tree Line has built a strong platform with an established long-term track record and an experienced leadership team, Aflac Global Investments Managing Director, Global Head of Private Debt and Strategic Partnerships Catherine Cole said." --- (AFL, press release, 2024/05/16)

"I mentioned before that we're making huge Investments to stabilize that platform. We also announced a partnership with SKYGEN that’s bringing some operational excellence to the table with us to help manage that property." --- (AFL, earning call, 2024/Q2)

"This partnership with SKYGEN will enable Aflac to provide additional support for its claims and billing processes through the infusion of industry-leading automation, enhancing speed and accuracy designed to improve the customer experience." --- (AFL, press release, 2024/07/08)

Technology Integration in Wellness Initiatives

Aflac has integrated technology into its wellness initiatives by promoting digital-first claims experiences through the MyAflac app and web portal, enhancing claims automation, and introducing innovative tools like social robots to assist children. These efforts aim to improve customer experience and engage younger demographics effectively.

""We have delivered on this promise in many ways, including our wellness campaigns that promote the usage of our plans and creating a digital-first claims experience through MyAflac mobile app and web portal."" --- (AFL, press release, 2024/05/23)

"This is foundational. As advances accelerate in our underlying AI models, our ability to help businesses find users at speed and scale and drive ROI just keeps getting better." --- (GOOG, earning call, 2024/Q1)

"LinkedIn Marketing Solutions continues to be a leader in B2B digital advertising, helping companies deliver the right message, to the right audience, on a safe, trusted platform. And when it comes to our subscription businesses, Premium sign ups increased 51% this fiscal year, and we are adding even more value to our members and customers with new AI tools." --- (MSFT, earning call, 2024/Q4)

"By enhancing claims automation and delivering digital capabilities for policyholders, the company has significantly improved the customer experience while also driving efficiency and cost optimization." --- (AFL, press release, 2024/08/07)

"The social robot comes to life using innovative technology, helping kids prepare for medical procedures, communicate their feelings, practice distraction techniques and more." --- (AFL, press release, 2024/05/28)

Impact on Business Performance

Aflac's focus on competing in the group business and targeting profitable segments, combined with a consultative approach to health benefits, enhances talent attraction and retention, thereby positively impacting business performance.

"If there's strong competition out there, fierce competition in the group business, and what we're doing is making sure though that we are able not only to compete, but we want to look at the business that yields profits." --- (AFL, earning call, 2024/Q1)

"We see that as a significant opportunity going forward. The reason we've been successful in that space is both improved affordability at a local market level, but also a very consultative model that we've employed with employers from the standpoint of understanding how health benefits can be a weapon for them relative to talent attraction and retention and the fact that we're agnostic to funding arrangements." --- (CI, conference, 2024/05/15)

"Additional performance measures used to evaluate the financial condition and performance of the Company's segments are listed below." --- (AFL, sec filing, 2024/Q1)