Aflac 2011 Annual Report Download - page 15

Many consumers like to purchase
insurance through retail insurance locations
called service shops where policyholders can meet
with Aflac sales associates for face-to-
face consultations to determine possible
insurance needs. At this Aflac service
shop in Marunouchi, a commercial dis-
trict of Tokyo, an Aflac Japan sales agent
helps assess the insurance needs of a
potential policyholder.
Medical Products:
In early 2002, we introduced EVER,
a stand-alone, whole-life medical
product. Following the introduction
of EVER, Aflac became the number
one seller of medical insurance in
Japan. Since then, we have continued
to create variations of EVER to
appeal to new market segments and
achieve greater market penetration.
In 2009, we revised our medical
products and a new generation of
our EVER product was introduced
with enhanced surgical benefits and
gender-specific premium rates. In
June 2010, we launched an enhanced
version of Gentle EVER, our non-
standard medical product that was
originally introduced in 2007, for
consumers who cannot qualify for
our popular New EVER policy. Most
recently, in January 2012, we further
strengthened our medical portfolio
and upgraded our New EVER product,
improving it to include even more
advanced medical treatment options
than its predecessor. We will continue
to update our products to better reflect
changes in current medical treatments
and to further identify opportunities to
respond to the needs of consumers.
Cancer Products:
In September 2007, we introduced
Cancer Forte, the first major product
revision we have made to our base
cancer policy since 2001. In June
2010, we introduced Corsage, a
new female-specific cancer rider to
appeal to younger Japanese females.
In March 2011, we introduced DAYS,
our new base cancer policy and
DAYS PLUS, which upgrades older
cancer policies. DAYS replaces
Cancer Forte, most notably with
enhanced outpatient and anticancer
medication benefits.
Ordinary Life Products
In December 2007, banks were
permitted to sell the traditional
health-related products that Aflac
oers to its customers for the first
time. As the bank channel has
become a larger contributor to
sales, Aflac Japan has also been
enhancing its product portfolio to
better meet the needs of banks.
Ordinary life products, including
child endowment and WAYS, con-
tributed about half to new sales in
2011 as a result of success through the
banks. WAYS was the primary driver
of Aflac Japan’s remarkable sales
growth in 2011. This unique hybrid
whole-life product can be converted
to a fixed annuity, medical cover-
age or nursing care benefits when
the policyholder reaches a predeter-
mined age. The appeal of WAYS to
banks and consumers resulted in its
phenomenal growth story.
PILLAR PRODUCTS: MEDICAL AND CANCER INSURANCE
It’s important to remember that the foundation of our product portfolio has been, and continues
to be, cancer and medical insurance products. In 2011, we maintained our position as the
number one seller of medical and cancer products in Japan, which arms Aflac’s reputation as
a strong product innovator and trusted brand.
Building from this solid foundation, we continue to update our two pillar products and
leverage our branding, administrative eciency, and distribution to grow our product oerings
and meet the evolving needs of consumers.
AFLAC INCORPORATED 2011 YEAR IN REVIEW 13
AFLAC JAPAN PRODUCTS
INCOME-LOSS PROTECTION ASSET-LOSS PROTECTION SUPPLEMENTAL MEDICAL
Life Cancer Medical (fixed-benefit)
•Term Care Life
•Whole Life •Hybrid (WAYS)
•Hybrid (WAYS) •Hybrid (WAYS)
Fixed Annuity
Child Endowment