Aflac
Aflac Incorporated is a financial services company that specializes in supplemental health and life insurance products primarily in the United States and Japan. Founded in 1955 and headquartered in Columbus, Georgia, Aflac operates through two main segments: Aflac Japan and Aflac U.S. The Japanese segment offers a variety of insurance options including cancer, medical, income support, and both whole and term life insurance, while the U.S. segment provides products such as cancer, accident, critical illness, and dental insurance. Aflac markets its products through a network of sales associates, brokers, and independent agencies, focusing on direct sales to consumers, often in workplace settings. In addition to its insurance offerings, Aflac also provides various services to employers, enhancing employee benefits and support. The company has a venture capital arm, Aflac Corporate Ventures, which invests in early-stage companies in the U.S. and Japan.
Covr Financial Technologies, Inc. is a digitally enabled brokerage general agency that specializes in providing life, long-term care, and disability insurance solutions for financial institutions and their clients. Founded in 2016 and based in Boise, Idaho, Covr offers a range of digital platforms, including Covr Advisor for financial advisors, Covr Consumer for banks and credit unions to sell insurance online, and Covr Insights for managing in-force life insurance policies. The company serves over 24,000 financial advisors and approximately 13 million customers across 30 financial institutions, such as wealth management firms and credit unions. Covr's technology empowers financial professionals to address their clients' insurance needs effectively while facilitating direct access to products for consumers. The company has garnered the support of prominent venture capital firms and boasts an advisory board composed of notable leaders from the financial services sector.
Limelight Health, Inc. is a developer of a cloud-based platform designed to streamline and automate the quoting, underwriting, and proposal processes for the employee benefits industry. Founded in 2014 and headquartered in San Francisco, California, with additional offices in Redding and Des Moines, the company serves health insurance carriers, general agents, and brokers. Its technology facilitates higher sales by automating manual workflows and enhancing plan distribution. The platform features a comprehensive suite of configurable microservices, including quoting, rating, proposal generation, and enrollment support, all aimed at simplifying user experiences and promoting brand value. Limelight Health also provides seamless integration with various industry systems through its API, allowing for efficient data management and process automation. As of August 2020, Limelight Health operates as a subsidiary of FINEOS Corporation Holdings plc.
Singapore Life provides digital life insurance services. Singapore Life offers high net worth universal life solutions for those that prefer Singapore and the Singapore regulatory environment as a destination for their wealth and protection needs. It also offers protection solutions made available both digitally and through financial advisers to the retail segment, revolutionising how easy insurance can be. The Company incorporates multiple InsurTech solutions to improve the customer experience. Singapore Life represents the next generation of life insurance where customers are empowered through a simplified insurance purchase process.
Wellthie Inc., an insurance technology company, offers broker and carrier shopping tools to simplify insurance distribution for small businesses and individuals. It offers cloud-based e-commerce platform for selling tools, medical and ancillary quotes, broker management dashboard, modeling and scenario planning, online storefront, custom client proposals, distribution channels, marketplace product promotion, small group and individual analysis, market insights, and consumer engagement. The company was founded in 2013 and is headquartered in New York, New York.
Originally founded as Carolina Continental Insurance Company in 1980, CAIC specializes in offering voluntary group insurance products that are distributed by insurance brokers at the worksite. CAIC is rated A- (Excellent) by A.M. Best. Based on statutory accounting statements filed with the state insurance departments, CAIC produced total revenues of $79 million and net income of $7 million in 2008. At the end of 2008, CAIC's admitted assets were $104 million and capital and surplus was $33 million. For reporting purposes under U.S. generally accepted accounting principles (GAAP), CAIC's future financial results will be consolidated into the Aflac U.S. reporting segment for Aflac Incorporated and subsidiaries.
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