Aflac Seeks Partners in Innovation with Venture Capital Efforts

Aflac Incorporated announced today it is pursuing investment opportunities targeting early-stage companies whose mission is relevant to Aflac’s core business. Designed to help the company enhance its strategic and innovative focus in both the U.S. and Japan, Aflac Corporate Ventures partners with technology accelerators to create the agility required to quickly identify and invest in early-stage companies, helping them accelerate innovation across the insurance value chain, including digital solutions that enhance the customer experience.

In support of this effort, Aflac Corporate Ventures will maintain offices in Charlotte, North Carolina, and in Sunnyvale, California, as part of a partnership agreement with a technology accelerator. The company intends to build up to a $100 million fund over three years, investing in early-stage companies in both the U.S. and Japan, depending on the quality and viability of the opportunities.

“With a greater focus on the customer experience, we feel that it is vital that Aflac prioritizes potential partners that will help us enhance services and shareholder value, while building our future growth engine,” Aflac President of Global Operations Paul S. Amos II said. “By investing in companies that we see as vital to our core business, we will be positioned to innovate as these early-stage companies continue to mature.”

Just over a year ago, Aflac acquired Empowered Benefits, a technology company located in Charlotte, North Carolina, providing cloud-based benefits administration and exchange platform solutions to insurance carriers, brokerages and employers. In the U.S. and Japan, Aflac is actively pursuing investment opportunities as part of its overall corporate venture strategy.

Serving as the president of Aflac Corporate Ventures is Nadeem Khan, who has held numerous positions of increasing responsibility at Aflac since joining the company in 2004, including senior vice president of Corporate Development. He has also been serving as president of Empowered Benefits, a position he will continue to fill.

“Nadeem is the obvious choice to lead Aflac Corporate Ventures,” remarked Amos. “He is a key member of our leadership team with a very successful record. I am confident he will continue to be successful in creating valuable partnerships that will help Aflac continue to find innovative ways to enhance the experience of our customers.”