Paul S. Amos, one of the three brothers who founded the Aflac insurance company nearly 60 years ago and the man behind its huge success in selling policies at workplaces, died Wednesday in Columbus, Ga. He was 88. The company confirmed his death.
In 1955, his oldest brother, John, formed the insurance company, originally called the American Family Life Insurance Co., and the middle brother, Bill, and the youngest, Paul, joined the effort that year. John, a lawyer, was the visionary always seeking to expand the company and turning it into a major insurer in Japan, while Bill was the operations guy who knew how to keep costs down. Paul focused on selling.
While most insurers sold policies by knocking on doors, Paul had the company emphasize cluster selling and worksite marketing. Instead of making presentations to individuals, the company's sales representatives often went to companies to make sales pitches to groups of employees. Today, most of Aflac's U.S. policies are bought through payroll deductions.
"Paul's contributions can't be overstated," Kenneth Janke, Aflac's deputy chief financial officer, said in an interview.
Thanks to such strategies, Aflac, known for selling supplemental policies such as cancer insurance, has grown into a giant that insures more than 50 million people and has $121 billion in assets and 185,000 agents.