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Aflac Inc. is one of the companies that display ethical behaviors in its business operations. It is the biggest provider of insurance cover in the United States. It is regarded as one of the most ethical organizations in the country due to its organizational culture of ethics. It has received various prestigious awards such as the best company in ethical commercial operations (Sullivan, Nabozny & Wilkey, 2018). Most importantly, the company seeks to fulfill the needs of each of its four stakeholders including shareholders, employees, customers and the general populace around it. Its ethical standards towards the customers are evident because its coverage is exceptionally flexible. Therefore, it is able to pay the coverage straightaway to the policyholder instead of paying to a doctor or hospital (MNN, 2017). Secondly, it is able to recompense its claims instantly. For instance, it processes different claims in less than four business days.
Moreover, it is able to provide good working environment to its employees. For instance, it conducts appreciation week annually for six weeks, which train workers on new skills (MNN, 2017). The company is renowned for its exemplary workplace quality such as timely support of its field officers. In terms of shareholders, the company takes pride for growth of its book value since 2007. Aflac has 2.7 percent in divided yield and it has raised its dividend payout yearly for the past three decades (Sullivan, Nabozny & Wilkey, 2018).
In 2007, a global body devoted to enhancing environmental sustainability, corporate responsibility, and business ethics, Ethisphere Institute, recognized Aflac Inc. as the only firm out of six organizations to have been listed in the Most Ethical Companies in the world (Sullivan, Nabozny & Wilkey, 2018). Notably, the institute stated that Aflac initiates actions that rise above making declarations about engaging in ethical businesses.
Aflac Company has convinced various stakeholders in the insurance industry that it is a reliable organization in doing the right thing. The firm is determined to deliver the benefits needed by the customers (MNN, 2017). The firm nurtures the culture of ethics in its innovation, leadership, governance and corporate responsibility.
MNN. (2017). Aflac: Leading on ethics by example. MNN – Mother Nature Network. Retrieved 15 January 2018, from https://www.mnn.com/food/healthy-eating/sponsorvideo/aflac-leading-ethics-example
Sullivan, J., Nabozny, C., & Wilkey, R. (2018). Ethisphere Says Aflac is a World’s Most Ethical Company for 11th Time. Prnewswire.com. Retrieved 15 January 2018, from https://www.prnewswire.com/news-releases/ethisphere-says-aflac-is-a-worlds-most-ethical-company-for-11th-time-300422256.html