Alfa Insurance was recently awarded the 10th annual Award in Innovation from the National Association of Mutual Insurance Companies (NAMIC). Alfa received the honor for the creation and continued success of its Alfa Leadership Academy.

“Since the launch of the academy in 2015, we’ve been placing a critical emphasis on developing Alfa’s next generation of leaders,” said Alfa and Alabama Farmers Federation President Jimmy Parnell. “Academy classes have been transformative, helping our company break down organizational silos, build trust and improve self-awareness among those participants who take on leadership positions.”

Alfa Leadership Academy participants include insurance and Federation employees. 

During the yearlong program, class members develop leadership skills, enhance company culture, build innovative solutions and provide exceptional service to customers.

Alfa Leadership Academy Class 8 was tasked to find an innovative aspect of the company to nominate for the NAMIC award, Parnell said. They chose the academy, citing evident advancements and improvements made within the company over the last eight years. 

Former class initiatives led to developing innovative strategies to retain employees; creating a survey to evaluate corporate culture; and forming a new marketing strategy based upon Alfa’s Core 4 values of faith, family, community and integrity.

Parnell and Alfa leadership accepted the award June 27 in Quebec City, Canada. NAMIC President and CEO Neil Alldredge hailed Alfa’s innovative achievements. 

“The Alfa Leadership Academy is the hallmark of innovation at Alfa Insurance and demonstrates the difference it can make when insurers embrace and implement innovative processes, technologies and critical thinking,” Alldredge said. “By positioning the people who serve Alfa’s region to take charge, the company has proven just how effective innovation can be in making sure policyholders can continue to receive a high level of service.”

Award criteria included impact in perpetuating mutuality; creativity; measurable impact; potential for the idea to be adapted by NAMIC members; and alignment with focus areas of strategy, innovation, leadership, industry trends and the economy.

The award was sponsored by Guy Carpenter, a global risk and reinsurance specialist based in New York.