Profitable Growth Is Not Enough
American Family officially opened the doors to Spark – a building dedicated to innovation, collaboration and entrepreneurship in Madison.
Spark will also be the headquarters of a new part of the company which will use entrepreneurial thinking, processes and partnerships to address social issues.
“We’re launching The American Family Insurance Institute for Corporate and Social Impact to strengthen our company while tackling some profound social issues facing our communities, schools and governments. In so many ways, our brand, our mission and our work directly intersect with building stronger communities. The Institute is one more way to grow our company and make a positive community impact.” – American Family Chair and CEO, Jack Salzwedel.
The American Family Insurance Institute for Corporate and Social Impact (the Institute) builds on the company’s commitment to engage with communities to solve some of society’s challenges through public and private partnerships.
In essence the Institute will help the formation and growth of social and classic entrepreneurs who create living-wage jobs and positively contribute to society. It will focus on entrepreneurs of color and female business owners. In addition the Institute will support entrepreneurship by youth and young adults to spur positive impact in communities and create a sustainable business.
The initial three focus areas of the Institute are: K-12 education – specifically social and environmental challenges particularly among racial groups within our schools, resilient communities – how individuals, communities, businesses and systems within a city survive, adapt and grow no matter the chronic stresses and acute shocks they experience, and economic opportunity for all – serving adults and youth who may be at an increased risk of incarceration or recidivism.
“We need to be a strong, profitable and growing company with the highest levels of customer satisfaction, but those alone are not enough . We also need to be an organization that is a catalyst for change in our communities” – Salzwedel.
