AlaCOMP

What AlaCOMP does

AlaCOMP is a workers' compensation self-insurance fund domiciled in Alabama and founded in 1992, headquartered in Montgomery. The fund delivers workers' compensation coverage to Alabama-based businesses and, since October 2020, to members with out-of-state operations through a partner-carrier program with Midwest Employers Casualty (with claims handled by Gallagher-Bassett under AlaCOMP supervision). Core distribution runs exclusively through independent insurance agents, supported by a self-service online portal for instant quoting and binding of policies up to $15,000 in manual premium, alongside field marketing representatives who support larger accounts.

AlaCOMP's product set is built around a unified workers' compensation insurance product bundled with modular add-ons: ghost policies for sole proprietors, multi-state/cross-border coverage, loss control and risk management services staffed by four specialists and a full-time data analyst, an electronic billing system (Invoice Cloud) with AutoPay and Pay by Text, flexible payment plans (annual, quarterly, monthly installment, monthly reporting) requiring only 10% down versus the industry-standard 25%, waivers of subrogation, an online safety library, and member reward programs tied to loss ratios and safety engagement. Underwriting, claims, and loss control are co-located and coordinated from a single Alabama location, with claims led by an attorney who personally reviews major cases.

Revenue is generated through workers' compensation premiums (recurring, payroll-based with risk classification), membership dues ($185), endorsement fees (e.g., 30-day notice of cancellation, waivers of subrogation), and surplus/distribution of underwriting profit to members as dividends. Customer segments span Alabama SMBs and mid-market accounts across manufacturing, service industries, artisan contractors, trucking (local and long haul), churches, daycares, and multi-state operators. The company is privately held with no identified parent or external investment, and recognized as one of the Best Companies to Work for in Alabama in 2021.

Name

AlaCOMP

Legal name

AlaCOMP Workers' Compensation Self Insurance Fund

Website

https://alacompins.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

AlaCOMP is an Alabama-domiciled workers' compensation self-insurance fund, founded in 1992, that delivers coverage to Alabama SMBs and mid-market businesses exclusively through independent insurance agents, with multi-state, ghost policy, loss control, and online portal modules.

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Insurance Carriers (5241), Other Insurance Funds (52519)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Employer’s Liability Umbrella / Excess (FSAJANAJ)

akta.pro secondary industry

Risk Management (ERM), Operational Risk & Business Continuity (BPAEAPAJ)

Keywords

• Workers compensation insurance
• Self insurance fund
• Risk management services
• Claims handling services
• Commercial insurance

Headquarters

HQ city

Montgomery

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Workers' Compensation Insurance Premiums: AlaCOMP generates revenue through workers' compensation insurance premiums collected from members. Premiums are based on payroll and risk classification, with minimum premium requirements varying by business type. Additional revenue comes from membership dues, endorsement fees, and waiver fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels7 records

Core offering

AlaCOMP operates as a workers' compensation self-insurance fund providing coverage to Alabama-based businesses across industries including manufacturing, service, artisan contractors, trucking, and churches/daycares. The company bundles underwriting, claims handling, and loss control/risk management services delivered from a single centralized location, and supplements its core offering with a cross-border/multi-state coverage program, an online agent quote/bind portal, a safety library, and an electronic billing system.

Product overview

AlaCOMP is a workers' compensation self-insurance fund offering a unified insurance product with integrated service modules. The core product is workers' compensation insurance with complementary add-on modules including Ghost Policies for entrepreneurs, Cross-Border/Multi-State Coverage for businesses operating across state lines, Loss Control/Risk Management Services, a web-based Online Quote/Bind Portal, Flexible Payment Plans, Waivers of Subrogation, Safety Library resources, an Electronic Billing System, and reward programs. All services are delivered from one centralized location with underwriting, claims, and loss control departments working together to provide a synchronized service model.

Differentiator

Problem solved

Functional benefit

Products and services

• Workers' Compensation Insurance Core workers' compensation self-insurance coverage for Alabama-based businesses across industries including manufacturing, service businesses, artisan contractors, trucking, churches, and daycares. Includes comprehensive claims handling, underwriting, and risk management services coordinated from a single centralized Alabama location.
• Ghost Policy Program

Quantifiable outcome

• Customer retention above industry standards
• +2 more outcomes

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Midwest Employers CasualtycoreChannel Partner/ Reseller/ Distributor · 18 August 2021Midwest Employers Casualty is AlaCOMP's partner carrier for the cross-border/multi-state workers' compensation program. The partnership enables AlaCOMP to provide coverage in all states excluding New York and monopolistic states. Midwest Employers Casualty has an AM Best rating of A+ (Superior). Claims are handled and adjusted by Gallagher-Bassett with supervision from AlaCOMP. The partnership provides seamless out-of-state solutions for Alabama businesses with multi-state operations.
• Gallagher-BassettcoreImplementation/ SI/ Consulting PartnerGallagher-Bassett handles claims adjustment for AlaCOMP's cross-border program policies written through Midwest Employers Casualty. Claims are supervised by AlaCOMP to ensure consistent service quality across all coverage.
• OSAA (Oklahoma Safety Association)minorStrategic or Co-development PartnerOSAA logo appears as an endorsing association for AlaCOMP, indicating a marketing or referral relationship.
• PCMAminorStrategic or Co-development PartnerPCMA (Professional Trade Association) logo appears as an endorsing association for AlaCOMP, indicating a marketing or referral relationship.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• AmTrust Financial Services: Workers' compensation focused insurer serving small and mid-sized businesses across the US. Comparable product specialization, target market (SMB WC), and multi-state capability, though materially larger scale than AlaCOMP.
• EMPLOYERS (EIG Mutual Holdings): Workers' compensation insurer with mutual/ownership structure focused on small businesses. Comparable in WC-only product focus, SMB target market, and member/mutual-style ownership alignment similar to AlaCOMP's fund structure.
• Berkshire Hathaway Homestate Companies: Workers' compensation focused subsidiary of Berkshire Hathaway operating across multiple states. Comparable in product specialization (WC primary) and small/mid-market commercial focus.
• AF Group: Workers' compensation specialty insurer focused on specific industries and mid-market commercial accounts. Comparable in WC product specialization and selective underwriting approach.
• Accident Fund Holdings: Workers' compensation specialist with multiple operating companies across US regions. Comparable in WC-only product focus and regional operating model; substantially larger scale than AlaCOMP.
• Zenith Insurance: Workers' compensation specialist insurer focused on small to mid-sized businesses. Directly comparable in product specialization (WC-only) and target segment, with similar agent-driven distribution model.
• ICW Group: Regional workers' compensation specialist with multi-state operations (owning Bonded Builders, Explorer, etc.). Comparable in regional WC focus and SMB commercial underwriting approach; larger scale than AlaCOMP.
• State Compensation Insurance Fund (California): California's state-established workers' compensation fund, the largest WC writer in the US. Most structurally comparable to AlaCOMP as a self-insurance fund model for workers' comp, though larger scale and state-mandated.
• Pinnacol Assurance: Colorado's established workers' compensation fund serving the state. Structurally comparable to AlaCOMP as a WC self-insurance fund, though state-mandated for Colorado employers.

Broad incumbents

• The Hartford: Major P&C insurer with substantial workers' compensation practice serving mid-market and small commercial. Broader product portfolio than AlaCOMP but overlaps in WC for similar customer segments; significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCS5zt_qG9rDdhG-BDCzCBAw?view_as=subscriber
• Facebookfacebook.com/alacompins
• LinkedInlinkedin.com/company/alacomp
• Instagraminstagram.com/alacomp_ins
• TikToktiktok.com/@alacompins
• Xx.com/alacomp_ins

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AlaCOMP