Carrico Maldegen Insurance Agency

What Carrico Maldegen Insurance Agency does

Carrico Maldegen Insurance Agency is a privately held, independent insurance agency headquartered in Northville, Michigan, with roots dating to 1928 when Art Mains founded Mains Insurance Agency in Dearborn, Michigan. The agency operates as a multi-carrier broker placing personal and commercial insurance through a panel of ten carriers including Auto-Owners Insurance (a relationship maintained since 1931), Chubb, Travelers, Nationwide, Hartford, Cincinnati, Hanover, Selective, Accident Fund, and Michigan Miller's. It is licensed in 10 states with concentration in Southeast Michigan, and is owned and operated by President Richard Carrico and Vice President Michael Maldegen following their 2014 management buyback from Comerica Bank.

The agency's product portfolio spans personal lines (auto, home, life, motorcycle, boating, classic car, RV, renters, umbrella, and health) and commercial lines (business liability, commercial auto and property, contractors, restaurant, cyber liability, E&O, farm and ranch, landlord liability, and workers compensation). Two proprietary advisory processes — Balance Sheet 360 for business risk assessment and Net Worth 360 for personal asset protection — differentiate the offering beyond transactional policy placement, supported by a content/resource center and educational seminars. There is no proprietary technology platform; the agency runs on standard agency-management systems and a FMG Suite content layer.

The revenue model is commission-based on policy placement and renewals with carriers, with pricing quote-driven rather than publicly disclosed. Go-to-market is consultative and sales-led, leveraging 1-on-1 strategy meetings and 6-month policy check-ups across a customer base that is heavily skewed to individuals, families, young professionals, and small businesses. The team is approximately ten people, and the agency's website cites serving roughly 1,000 young professionals across 10 states over the past 8 years.

Name

Carrico Maldegen Insurance Agency

Legal name

Carrico Maldegen Insurance

Website

https://carricomaldegen.com

Company type

Private

Founded year

1928

Operating status

Operating

Headcount range

11–50 employees

Short description

Carrico Maldegen Insurance Agency is a privately held independent insurance agency in Northville, Michigan, placing personal and commercial insurance through ten carriers for individuals, families, and small businesses across ten states.

Ownership category

akta.pro rank

Product category

Insurance Agency Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Independent insurance agency
• Personal insurance coverage
• Commercial insurance coverage
• Life insurance products
• Business risk management

Headquarters

HQ city

Northville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Agency Commissions: As an independent insurance agency, Carrico Maldegen earns commissions from insurance carriers for policies placed. They represent multiple insurance companies including Auto-Owners Insurance, Accident Fund, Chubb, Cincinnati Insurance, Hanover, Hartford, Michigan Miller's, Nationwide, Selective, and Travelers. Revenue is generated through commissions on new policy sales and renewals.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Carrico Maldegen Insurance Agency is an independent insurance agency that sells personal and commercial insurance products through multiple carrier partnerships. The agency provides personalized consultations, risk assessment, and coverage placement for individuals, families, and businesses across multiple lines of insurance. They leverage their independence to shop multiple carriers on behalf of clients for tailored coverage solutions.

Product overview

Carrico Maldegen Insurance Agency is a full-service independent insurance agency offering a comprehensive portfolio of personal and commercial insurance products through multiple carrier partnerships. The agency provides personal insurance products including Auto, Boating, Classic Car, Health, Home, Life, Motorcycle, Renters, RV, and Umbrella coverage. For commercial clients, they offer Business Liability, Commercial Auto, Commercial Property, Contractors, Cyber Liability, Errors and Omissions, Farm and Ranch, Landlord Liability, Restaurant, and Workers Compensation insurance. The agency also provides two proprietary advisory processes: Balance Sheet 360 for business risk assessment and Net Worth 360 for personal asset protection planning. As an independent agency, they access multiple insurance carriers to tailor coverage to individual client needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Insurance Personal lines insurance coverage for individuals and families, including auto, home, and life insurance policies sourced from multiple carrier partners.

Quantifiable outcome

• Helped nearly 1,000 young professionals across 10 states
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and supporting.

• Auto-Owners Insurance CompanycoreChannel Partner/ Reseller/ Distributor · 1 January 1931Long-standing relationship began in 1931 with uninterrupted representation. Auto-Owners is a regional property and casualty insurer providing personal and commercial insurance products.
• Accident FundsupportingChannel Partner/ Reseller/ DistributorWorkers compensation and commercial insurance carrier providing claims, billing, and service support for Michigan and Indiana employers.
• ChubbsupportingChannel Partner/ Reseller/ DistributorGlobal provider of personal and commercial property and casualty insurance, offering high-end personal insurance and commercial coverage through independent agents.
• Cincinnati InsurancesupportingChannel Partner/ Reseller/ DistributorProvides personal and commercial insurance products including property, liability, and business insurance through independent agency distribution.
• Hanover Insurance GroupsupportingChannel Partner/ Reseller/ DistributorProperty and casualty insurance provider offering commercial and personal lines through independent agents.
• Hartford InsurancesupportingChannel Partner/ Reseller/ DistributorMajor commercial and personal insurance carrier offering workers compensation, business insurance, and personal lines through independent agents.
• Nationwide InsurancesupportingChannel Partner/ Reseller/ DistributorLarge diversified insurer providing personal and commercial insurance products through independent agency channel.
• Selective InsurancesupportingChannel Partner/ Reseller/ DistributorRegional commercial and personal insurance provider serving customers through independent agents in multiple states.
• Travelers InsurancesupportingChannel Partner/ Reseller/ DistributorLarge commercial and personal insurance carrier providing property, casualty, and workers compensation coverage through independent agents.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Hub International Limited: Insurance brokerage built on the independent agency model with multi-carrier representation and personal/commercial line focus. Closely comparable business model and customer acquisition approach, scaled across North America.
• Brown & Brown, Inc. Large publicly-traded independent insurance brokerage that distributes personal and commercial lines through a multi-carrier agency model analogous to Carrico Maldegen. Same revenue model (carrier commissions) and same customer-facing motion, though at vastly greater scale.
• Assurex Global: Global network of independent insurance brokerages collaborating on carrier access and best practices. Reflects the same independent agency operating model that Carrico Maldegen uses to deliver multi-carrier solutions.
• Keystone Insurers Group: Alliance of independent insurance agencies that aggregates buying power and carrier access. Operates the same independent agency distribution model that Carrico Maldegen practices at the individual agency level.
• Higginbotham Insurance Agency: Independent insurance brokerage firm offering commercial and personal lines through carrier partnerships. Same commission-based revenue model and consultative sales approach as Carrico Maldegen.
• Insurance Office of America: Independent insurance agency offering personal and commercial lines through multiple carrier relationships. Highly comparable independent brokerage model with property, casualty, life, and specialty offerings.
• Lockton Companies: Largest privately-held independent insurance brokerage globally, providing commercial and personal risk advisory through multi-carrier placements. Closely aligned independent agency model with no carrier ownership conflicts.
• Worldwide Insurance Associates: Independent insurance agency network offering personal and commercial coverage through multiple carrier partners. Directly comparable independent brokerage model with a focus on choice and consultative service.

Broad incumbents

• Marsh & McLennan: Global professional services firm offering insurance brokerage, risk advisory, and consulting. Operates in the same insurance distribution space but at vastly greater scale, with both retail brokerage and consulting businesses.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm offering brokerage, consulting, and claims management across personal and commercial lines. Same product set as Carrico Maldegen but with global scale and broader service portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/carricomaldegen
• LinkedInlinkedin.com/company/carrico-maldegen-insurance-agency

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Carrico Maldegen Insurance Agency