Maximum Benefit Insurance Agency

What Maximum Benefit Insurance Agency does

Maximum Benefit Insurance Agency, Inc. is a New Jersey-domiciled insurance brokerage founded in 1994 that sells personal and commercial insurance products to individual consumers and small-to-medium businesses. Its product portfolio covers homeowners, automobile, business and commercial, group health, and life insurance, sourced from multiple carriers and distributed through direct office sales, phone-based inside sales, and website inquiries. The agency operated from 299 Market Street, #340, Saddle Brook, NJ and competed on competitive pricing and quick quote turnaround, particularly for time-sensitive personal lines transactions such as home closings.

On August 11, 2020, Maximum Benefit Insurance Agency merged with World Insurance Associates LLC, becoming a 'World Company' sub-brand. The Saddle Brook office is currently closed, and service is delivered through the parent's network and digital channels, including the MyWorld Connect customer portal and CSR 24 service request portal. The agency generates commission-based revenue as a percentage of premiums collected by carriers, supplemented by volume and profitability-based compensation from insurers. President Mark Alleman led the merger, citing access to additional resources as the rationale for the transaction. As of the available data, the entity operates exclusively within New Jersey as part of World Insurance Associates' broader agency network and has no disclosed AI/ML, proprietary technology stack, or independent funding activity.

Name

Maximum Benefit Insurance Agency

Legal name

Maximum Benefit Insurance Agency Inc.

Website

https://maximumbenefit.com

Company type

Private

Founded year

1994

Operating status

Acquired

Headcount range

1–10 employees

Short description

Maximum Benefit Insurance Agency is a New Jersey-domiciled insurance brokerage, founded in 1994, offering personal and commercial lines (home, auto, business, group health, life) to individuals and SMBs. Since August 2020, it operates as a sub-brand of World Insurance Associates LLC.

Ownership category

akta.pro rank

Headquarters

HQ city

Saddle Brook

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, Technology or R&D, Infrastructure

Revenue model

1. Insurance Commission: Commission-based revenue calculated as a percentage of the premium collected by the insurer. World Insurance Associates LLC operates as a licensed insurance broker, negotiating terms with insurance carriers and obtaining coverage on behalf of clients. Compensation is customarily commission-based, with additional compensation from insurers based on volume of business and profitability.

Pricing tiers

Distribution channels3 records

Marketing channels4 records

Core offering

Maximum Benefit Insurance Agency is a licensed insurance brokerage offering personal and commercial insurance products, including homeowners, automobile, business and commercial, group health, and life insurance. The agency earns commission-based compensation by negotiating coverage terms with insurance carriers on behalf of clients. As of August 11, 2020, the agency operates as a subsidiary of World Insurance Associates LLC.

Product overview

Maximum Benefit Insurance Agency is a personal and commercial insurance services provider offering a portfolio of insurance products including Homeowners Insurance, Automobile Insurance, Business & Commercial Insurance, Group Health Insurance, and Life Insurance. The agency operates customer-facing portals including MyWorld Connect and CSR 24 Online Portal for policy management and service requests. The agency merged with World Insurance Associates LLC on August 11, 2020.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Insurance Insurance coverage for residential properties, protecting homeowners against property damage, loss, and related liabilities. Targeted at individual homeowners.
• Automobile Insurance Vehicle insurance coverage protecting against financial loss from accidents, theft, and damage. Targeted at individual vehicle owners.
• Business & Commercial Insurance Comprehensive insurance solutions for businesses covering property, liability, workers compensation, and other commercial risks. Targeted at business owners.
• Group Health Insurance Health coverage plans for employer groups and their employees. Targeted at employers providing employee benefits.
• Life Insurance Financial protection for individuals and families, providing death benefits to beneficiaries. Targeted at individual consumers seeking financial protection.

Quantifiable outcome

• Quick quote turnaround for home insurance closings
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• World Insurance Associates LLCcoreStrategic or Co-development Partner · 11 August 2020Maximum Benefit Insurance Agency Inc. merged with World Insurance Associates LLC on August 11, 2020. According to Mark Alleman, President of Maximum Benefit Insurance Agency, 'Partnering with World Insurance Associates will provide us with more resources to better serve our customers.' The partnership provides the agency with expanded resources and capabilities through the World Insurance Associates network.

Recent moves3 records

Expansion highlights3 records

Broad incumbents

• Brown & Brown: Brown & Brown is a large national insurance brokerage that distributes personal, commercial, and employee benefits products through a network of regional offices. It is comparable to Maximum Benefit in placing the same multi-line product set (home, auto, commercial, group benefits, life) but at vastly greater scale.
• Hub International: Hub International is a major North American insurance brokerage operating across personal, commercial, and employee benefits lines through regional offices. It is comparable as a large-scale aggregator that integrates small independent agencies like Maximum Benefit into a broader multi-line distribution platform.
• Arthur J. Gallagher & Co. Arthur J. Gallagher is a Fortune 500 global insurance brokerage and risk management firm placing commercial, personal, and benefits coverage. It competes for the same multi-line distribution and agency acquisition opportunities as Maximum Benefit's parent.
• Lockton: Lockton is the world's largest privately held insurance brokerage, distributing commercial, personal, and benefits products. It is comparable as a large multi-line brokerage aggregator operating a similar go-to-market model to World Insurance Associates.
• World Insurance Associates: World Insurance Associates is the parent company that acquired Maximum Benefit in 2020 and operates as a national insurance brokerage aggregator across personal, commercial, and benefits lines. It is the most directly comparable operating entity since Maximum Benefit's customers and producers are now serviced through World Insurance's platform.
• Acrisure: Acrisure is a top-10 global insurance brokerage built through aggressive rollups of independent agencies — the same model World Insurance Associates uses to consolidate books like Maximum Benefit. It places the same personal/commercial/benefits lines and competes for the same agency acquisition targets.
• The Hilb Group: The Hilb Group is a middle-market insurance and HR brokerage that acquires and integrates regional agencies, directly comparable to the World Insurance rollup model that absorbed Maximum Benefit. It places commercial, personal, and benefits lines across multiple U.S. regions.
• Alera Group: Alera Group is a national insurance and wealth management firm formed through the merger of multiple independent agencies, operating under a similar rollup model as World Insurance Associates. It places commercial, personal, and employee benefits lines across U.S. regional offices.
• AssuredPartners: AssuredPartners is a national insurance brokerage built through the acquisition and integration of independent agencies, similar to World Insurance's rollup strategy. It distributes personal and commercial lines through regional offices and competes for the same agency acquisition pipeline as Maximum Benefit's parent.
• NFP (an Aon company): NFP is a national insurance brokerage and consulting firm distributing commercial, personal, and benefits products, recently acquired by Aon. It is comparable as a diversified multi-line brokerage aggregator that integrates independent agency books of business.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xtwitter.com/worldinsur
• Facebookfacebook.com/worldinsur
• LinkedInlinkedin.com/company/maximum-benefit-insurance-agency
• Instagraminstagram.com/worldinsuranceassociates

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Maximum Benefit Insurance Agency