SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Merchants Benefit Administration, Inc. (“MBA”) (mbaadmin.com), a third-party administrator in the insurance industry, announces that the firm is under new parent company ownership - J.A.K. Global Holdings, LLC. (“JAK”), replacing AIM Corp. JAK is led by founding member Michael D. Brady, who has held the position of managing member since October 2016. Lynn Doran, also a member of the MBA executive team, became a managing member and stock holder of JAK as of April 1, 2018. The MBA stock purchase from AIM Corp. was effective March 1, 2018.
New position announcements at MBA include CEO Michael D. Brady, President Lynn Doran, Controller and EVP Roy Garrett, and Vice President of Administration Laura Genzer. Brady began working for AIM Corp. in 1991. For almost two decades, Brady has been instrumental in the expansion of MBA including its administration abilities and insurance expertise. Doran, who served as a key leader since joining MBA in 2011, has brought many years of industry knowledge and operations background to the company during a crucial turning point as MBA was transitioning back their administrative operations. Lynn was a key leader in the development and transition that has transformed MBA to the innovative and successful company they are today. Together, Brady and Doran plan to be at the forefront of the industry, combining their talents to grow and expand MBA as they move into the future.
“The transition of ownership has been seamless and will move us toward achieving our goal – shaping the future with innovative solutions in the insurance and administrative industry,” says Brady. “Strategic partnerships are an integral part of the plan for growth at MBA, and transition in ownership is key to opening those doors.”
Key strategic partnerships will include carriers and distribution centers to capitalize on new marketplace expansion, risk and profit sharing as well as extending the company’s marketing reach. Innovation through technology is also part of the company’s future plans, offering smart, consumer-centric online platforms to help enable business partners. Other plans include leveraging the expansion of Pharmacy Benefit Managers as well as the purchase of insurance company paper.
“Our plan for MBA is to become the world leader in innovative insurance and administrative solutions,” says Brady. “We are now strategically positioned to see this vision come to life.”
About MBA, Inc.
Merchants Benefit Administration, Inc. (mbaadmin.com), is a privately-held company headquartered in Scottsdale, Ariz. MBA is a third-party administrator. For over 20 years, MBA has been shaping the future with innovative solutions within the insurance and administrative industry.