# MGT Insurance

> MGT Insurance is a vertically AI-native neo-insurer rebuilding commercial property and casualty insurance for the roughly 35 million small businesses in the United States and the brokers who serve them. Founded in 2022 by brothers Graham and Michael Topol, MGT owns the full stack - intake, underwriting, distribution, policy delivery and servicing - on a modern technology platform, letting agents quote and often bind Business Owner Policies in minutes rather than days or weeks. The company writes BOP in 42-plus states and D.C., serves nearly 30,000 customers, holds an A- (Excellent) rating from AM Best, and closed an oversubscribed $21.6M Series B in October 2025 led by Mubadala Capital.

- **Founded:** 2022
- **Headquarters:** San Francisco, California, United States
- **Founders:** Michael Topol (Co-Founder & Co-CEO), Graham Topol (Co-Founder & Co-CEO)
- **Team size:** ~90 employees
- **Products:** Small Commercial Business Owners Policies (BOP), Data-driven underwriting platform, Appetite & broker tools, Lessor's Risk Only (LRO) - E&S, Religious / nonprofit coverage
- **Notable:** Built what it calls the world's first vertically AI-native neo-insurer (founded 2022)., Reached profitability before its second anniversary., Earned an A- (Excellent) financial strength rating from AM Best as a young carrier.

## Products & services

- **Small Commercial Business Owners Policies (BOP)** — AI-native digital underwriting for small business owner policies, letting brokers quote and often bind coverage in under 10 minutes across 42+ states and D.C.
- **Data-driven underwriting platform** — A full-stack platform that owns intake to issuance - data ingestion, risk assessment, pricing, policy delivery and servicing - built from scratch on a modern tech stack.
- **Appetite & broker tools** — Appetite guide, coverage maps, real-time guidance and an 'appetite agent' that help brokers find eligible classes and states quickly.
- **Lessor's Risk Only (LRO) - E&S** — MGT's first Excess & Surplus product, offering fast AI-driven underwriting decisions for small commercial risks, distributed through Amwins.
- **Religious / nonprofit coverage** — Specialty coverage classes serving religious organizations and nonprofits.

## Achievements

- Built what it calls the world's first vertically AI-native neo-insurer (founded 2022).
- Reached profitability before its second anniversary.
- Earned an A- (Excellent) financial strength rating from AM Best as a young carrier.
- Grew to nearly 30,000 customers and writes BOP in 42+ states and D.C.
- Closed an oversubscribed $21.6M Series B led by Mubadala Capital (Oct 2025).
- Reported ~$3M ARR per employee.
- Partnered with Amwins to enter the E&S market (Feb 2026).

## Latest updates

- **2026-02** — Announced partnership with Amwins to bring MGT's AI-driven underwriting to the Excess & Surplus market, launching with its Lessor's Risk Only (LRO) product.
- **2025-10** — Closed an oversubscribed $21.6M Series B led by Mubadala Capital, with Clocktower Ventures and Tacora Capital, to fund R&D, deepen vertical AI and expand E&S nationwide.

## Links

- Website: https://www.mgtinsurance.com
- LinkedIn: https://www.linkedin.com/company/mgtinsurance

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Profile page: https://yespress.io/mgt-insurance
Published by YesPress — https://yespress.io
Last updated: 2026-06-13