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MGT

Category: AI in Fintech

An AI-native neo-insurer providing automated, full-stack commercial insurance solutions specifically designed for small businesses and artisan contractors. MGT was founded in 2022. The company is led by Michael Topol & Graham Topol. Based in San Francisco, USA. Team size: 101-500. Total funding raised: $21.6M. Latest round: Series B ($21.6M, Oct 2025). Key investors include Mubadala Capital, Clocktower Ventures, Riviera Capital, Tacora Capital.

Founded
2022
Headquarters
San Francisco, USA
Team size
101-500
Total funding
$21.6M

Value proposition

Reduces the complexity of commercial insurance by using AI-driven underwriting to provide instant, accurate quotes and specialized coverage that traditional carriers often overlook.

Products and solutions

Artisan Contractor Business Owner’s Package (BOP), Small Commercial General Liability, AI-Native Underwriting Engine, Digital Policy Management Portal

Unique value

Unlike MGAs that sit on top of old tech, MGT is a 'vertically AI-native' full-stack carrier, owning the entire insurance stack from the balance sheet to the underwriting algorithms.

Target customer

Small business owners, independent artisan contractors (e.g., plumbers, electricians, HVAC), and insurance brokers serving the SMB market.

Industries served

Insurtech, Construction & Trades, Small and Medium-sized Businesses (SMB), Commercial Real Estate

Technology advantage

Leverages proprietary AI models to automate the insurance lifecycle, enabling an A- (Excellent) AM Best rating through superior risk selection and operational efficiency compared to legacy insurers.

How they differentiate

MGT differentiates as a 'vertically AI-native' full-stack carrier rather than just an MGA. By owning the insurance license and balance sheet (via the acquisition of CM Select), MGT uses proprietary AI to automate the entire underwriting lifecycle, specifically targeting complex artisan trades that legacy insurers often misprice or avoid.

Main competitors

Next Insurance, Coterie Insurance, Pie Insurance

Key partnerships

Mubadala Capital (Series B Lead), Church Mutual (Strategic acquisition of CM Select Insurance Company), AM Best (Financial strength rating partner), Clocktower Ventures & Tacora Capital (Strategic investors), Amwins (Strategic partnership to modernize E&S underwriting, Feb 2026)

Notable customers

Independent Artisan Contractors, Plumbing & HVAC Businesses, Electrical Contractors, Small Commercial Construction Firms

Major milestones

Acquired CM Select Insurance Company from Church Mutual to become a full-stack carrier (2025), Achieved A- (Excellent) Financial Strength Rating from AM Best (2025), Closed $21.6M oversubscribed Series B funding round led by Mubadala Capital (Oct 2025), Launched specialized Artisan Contractor Business Owner's Package (BOP) (Jan 2026), Partnered with Amwins to modernize E&S underwriting (Feb 2026), Garrett Koehn joined as Senior Advisor (Mar 2026)

Growth metrics

Achieved an A- (Excellent) Financial Strength Rating from AM Best within its first year of full-stack operations; transitioned from MGA to full-stack carrier through strategic acquisition.

Market positioning

Full-stack AI neo-insurer for the SMB commercial P&C market.

Geographic focus

United States (National coverage via licensed carrier acquisition)

Patents and IP

Proprietary AI-driven underwriting logic and automated risk assessment frameworks (no public patent filings disclosed).

About Michael Topol & Graham Topol

Michael Topol was an early leader at Collective Health (a $1.5B+ insurtech) and worked in investment banking at Morgan Stanley. Graham Topol previously held roles at Newfront Insurance, FTV Capital, and Morgan Stanley as an M&A analyst.

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