MGT Insurance
Category: AI in Fintech
An AI-native neo-insurer focused on modernizing commercial P&C insurance for small businesses and their agents MGT Insurance was founded in 2022. The company is led by Michael Topol & Graham Topol. Based in San Francisco, California, USA. Team size: 11-50. Total funding raised: $63.2M. Latest round: Series B. Key investors include Mubadala Capital, Clocktower Ventures, Tacora Capital.
- Founded
- 2022
- Headquarters
- San Francisco, California, USA
- Team size
- 11-50
- Total funding
- $63.2M
Value proposition
Delivers smarter, faster, and more accessible insurance coverage for small businesses through a vertically integrated, AI-native platform that streams underwriting and claims
Products and solutions
Commercial Property and Casualty (P&C) Insurance, Business Owner's Policy (BOP), MGT Specialty (Excess & Surplus lines for hard-to-place risks)
Unique value
MGT is the first vertically AI-native neo-insurer, building its entire technology stack from the ground up with AI at its core, allowing for greater efficiency and scalability compared to legacy insurers
Target customer
Small businesses and the agents/brokers who serve them
Industries served
Underserved and specialty markets, Various small business sectors, Commercial P&C insurance
Technology advantage
AI-driven platform streamlines and automates the entire insurance lifecycle, from quoting and underwriting to claims processing, resulting in faster decision-making, personalized coverage options, and improved efficiency
How they differentiate
MGT differentiates itself by being a vertically integrated, AI-native neo-insurer focused on modernizing commercial P&C insurance for small businesses and their agents, leveraging technology to streamline processes and improve the insurance experience
Main competitors
Agentero, Wefox, Counterpart
Key partnerships
Mubadala Capital (lead investor), Clocktower Ventures, Tacora Capital, Church Mutual (via acquisition of CM Select)
Notable customers
Information not publicly available
Major milestones
Closed an oversubscribed $21.6 million Series B funding round in October 2025, Launched MGT Specialty, a new surplus lines (E&S) company, Acquired CM Select Insurance Company, Obtained an A- (Excellent) Financial Strength Rating from AM Best, Added senior leaders from Google and high-growth tech startups in December 2025
Growth metrics
As a private company, MGT Insurance does not disclose specific growth metrics
Market positioning
Positioned as a technology-driven insurance provider for the small business sector, aiming to disrupt the traditional commercial P&C market with its AI-powered platform
Geographic focus
United States
Patents and IP
Information not publicly available
About Michael Topol & Graham Topol
Michael Topol was a Principal at Stone Point Capital and started as an investment banking analyst at Goldman Sachs. Graham Topol was a Vice President at Stone Point Capital and previously worked in investment banking at Evercore and FTV Capital.
Official website: https://www.mgtinsurance.com/