MGT Insurance Launches MGT Specialty, Appoints Chad Nitschke as General Manager
AI-Driven Insurer Expands with Specialty Division to Serve Small Businesses
MGT Insurance, an innovative AI-driven neo-insurer, has officially launched MGT Specialty, a new excess and surplus (E&S) lines company designed to meet the needs of the 35 million small businesses across the United States.
“The launch of MGT Specialty marks a significant milestone in our mission to insure small businesses,” said Graham Topol, co-CEO and co-founder of MGT Insurance, in a press release. “We’ve been working on this initiative for some time, and we’re excited to bring it to fruition.”
In conjunction with the launch, MGT Insurance has appointed Chad Nitschke as the general manager of MGT Specialty. Nitschke is a seasoned industry professional with vast experience in both traditional insurance and insurtech. He previously held the role of Senior Vice President of Digital Strategy and Execution at Hiscox and also held founding positions at Vouch Specialty and Bunker.
“Chad’s unparalleled expertise and strategic vision make him the perfect leader to drive this initiative,” Topol said. “We’re excited to work alongside him to create new opportunities for entrepreneurs and business owners across the country
Nitschke shared his excitement about the new venture: “The E&S market presents a huge opportunity to deliver flexible, data-driven solutions that can effectively address underserved segments and complex risks. I look forward to collaborating with our broker partners to further MGT’s mission of supporting the small businesses that drive the U.S. economy.”
In 2024, the E&S market saw over $95 billion in premiums, experiencing a robust year-over-year growth rate of 11%. This rapid expansion presents a prime opportunity for MGT Specialty to offer customized insurance solutions that address harder-to-place risks in the market.
