MGT Specialty aims to provide customised solutions that cater to the needs of small business owners and their brokers. Credit: Poca Wander Stock/Shutterstock.

AI-driven commercial neo-insurer MGT Insurance has launched MGT Specialty, a new excess and surplus lines (E&S) company aimed at increasing the reach of insurance solutions for small businesses across the US.  

The launch is part of MGT’s plans to serve new markets and “underserved” customers, particularly in the realm of “hard-to-place risks”. 

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MGT Specialty aims to offer customised solutions that cater to the needs of small business owners and their brokers.  

The company’s focus on technology and data is expected to enhance its ability to service the E&S market effectively.  

In conjunction with the launch of MGT Specialty, Chad Nitschke was appointed as general manager to lead the business. 

Nitschke’s experience includes a recent role as SVP of digital strategy & execution at international insurer Hiscox, where he managed the digital partner business.  

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He has also led and built Vouch Specialty and was the founder and CEO of insurtech company Bunker.  

Nitschke’s background includes positions at Travelers, Axis and CUNA Mutual, giving him an understanding of underwriting and traditional insurance markets. 

Commenting on the new role, Nitschke said: “I am thrilled to join MGT and lead the launch of MGT Specialty. The E&S market represents a tremendous opportunity to deliver flexible, data-driven solutions that capture significant market opportunities.  

“I look forward to working with our broker partners to advance MGT’s mission of serving the small businesses that power our economy.” 

MGT is an AI-driven neo-insurer that focuses on modernising commercial property and casualty insurance through technology and processes. 

MGT Insurance co-CEO and co-founder Graham Topol added: “The launch of MGT Specialty is a pivotal moment in our journey to insure small businesses. We have been working on this for some time and are pleased to finally bring it to light. Chad’s unparalleled expertise and vision make him the ideal leader to drive this effort. Together, we are creating new opportunities to serve entrepreneurs and business owners across America.”