American Growth Insurance (AGI) has launched an AI-enabled platform designed to help insurance brokerages accelerate growth and improve operational performance, supported by nearly $70 million in funding from Rockbridge Growth Equity and venture capital firm Atomic.

The Atlanta-based company said its platform combines artificial intelligence with an operating model developed specifically for insurance agencies, with plans to complete several agency acquisitions before the end of 2026.

AI platform developed with agency partners

AGI is led by Chief Executive Officer Brian Morgan, formerly Chief Revenue Officer at Keystone Agency Partners, who brings more than 30 years of experience in building insurance brokerages.

According to the company, its leadership team spent the past year working alongside 10 insurance agencies to develop and test the AI-powered operating model.

AGI said participating agencies achieved average profit improvements of more than 50%, driven by increased revenue and productivity.

Supporting brokerage growth

The company said the platform is intended to help independent agencies compete more effectively in a market where larger brokerages continue to dominate growth.

Citing research from MarshBerry, AGI noted that the 50 largest insurance brokerage firms account for 96% of total U.S. brokerage revenue, while firms ranked between 50 and 100 account for the remaining 4%.

The research also found that firms ranked between 50 and 100 recorded an average five-year compound annual growth rate of 7.1%, less than half the growth rate achieved by the industry’s 50 largest firms.

AGI said its platform is designed to help partner agencies improve growth through AI-enabled operational efficiencies.

Investment strategy

The company’s launch is supported by funding from Rockbridge Growth Equity and Atomic, which together have committed nearly $70 million to the business.

Michael Stenclik, Vice President at Atomic, said the venture capital firm evaluated approximately 1,000 service industries before identifying insurance distribution as a sector with significant opportunities for AI-driven transformation.

He said the insurance agency model is well suited to being reshaped through artificial intelligence.

Private equity debate continues

AGI’s launch comes amid continuing debate over the role of private equity in the insurance sector and wider economy.

Recent academic research has highlighted concerns that private equity ownership can place increased emphasis on financial returns, potentially affecting employment, long-term investment and broader stakeholder interests.

Researchers from the University of Chicago Law School recently wrote that private equity funds now control more than $9 trillion in assets across thousands of companies, arguing that while the investment model remains an important source of capital, it can also increase financial risk when external costs are not adequately recognised.

AGI said its focus remains on using AI and operational improvements to help partner agencies achieve faster and more sustainable growth.