The expansion aims to broaden the company’s reach and offer more flexible insurance solutions to the 35 million small businesses across the United States.
MGT Specialty will focus on addressing the unique and often challenging insurance needs of businesses that are difficult to place in the standard market. The company will leverage its AI-driven platform to develop customized solutions for a wider range of risks.
To lead this new venture, MGT Insurance has appointed Chad Nitschke as General Manager. Nitschke brings extensive experience in the insurance industry, having previously served as SVP, Digital Strategy & Execution at Hiscox. He also played a key role in the development of Vouch Specialty and founded and led the commercial insurance startup Bunker.
The expansion marks a significant milestone for MGT Insurance as it continues to innovate and provide comprehensive insurance coverage to meet the evolving needs of the small business market.
Graham Topol, Co-CEO and Co-Founder of MGT Insurance, commented, saying: “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’re creating new opportunities to serve entrepreneurs and business owners across America.”
Chad Nitschke added: “I’m 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.”