GREENWOOD VILLAGE, Colo.--()--MGT Insurance, an AI-driven commercial neo-insurer, today announced the launch of its new surplus lines (E&S) company, MGT Specialty, extending the company’s reach and flexibility for the 35 million small businesses across the U.S. This strategic expansion underscores MGT’s commitment to serving small businesses and their brokers across America while pursuing its mission to advance the insurance industry as the first AI-enabled neo-insurer.

MGT Specialty will deliver broader reach by addressing new markets and underserved customers. It will also provide enhanced flexibility through customized solutions for unique and hard-to-place risks, ensuring innovation remains persistent and that MGT continues to service its brokers’ and small business owners’ needs.

The E&S market had more than $95 billion of premium in 2024, growing 11% YoY, serving harder to place risks. The E&S market and our focus on cutting-edge technology and data enables MGT to better serve small business owners and their brokers.

Chad Nitschke to Lead MGT Specialty

Along with the launch of its E&S company, MGT Insurance also announced the hire of industry veteran Chad Nitschke as General Manager. Nitschke brings a wealth of experience and leadership to MGT Specialty. With a distinguished career spanning several major insurance and innovative insurtech companies, Nitschke’s expertise positions MGT Specialty for continued, long-term success.

Nitschke was most recently SVP, Digital Strategy & Execution at Hiscox, a leading international insurer, where he was responsible for the digital partner business. Previous experiences include leading and building Vouch Specialty, and as the founder and CEO of Bunker, an insurtech delivering innovative solutions for small businesses. Earlier in his career, Nitschke held roles at Travelers, Axis, and CUNA Mutual, where he developed a deep understanding of underwriting and traditional insurance markets.

“The launch of MGT Specialty is a pivotal moment in our journey to insure small businesses,” said Graham Topol, Co-CEO and Co-Founder of MGT Insurance. “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.”

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.”

The addition of Nitschke to the MGT team adds to the company’s deep bench of insurance and technology professionals. To learn more about MGT and MGT Specialty, visit https://mgtinsurance.com/.

About MGT Insurance
MGT is the first AI-driven, neo-insurer focused on evolving commercial P&C insurance for the brokers and small business owners. MGT is ushering in the next evolution of commercial insurance and working to move the industry forward through the use of modern technology, better processes, and a rock-star team. We address common insurance pain points while honoring the knowledge, history, and innovation that are the hallmarks of the industry today. MGT Insurance is an “A-” AM Best rated carrier with a national presence. For more information or business development inquiries, please reach out to info@mgtinsurance.com. For media inquiries, contact mgtinsurance@calibercorporate.com.