AI-driven industrial neo-insurer MGT Insurance coverage has launched MGT Specialty, a brand new extra and surplus strains (E&S) firm aimed toward rising the attain of insurance coverage options for small companies throughout the US.
The launch is a part of MGT’s plans to serve new markets and “underserved” prospects, notably within the realm of “hard-to-place dangers”.
MGT Specialty goals to supply customised options that cater to the wants of small enterprise house owners and their brokers.
The corporate’s give attention to expertise and knowledge is predicted to reinforce its capability to service the E&S market successfully.
Along with the launch of MGT Specialty, Chad Nitschke was appointed as normal supervisor to guide the enterprise.
Nitschke’s expertise features a latest position as SVP of digital technique & execution at worldwide insurer Hiscox, the place he managed the digital companion enterprise.
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He has additionally led and constructed Vouch Specialty and was the founder and CEO of insurtech firm Bunker.
Nitschke’s background consists of positions at Vacationers, Axis and CUNA Mutual, giving him an understanding of underwriting and conventional insurance coverage markets.
Commenting on the brand new position, Nitschke stated: “I’m thrilled to hitch MGT and lead the launch of MGT Specialty. The E&S market represents an incredible alternative to ship versatile, data-driven options that seize important market alternatives.
“I stay up for working with our dealer companions to advance MGT’s mission of serving the small companies that energy our financial system.”
MGT is an AI-driven neo-insurer that focuses on modernising industrial property and casualty insurance coverage by way of expertise and processes.
MGT Insurance coverage co-CEO and co-founder Graham Topol added: “The launch of MGT Specialty is a pivotal second in our journey to insure small companies. Now we have been engaged on this for a while and are happy to lastly deliver it to gentle. Chad’s unparalleled experience and imaginative and prescient make him the perfect chief to drive this effort. Collectively, we’re creating new alternatives to serve entrepreneurs and enterprise house owners throughout America.”
