MGT Insurance, a U.S.-based insurtech founded by Michael Topol and Graham Topol, has secured $21.6 million in Series B funding to modernize how brokers quote and bind commercial insurance.

The round was led by Mubadala Capital, with participation from Clocktower Ventures, Tacora Capital, and existing investors  -  a mix of strategic backers doubling down on the company’s mission to make business insurance fully digital, data-driven, and instantaneous.

MGT’s platform allows brokers to quote, underwrite, and issue commercial policies in minutes, replacing legacy carrier workflows that once took hours or days.

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Solving the Slowest Problem in Commercial Coverage

For decades, small-business insurance has been synonymous with inefficiency. Brokers juggle emails, PDFs, and manual entry across fragmented carrier portals.

MGT Insurance eliminates those friction points through an AI-driven underwriting engine that automates risk assessment using real-time business data. By tapping into public filings, payroll databases, and credit models, the system instantly generates accurate quotes and compliant coverage options.

The result is an experience that feels closer to FinTech than legacy insurance  -  a transformation that reflects what experts call the digital underwriting revolution.

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Investors See the Data Advantage

“MGT isn’t just digitizing the process,” said one investor close to the round. “They’re rebuilding the foundation of commercial risk data.”

That distinction explains why institutional investors like Mubadala and Clocktower Ventures are stepping deeper into insurtech. Mubadala’s portfolio includes global finance disruptors, while Clocktower Ventures has backed several data-infrastructure plays within financial services.

Their shared thesis: the next trillion-dollar opportunities in insurance won’t come from new products, but from faster data movement.

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A Market Poised for Intelligent Automation

The global commercial-insurance market reached $830 billion in written premiums in 2024, and is projected to surpass $1 trillion by 2028 (Allied Market Research 2025).

However, the underlying workflows remain largely analog. A 2025 McKinsey report found that more than 70 percent of commercial lines underwriters still rely on spreadsheets and manual data entry.

At the same time, AI adoption in insurance is accelerating at 26 percent CAGR, with automation expected to reduce average policy-processing time from 2.5 hours to 15 minutes by 2027 (Accenture Financial Services Outlook 2025).

MGT sits squarely at this intersection  -  where efficiency meets underwriting accuracy.

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The Deeper Lesson: Where the Real Leverage Lies

Beyond its funding milestone, MGT’s story carries a powerful insight for founders in any data-heavy industry.

The company didn’t start by chasing every vertical. It focused narrowly on one broken process  -  commercial-policy binding  -  and perfected the invisible infrastructure behind it.

That choice reveals a bigger truth:

Speed is not about doing more at once; it’s about removing the friction that slows everyone down.

In B2B environments, real innovation isn’t always visible to customers. It’s in how seamlessly information flows between stakeholders. MGT’s competitive edge comes not from flashy design, but from time compression  -  turning a multi-day process into minutes.

When you design for time elimination rather than feature expansion, you turn process into profit. Every friction point removed compounds value across the ecosystem  -  for brokers, carriers, and clients alike.

This mindset  -  building for flow, not noise  -  is what separates scalable platforms from tools that plateau.

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Automation and the Insurance Outlook

According to PwC’s 2025 Global Insurtech Report, automation could generate $350 billion in cost savings across underwriting, claims, and compliance by 2030.

Additionally, AI-driven risk modeling is forecast to cut loss-ratio volatility by up to 15 percent, while embedded-insurance partnerships will account for $480 billion in annual premiums by 2032 (Deloitte Insurance Innovation Review 2025).

In this context, MGT’s model isn’t just digitizing insurance  -  it’s creating a data pipeline that scales underwriting capacity without increasing headcount.

The platform’s early traction among independent brokers shows that automation, once viewed as a threat, is now an enabler  -  freeing humans to focus on client strategy instead of compliance.

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How MGT Plans to Use Its Series B Funding

With fresh capital in hand, MGT Insurance plans to:

• Expand its underwriting capacity across key commercial-lines segments, including property, general liability, and BOP policies.
  
• Invest in AI risk-scoring models that pull from alternative datasets  -  credit behavior, supplier history, and regional weather data  -  to improve pricing precision.
  
• Grow partnerships with carrier networks and insurtech API providers to make MGT’s system plug-and-play across the industry.
  
• Launch new broker-facing tools, enabling white-label quoting experiences for agencies nationwide.
  

According to CEO Michael Topol, the company’s long-term goal is to “make underwriting invisible  -  a background process that simply happens as you serve the client.”

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Why This Round Matters for Insurtech

The insurtech landscape has shifted from exuberant experimentation to disciplined infrastructure building.
While consumer-facing players once dominated funding rounds, 2025 marks a clear pivot toward B2B enablement platforms like MGT Insurance.

Venture capital in insurtech totaled $7.9 billion in 2024, with 62 percent flowing into automation and data-infrastructure companies (CB Insights Insurtech Pulse 2025).

That focus reflects investor preference for measurable ROI and workflow efficiency over brand visibility  -  precisely the arena where MGT excels.

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What’s Next

As the Series B funding fuels product expansion, MGT aims to become the go-to underwriting backbone for independent brokers across the U.S. and, eventually, global markets.

The company’s success story reinforces a clear message for the new generation of founders:
Innovation that saves others time will always outlast innovation that seeks their attention.

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