MGT, an AI-native neo-insurer writing commercial property and casualty cover for small businesses, has entered the California market. The expansion comes as traditional carriers pull back from the state, pushing more businesses toward the state's insurer of last resort - California's FAIR Plan held 697,000 policies as of June 2026, representing $768 billion in total exposure across dwelling and commercial lines.
California accounts for 14% of the domestic small-business insurance market. For agents and brokers, the carrier's arrival means a new admitted market option in a state where coverage availability has tightened considerably.
How the underwriting model differs
MGT's approach relies on AI-driven risk assessment that evaluates individual commercial properties rather than withdrawing from entire ZIP codes. The company feeds property characteristics, geospatial data, and wildfire modeling into its underwriting engine to decide which accounts to write. This granularity matters in a state where wildfire exposure has driven broad non-renewals from legacy carriers.
The company said its technology evaluates complex risk data at a fraction of the typical cost. Lower assessment costs, according to MGT, support underwriting in markets where traditional carriers face higher operating expenses and older technology systems. For producers, that can translate into faster quotes on risks that might otherwise get declined outright.
Distribution and platform details
MGT's products will be available through its digital platform and appointed agent network. The launch pushes the insurer's footprint to 43 states plus Washington, D.C. The company operates across both admitted and excess and surplus lines and carries an "A-" financial strength rating from AM Best.
To support the California rollout, MGT is providing agents with tailored materials and weekly webinars focused on coverage options and risk management. The company's technology stack spans the full insurance lifecycle - from collecting risk information through policy issuance - with the aim of compressing a process that previously took weeks into minutes.
What leadership is saying
MGT co-founder and co-CEO Graham Topol said, "Small businesses are the backbone of the U.S. economy and help keep the American Dream alive. Given that California represents 14% of the domestic market, it is essential to the success of our mission to insure America's small businesses."
Topol added that the company's technology, admitted paper, and AM Best rating allow it to "step in as a reliable partner where legacy carriers won't or can't provide coverage."
VP of revenue Jack Ramsey addressed the producer experience directly: "California agents have spent too long navigating legacy hurdles and cumbersome underwriting. We're finally flipping the script, giving our agency partners the speed, reliability, and modern tech they need to move as fast as their clients do."
Why this matters for sales producers
Every non-renewal or pullback from a standard carrier creates a conversation with a business owner who needs a replacement policy. MGT's California entry gives agents an admitted option with an A- rating and a digital quoting process built to return decisions quickly. The carrier is actively running webinars and distributing materials - producers who engage early can position themselves as the first call for small-business clients losing coverage from legacy insurers. For teams looking to sharpen their technical edge in this shifting market, AI for Insurance courses offer practical grounding in the tools reshaping underwriting and distribution.
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