MGT, an AI-native neo-insurer, has launched an Artisan Contractor Business Owner's Package bundling general liability and property protection for small specialty contractors including plumbers, electricians and painters. The AI-powered platform enables insurance agents to quote and bind coverage in under three minutes. The product targets contractors focused on service, repair and standard installation work, with policies starting at $750 annually. It provides instant Certificates of Insurance, which contractors need to begin jobs, and protects tools, equipment and business operations under a single policy. The launch follows MGT's $21.6 million Series B funding in 2025 and recent senior appointments. The company aims to modernise commercial property and casualty insurance for small businesses using its vertically integrated AI platform. MGT Insurance holds an "A-" AM Best rating.

MGT Insurance raised $21.6 million in a Series B round led by Mubadala Capital, with participation from Clocktower Ventures, Tacora Capital, and existing investors. The funding will enhance R&D, AI capabilities, and expand Excess & Surplus growth nationwide. MGT, serving nearly 30,000 customers, achieved profitability before its second anniversary and claims $3 million in annual recurring revenue per employee. Co-CEOs Michael and Graham Topol emphasize the impact of AI and technology in transforming the insurance industry.