Insurtech American Growth Insurance (AGI Holdings), a tech-forward insurance brokerage growth platform, raised $70 mn dunding led by Atomic and Rockbridge Growth Equity in committed equity capital to rebuild how independent insurance agencies operate in the U.S.
A large share of the new capital will fund additional acquisitions. AGI expects to close several more deals in the coming months and is targeting $10 mn in annual revenue by the end of the year.
The pairing gives AGI access to startup-building experience and M&A execution. “An insurance broker built by brokers, in partnership with leading private equity and venture capital partners looking to better embed growth and technology in the industry”, CEO Brian Morgan said.
“We’re an insurance brokerage at our core, led by people who’ve spent their careers placing coverage, running agencies, and sitting across the table from clients. Now we pair that experience with next-generation technology that helps them focus on what’s too often been lost in this industry: the client”.
Rockbridge partner Tony Pulice said AGI aims to help smaller brokers use technology without weakening the high-touch service customers expect. He said Rockbridge has used related operating models in other industries and sees a roadmap for AGI in insurance distribution.
AGI model looks closer to a buy-and-rebuild strategy: find independent agencies and brokerages under pressure, acquire them, then rework their operations around automation and AI agents.
The company says it has developed an AI-first operating system for insurance processes at scale. AGI wants to apply it inside the businesses it owns.
The target is a group of smaller insurance firms with solid customer relationships, but limited operating capacity and growing staffing pressure.
The end goal is to turn acquired firms into AI-native insurance businesses. In AGI’s view, autonomous agents should handle more of the administrative work, policy servicing and back-office activity, while human teams keep the client-facing relationships.
AGI estimates that 40% of U.S. insurance agents now sit within 10 years of retirement. Many firms already struggle to replace experienced staff, and that shortage limits growth for agencies built around hiring more producers and service teams.
Larger insurance groups relied on two familiar growth routes. Some added staff and expanded books of business through hiring. Others bought smaller agencies, cut costs and later sold those assets at higher multiples. AGI argues both routes look weaker as the talent gap widens.
The company wants to keep a human service model for customers, but automate much of the work behind it. That structure, AGI says, lets agencies serve larger books of business without adding the same number of licensed agents or support staff.
CEO Brian Morgan said many agencies understand AI matters, but lack a practical route to deployment. In his view, acquisition gives AGI control over the operating model, the data flows and the workflow changes needed to make automation useful rather than cosmetic.
AGI buys strong agencies and rebuilds the work around them so existing teams serve larger books without damaging customer relationships. That is the commercial pitch: preserve the trust, strip out the drag.
Brian Morgan, CEO of AGI Holdings
AGI says it has already tested the model before moving deeper into acquisitions. Although the company has completed only its first acquisition, it spent the past year working with 10 partner agencies to build and test its operating system.
Brian Morgan has spent more than 30 years in insurance brokerage, across public, private-equity-backed, and top-100 firms, with prior leadership roles at Keystone Agency Partners, Integro Insurance Brokers, The Plexus Groupe, Willis, and Marsh.
Having built and operated firms at every scale, he has seen first-hand how much the largest brokers gain from resources that local agencies rarely have. That gap is the reason for American Growth Insurance, and the vision he leads today: empowering local agencies to become scaled regional brokerages, with the technology, capital, and support to grow without losing what made them great.
