Millennial Specialty Insurance

Name

Millennial Specialty Insurance

Legal name

Millennial Specialty Insurance, LLC

Website

https://msimga.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Specialty Insurance (Managing General Agency)

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Specialty insurance
• Managing general agency
• Habitational insurance
• Cyber liability insurance
• Alternative risk solutions

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premium Revenue: MSI generates revenue by underwriting and administering insurance policies, collecting premiums from policyholders, and retaining a portion while ceding reinsurance. As an MGA, the company earns underwriting profit and administrative fees while reinsurance partners provide capacity.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Millennial Specialty Insurance (MSI) is a managing general agency (MGA) that underwrites, distributes, and administers more than 20 specialty insurance products across personal lines (renters, homeowners, flood), commercial lines (habitational property, general liability, cyber, umbrella, workers comp), professional lines (D&O, EPL, fiduciary, contract frustration), and alternative risks (canine liability, tenant legal liability, captive solutions). MSI leverages a proprietary digital-first platform with API integrations to proptech systems to deliver embedded insurance through independent agents, brokers, and direct-to-consumer channels.

Product overview

MSI (Millennial Specialty Insurance) is a managing general agency (MGA) offering more than 20 insurance products and solutions across personal, commercial, professional lines, and alternative risks. The company operates as a platform distributing coverage through agents, brokers, insurers, reinsurers, and technology partners. Personal insurance includes Coastal Homeowners, E&S Homeowners, Flood, High Net Worth Homeowners, New Construction Homeowners, and Renters. Commercial insurance spans Commercial General Liability, Commercial Package, Cyber, Environmental Impairment Liability, Commercial Flood, Habitational Property, Real Estate Investors, Umbrella, and Workers Compensation. Professional Lines covers Contract Frustration, Crime Insurance, Directors & Officers Liability, Employment Practices Liability, and Fiduciary Liability. Alternative Risks include Canine Liability, Captive Solutions, and Tenant Legal Liability. MSI collaborates with insurers including Woodridge Insurance Company, Cypress Property and Casualty, Century-National Insurance Company, Fortegra, Spinnaker Insurance Company, and Trisura Insurance Company. The company was founded in 2015, joined The Baldwin Group in 2019, and achieved $1 billion in in-force premium as of 2024.

Differentiator

Problem solved

Functional benefit

Products and services

• Renters Insurance Digital renters insurance offered through proptech, fintech and other digital agents, providing valuable coverage for renters.
• Coastal Homeowners Insurance Home insurance for customers in underserved, catastrophe-exposed states along the Atlantic and Gulf coasts, distributed through independent agents.
• E&S Homeowners Insurance Excess and surplus lines homeowners coverage allowing agents to write coverage for homes across a wide range of values in every state.
• Personal Flood Insurance Personal flood insurance providing technology tools to help homeowners protect against the most common cause of property loss, with coverage taking effect one week from purchase date.
• High Net Worth Homeowners Insurance Specialized coverage solutions for high-value homes with a superior technology platform for agents to write them, developed in collaboration with MS Transverse.
• New Construction Homeowners Insurance Insurance solution making it easy for home builders and lenders to offer homeowners insurance to buyers.
• Commercial General Liability for Habitational Properties General liability coverage protecting businesses from claims involving bodily injury and property damage, tailored for habitational property owners including apartments, condominiums, and townhomes.
• Commercial Package Policy Package policy offering community associations broad and high-limit property and liability coverage along with crime protection and additional programs.
• MSI Cyber for Managed Care Organizations Dedicated cyber insurance program for managed care organizations of all sizes, offering up to $25 million in primary and excess coverage for privacy and cyber liability with technology errors and omissions.
• Habitational Property Insurance Property risk capacity for apartments, condos, co-ops and similar residential properties, provided through partnerships with select brokers and leading insurers.
• Environmental Impairment Liability Affordable coverage solution for community associations to manage a wide range of potential pollution risks.
• Commercial Flood Insurance Commercial flood coverage enabling agents to provide commercial customers with broad protection against one of the most prevalent property risks.
• Real Estate Investors Insurance Tech-enabled specialized coverage for investors in residential properties, available through agents, lenders, and proptech firms.
• Commercial Umbrella Insurance Broad, high-limit umbrella coverage for a wide range of commercial properties.
• Workers Compensation Insurance Coverage helping employees recover from work injuries and keeping their organizations running.
• Contract Frustration Insurance Coverage protecting high-growth companies and investors in the event of a key leader's death or total disability, with up to $5 million in limits.
• Crime Insurance Crime insurance protecting organizations from financial loss caused by crime.
• Directors & Officers Liability Insurance Protection for boards and leaders against litigation for emerging companies in high-growth sectors and community associations, with up to $10 million in coverage.
• Employment Practices Liability Insurance Coverage protecting high-growth companies from employee lawsuits arising from harassment, wrongful termination, discrimination and other work-related issues, with up to $4 million.
• Fiduciary Liability Insurance Coverage protecting companies from lawsuits related to handling of employee benefit plans, with up to $4 million, offered as extension of D&O coverage.
• Standalone Canine Liability Insurance Standalone dog bite liability coverage for residential landlords and property managers, providing up to $100,000 per occurrence with breed-inclusive underwriting at $4 per unit per month.
• Captive Solutions Creation and management of captive insurance companies for businesses, with special programs for multifamily, student housing, self storage and senior care. Helps turn risk cost centers into profit centers.
• Tenant Legal Liability Insurance Tenant liability policy for property owners covering accidental, resident-caused damage from fire, smoke, explosion, water damage, sewer backup and loss of rental income, with $100,000-$300,000 per occurrence limits.
• Obie Insurance Platform Embedded insurance distribution business specializing in insurance solutions for landlords and real estate investors, serving investors through direct-to-investor digital experiences and integrated partner platforms.

Named customers1 record

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

13 partnerships are on record, tiered core and key.

• Hippo and Spinnaker Insurance CompanycoreStrategic or Co-development PartnerHippo and its affiliate Spinnaker Insurance Company provide capacity and reinsurance support for MSI's insurance programs. This partnership enables MSI to leverage Hippo's strong reinsurance backing and Spinnaker's underwriting capacity to support growth across product lines.
• ZestyAIcoreTechnology or IntegrationZestyAI provides AI-powered risk assessment for wildfire exposure. MSI expanded its partnership with ZestyAI from California to all Western Wildfire States, leveraging their property risk analytics to underwrite wildfire-exposed risks more accurately.
• ObiecoreChannel Partner/ Reseller/ DistributorMSI acquired Obie, a distribution partner that supports MSI's real estate investor program. Obie provides technology-enabled distribution for landlord and real estate investor insurance products.
• MS TransversekeyStrategic or Co-development PartnerCollaboration with MS Transverse for the High Net Worth Homeowners Program, providing specialized coverage solutions for high-value residential properties.
• Summit Commercial SolutionskeyChannel Partner/ Reseller/ DistributorCanadian distribution partner for multifamily insurance products. Summit Commercial Solutions enables MSI to distribute insurance products in the Canadian market through their established distribution network.
• Lloyd's of LondoncoreStrategic or Co-development PartnerLloyd's of London provides capacity for MSI's cyber insurance products, enabling MSI to offer cyber coverage with limits up to $25 million for Managed Care Organizations.
• eResidentkeyTechnology or IntegrationTechnology integration with eResident property management platform enabling seamless data exchange and embedded insurance distribution for residents.
• YardikeyTechnology or IntegrationIntegration with Yardi property management software, one of the leading platforms for real estate investment management and property management.
• BuildiumkeyTechnology or IntegrationIntegration with Buildium property management platform enabling technology-enabled insurance distribution for residential property managers.
• ResMankeyTechnology or IntegrationTechnology partnership with ResMan property management platform providing integrated insurance solutions for property managers and residents.
• The GuarantorskeyTechnology or IntegrationIntegration with The Guarantors platform, providing technology-enabled insurance distribution and risk management solutions.
• ePremiumkeyTechnology or IntegrationTechnology partnership with ePremium for embedded insurance solutions in the property management space.
• Akur8coreTechnology or IntegrationAkur8 provides advanced pricing and rating capabilities for MSI, enabling sophisticated risk assessment, competitive pricing optimization, and enhanced underwriting accuracy across all product lines.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Pie Insurance: Pie is a technology-driven MGA focused on small-commercial workers' compensation — directly comparable to MSI in MGA model and digital distribution, though narrower in product scope (workers' comp is one of MSI's lines).
• Hippo Insurance: Hippo is a technology-driven MGA focused on homeowners insurance with embedded partnerships and reinsurance capacity — closely matching MSI's tech-enabled MGA model and proptech distribution approach.
• Newfront Insurance: Newfront is a tech-enabled insurance brokerage and specialty distributor serving mid-market and high-growth clients, with a technology and product-led approach similar to MSI's distribution model.
• Accelerant: Accelerant is a specialty MGA platform that combines underwriting expertise with reinsurance capacity for niche commercial risks — directly comparable to MSI's role as a specialty MGA aggregating capacity for underserved risks.
• Skyward Specialty Insurance Group: Skyward Specialty is a specialty insurance platform with a multi-line, multi-channel MGA model, overlapping MSI's habitational, commercial, and professional lines focus.
• RPS (Risk Placement Services): RPS is one of the largest U.S. wholesale brokers and MGA platforms, distributing specialty insurance through agents and brokers across personal and commercial lines — a direct functional analogue to MSI.

Broad incumbents

• Burns & Wilcox: Burns & Wilcox is a large specialty insurance wholesaler distributing personal, commercial, and professional lines through agents — overlapping MSI's specialty distribution role but with broader scope.
• Palomar Holdings: Palomar is a specialty insurance carrier with diversified product lines including habitational property and catastrophe-exposed risks — overlapping MSI's specialty focus though operating as a carrier rather than an MGA.
• James River Group Holdings: James River is a specialty insurance holding company with E&S and program-administration capabilities, overlapping MSI's specialty distribution model at a broader carrier scale.

Emerging players

• Coalition: Coalition is a cyber insurance specialist with a technology-led underwriting model — overlapping with MSI's cyber-for-MCOs program and reflecting a comparable approach to specialty risk underwriting.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/msimga

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Millennial Specialty Insurance