US AI-Driven Insurance Acquisitions Grow: Mile Auto Buys Insurance House, AGI Raises $70M

Mile Auto, an Atlanta‑based artificial‑intelligence MGA, announced it will acquire Insurance House, Inc. effective July 1, 2026. The combined entity will serve more than 55,000 policyholders and 1,600 independent agencies across ten states, generating nearly $100 million in annual premium. Mile Auto contributes patented computer‑vision and AI technology for mileage‑based, privacy‑focused auto insurance, while Insurance House adds 62 years of MGA expertise and its relationship with carrier Southern General Insurance.

Separately, American Growth Insurance (AGI) secured almost $70 million in equity financing to purchase struggling independent insurance firms and convert them into AI‑native operations. AGI aims to address a looming talent shortage—about 40 % of U.S. agents are within ten years of retirement—by automating back‑office functions while preserving human service. After an initial acquisition and partnerships with ten agencies that lifted profits by roughly 50 %, the firm plans further purchases and targets $10 million in annual revenue by year‑end. Funding was led by venture studio Atomic and private‑equity firm Rockbridge Growth.