Global InsurTech Report Q2 2025: The Role of AI in Property (Gallagher Re)

Summary

• Global InsurTech funding declined 16.7% quarter on quarter to USD1.09B in Q2'25.p.8
• US InsurTech deal share increased to 60.4%, a nine-year high, and 57.1% of Q2'25 deals went to AI-centered companies.p.8
• 33 of the 91 InsurTech deals in Q2'25 went to property-focused InsurTechs, which raised USD191.12M.p.9
• Cumulatively, property-focused InsurTechs have raised USD12.88B across 909 deals since 2012.p.9
• Early-stage dealmaking fell 15.7% quarter on quarter to 43, while the average early-stage deal size spiked 66.5% to USD6.18M.p.9

Key insights

1. It took five years to raise the first USD10 billion, then two years for the next 10 billion, and 20 billion in one and a half years at the peak.p.6
2. 20 of the 33 property-focused deals raised USD5M or less, and Steadily raised the largest, a USD30M Series C round.p.9
3. Q2'25 saw 31 tech investments from (re)insurers, of which just 9.7% were seed-stage, and the share of Series B deals reached a record 41.9%.p.9
4. AI-centered InsurTechs raised USD582.72M in funding in Q2'25.p.9
5. France and the United Kingdom accounted for 6.6% and 5.5% of Q2'25 global InsurTech deals respectively.p.9