Global InsurTech Report Q4 2025: The Role of AI in the Four Largest Insurance Business Lines (Gallagher Re)
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- Global InsurTech funding rose 19.5% year on year to USD5.08B in 2025, the first annual increase since 2021.p.8
- P&C InsurTech funding rose 34.9% year on year to USD3.49B in 2025.p.8
- The number of USD100M-plus mega-round deals nearly doubled from 6 to 11 in 2025.p.8
- The United States' deal share increased from 50.58% in 2024 to 55.74% in 2025.p.10
- 2025 saw 162 venture investments in tech by (re)insurance companies, a record high.p.10
- Life, accident and health-focused InsurTechs have raised a total USD25.15B in funding since 2012.p.10
Key insights
- L&H InsurTech funding dipped 4.6% year on year to USD1.59B in 2025, while deal count fell 17.7% to 102.p.9
- 58% of P&C deals went to InsurTechs in the B2B category in 2025.p.9
- Y Combinator has led investors with 105 investments since 2012, followed by Plug and Play Ventures (86) and Anthemis (64).p.10
- Of the USD63B-plus invested into InsurTech, USD25.2B has been invested in LAH InsurTechs, approximately 39% of the total.p.20
- Approximately 671 active InsurTech companies that have raised capital are involved in life, accident and health.p.21
- 44% of Americans own wearable health tracking devices.p.15
- ICHRA sales rose 34% between 2024 and 2025, according to the HRA Council.p.32
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