The 2025 series of Global InsurTech reports examine the role of Artificial Intelligence (AI) in our industry, exploring its application and use cases in the largest classes of business written (in premium terms). This third report in the 2025 series will focus on commercial insurance.
Specifically, we will assess the ways in which InsurTechs are attempting to use AI to revolutionize this major line of (re)insurance business, the extent to which they have been successful and the expectations for the future. We will look both at InsurTechs who are working with incumbent carriers, and also those businesses that are offering their own standalone solutions.
The report also examines and provides insights into the performance of the InsurTech market during Q3 of this year. Overall, this quarter has shown a continuation of the steady trend in funding volume that we have observed over the past few years. Despite a small quarter on quarter decline, global InsurTech funding was USD1.01B in Q3 2025; within a 10% marginal swing of the USD1.1B mean average we have been observing over the past three years.
The points below show a summary of InsurTech funding activity for the third quarter of this year.
Key findings for Q3
- Global InsurTech funding was USD1.01 billion in Q3 2025
- InsurTech saw just 76 deals in Q3 2025, the lowest count since Q2 2020
- Early-stage InsurTech funding ticked up 6.8% quarter on quarter
- 74.8% of Q3 2025 InsurTech funding went to AI-centered companies
- Commercial-focused InsurTechs raised USD470.67 million in funding over Q3'25
- (Re)insurance companies backed 51 tech investments in Q3'25 — a record high
