Key global InsurTech investment stats in Q1 2026:
- Global InsurTech deal activity dropped by 24% YoY in Q1
- US retained its position as the global InsurTech hub as companies based in the country secured half of all deals
- Corgi, an AI-native full-stack insurance carrier built specifically for startups, raised $108m in funding, marking it one of the biggest global InsurTech deals of the quarter
Global InsurTech deal activity dropped by 24% YoY in Q1
Global InsurTech companies completed 42 deals in Q1 2026, down 24% from 55 deals in Q1 2025 and 11% from 47 deals in Q4 2025.
Funding moved in a different direction depending on the comparison period: the $943.4m raised in Q1 2026 represented a 15% decline from $1.1bn in Q4 2025, but a 27% increase from the $745.9m recorded in Q1 2025.
The combination of fewer deals and higher year-over-year funding points to a market where average deal sizes have grown, even as the overall number of transactions has pulled back from previous levels.
US retained its position as the global InsurTech hub as companies based in the country secured half of all deals
The US remained the dominant force in global InsurTech activity in Q1 2026, accounting for 31 deals and a 51% share of total transactions, broadly in line with the 34 deals and 50% share recorded in Q1 2025.
The UK was the most notable mover, climbing from five deals and a 7% share in Q1 2025 to nine deals and a 15% share in Q1 2026, nearly doubling its volume and significantly strengthening its position as the second most active market.
France entered the top three in Q1 2026 with four deals and a 7% share, displacing Spain, which had held third place in Q1 2025 with four deals and a 6% share.
The change at the foot of the ranking is marginal in volume terms, but the UK’s sharp rise is the more consequential development, suggesting that London and the broader British market are attracting a growing proportion of InsurTech investment within an otherwise contracting global deal environment.
Corgi, an AI-native full-stack insurance carrier built specifically for startups, raised $108m in funding, marking it one of the biggest global InsurTech deals of the quarter
The round drew backing from Y Combinator, Kindred Ventures, Contrary, Glade Brook Capital Partners, Seven Stars, Leblon Capital, Fellows Fund, Alumni Ventures, Quadri Ventures and others, encompassing both a Series A and a prior seed round.
The company recently received regulatory approval to launch as a full-stack carrier, enabling it to design and manage insurance end to end across underwriting, claims and policy operations.
Its product suite covers directors and officers liability, errors and omissions, cyber, commercial general liability, fiduciary liability and AI liability, among others, tailored to the needs of venture-backed and high-growth businesses.
Since receiving full regulatory approval in July 2025, Corgi has surpassed $40m in annual recurring revenue, reflecting strong demand for insurance products built around speed and flexibility.
Proceeds will be used to scale its startup insurance line, expand coverage and further develop the AI systems underpinning its operations.
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