Key Global InsurTech investment stats in Q1 2026:
- Global InsurTech investment had an upswing of 26% YoY
- At current investment pace, funding is projected to increase by 12% in 2026
- Funding from deals over $100m grew by 28% as investors gained confidence in the market
- Harper, an AI-powered commercial insurance brokerage that automates the placement of complex commercial risks, raised $47m in combined seed and Series A funding, marking one of the biggest global InsurTech deals of the quarter
Global InsurTech investment had an upswing of 26% YoY
Global InsurTech funding climbed to $943.4m in Q1 2026, a 26% increase on the $745.9m raised in Q1 2025, even as deal volume fell by 24% from 55 to 42 transactions over the same period.
Against 2025’s total of $3.4bn across 201 deals, Q1 2026 accounts for 28% of last year’s funding despite representing just one quarter of activity.
The contraction in deal count, combined with the rise in capital raised, pushed the average deal size in Q1 2026 to $22.5m, up sharply from $13.6m in Q1 2025 and well above the $16.7m average recorded across 2025 as a whole.
That divergence between fewer deals and stronger funding points to a market increasingly shaped by selective, higher-conviction investment rather than broad participation.
At current investment pace, deal funding is projected to increase by 12% in 2026
Should Q1 2026’s pace hold across the remainder of the year, 2026 would close with around 168 deals and $3.8bn in total funding, implying a 16% decline in deal volume but a 12% increase in capital deployed compared to 2025.
The composition of Q1 2026 funding reflects a continuation of the trend towards larger transactions, though smaller deals are also showing signs of resilience.
Funding from deals over $100m grew by 28% as investors gained confidence in the market
Deals under $100m raised $719.8m in Q1 2026, up 26% from $570.9m in Q1 2025, and made up 76% of the total quarterly funding.
Transactions of $100m or more contributed $223.6m, a 28% increase on the $175m recorded in Q1 2025, and broadly in line with the share those deals represented across 2025, when they generated $939m, or 28% of annual funding.
The consistency of that split suggests the overall uplift in Q1 2026 was not driven by a small number of outsized deals distorting the picture, but rather by a modest strengthening across both segments.
That said, the sharp drop in deal count relative to Q1 2025 means capital is being concentrated into a narrower pool of companies, a pattern that has come to define much of the recent InsurTech investment landscape.
Harper, an AI-powered commercial insurance brokerage that automates the placement of complex commercial risks, raised $47m in combined seed and Series A funding, marking one of the biggest global InsurTech deals of the quarter
The round was led by Emergence Capital, with participation from Y Combinator, Peak XV, Antler, 10X Founders, Fellows Fund and Outset Capital.
The platform automates the end-to-end broking process, from reading applications and routing submissions to managing quotes and liaising with underwriters, delivering coverage to businesses within 24 to 48 hours.
Since launching, Harper has served more than 5,000 businesses across sectors including manufacturing, healthcare, hospitality, transportation and construction, working with more than 165 underwriters.
Proceeds will be used to grow its engineering and operations teams, deepen carrier relationships through direct appointments and expanded programmes, and further develop its AI infrastructure.
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