Key global InsurTech investment stats in Q1 2026:
- US InsurTech funding grew 30% YoY in Q1
- US firms raked in half of the top 10 deals as the country dominated the global InsurTech marketplace
- Lassie, a prevention-first pet insurer that combines insurance coverage with everyday pet care, raised $75m in a Series C round, making it one of the top global InsurTech deals of the first quarter
US InsurTech funding grew 30% YoY in Q1
Global InsurTech investment in Q1 2026 reached $973.4m across 43 deals, representing a 30% increase in funding compared to the $745.9m raised across 55 deals in Q1 2025.
Deal volume fell by 22% over the same period, meaning the growth in total capital raised was driven by a marked increase in average deal size rather than a widening of transaction activity.
The average deal value rose to $22.6m in Q1 2026, up from $13.6m in Q1 2025, suggesting that investors are directing larger sums into a more concentrated set of opportunities.
The combination of higher funding and fewer deals points to a sector where confidence at the top end of the market is building, even as overall activity contracts.
US firms raked in half of the top 10 deals as the country dominated the global InsurTech marketplace
The country-level breakdown of the top 10 deals in Q1 2026 shows both continuity in the sector’s established leaders and some meaningful shifts in which markets are producing its largest transactions.
The US retained its position as the dominant country in both periods, though its share of top deals narrowed from six in Q1 2025 to five in Q1 2026, reflecting a gradual, if modest, redistribution of large deals across the global market.
The UK also featured in both periods, maintaining two top deals on each occasion, underlining its consistent role as one of the sector’s principal hubs outside North America.
France and Sweden were new entrants in Q1 2026, with France securing two of the top 10 deals and Sweden one, suggesting that European InsurTech is generating transactions of increasing scale.
South Africa and Brazil, which each contributed a top deal in Q1 2025, did not feature in Q1 2026, pointing to a degree of retrenchment in emerging market activity at the larger end of the funding spectrum.
Lassie, a prevention-first pet insurer that combines insurance coverage with everyday pet care, raised $75m in a Series C round, making it one of the top global InsurTech deals of the first quarter
The round was backed by Balderton Capital, Felix Capital, Inventure, Passion Capital and Stena Sessan.
Founded in Stockholm, the company currently operates in Sweden, Germany and France, insuring around 250,000 pets, and reports more than $100m in annual recurring revenue.
Automation sits at the heart of its operating model, with around 60% of claims in Germany now processed end to end in approximately six minutes.
The company’s app-based approach drives daily engagement well above industry norms, with active usage of around 25% against a sector average of 8 to 9%.
Lassie is targeting a fast-growing market, with the global pet insurance sector forecast to reach around $80bn by 2033, driven by rising veterinary costs and shifting attitudes to pet ownership across Europe. Proceeds will be used to accelerate expansion into further European markets.
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