Key Global InsurTech investment stats in Q3 2026:
- Global InsurTech deal activity grew 13% QoQ
- India emerged as one of the top InsurTech hubs as companies based in the country secured 9% of all deals globally
- InRisk Labs, an Indian technology provider for parametric insurance and reinsurance combining catastrophe modelling, climate risk analytics and AI-powered underwriting, raised $27m in a Series A round, marking one of the biggest InsurTech deals of the third quarter
Global InsurTech deal activity grew 13% QoQ
Global InsurTech market attracted 77 deals in Q3 2026, up 3% from 75 transactions in Q3 2025 and 13% from 68 in Q2 2026.
Funding came in at $753.4m, broadly flat against the $751.6m raised in Q3 2025, a less than 1% increase, but down 58% from $1.8bn in Q2 2026.
The sharp sequential decline in funding against a modest rise in deal volume points to Q2 2026 being an outlier, likely driven by a small number of larger transactions that did not carry through into the following quarter.
On a year-on-year basis, both funding and deal activity held essentially steady, suggesting the sector has found a degree of equilibrium at current levels.
India emerged as one of the top InsurTech hubs as companies based in the country secured 9% of all deals globally
US retained its position as the most active global InsurTech market in Q3 2026, with companies recording 41 deals and a 53% share of total activity.
This compares with 42 deals and a 56% share in Q3 2025, a marginal 2% dip in volume and a slight narrowing of its proportional standing.
India entered the top three in Q3 2026 with seven deals and a 9% share, having not featured in the equivalent ranking a year earlier.
Its emergence as the second most active market is one of the more notable developments of the period.
UK slipped from second place in Q3 2025, where it recorded nine deals and a 12% share, to third in Q3 2026 with six deals and an 8% share, a 33% decline in volume and a meaningful narrowing of its share of overall activity.
Germany, which had held third place in Q3 2025 with five deals and a 7% share, dropped out of the ranking entirely.
India’s arrival and Germany’s exit points to a shift in the geographic composition of global InsurTech deal flow, with South Asian markets gaining ground at the expense of continental Europe in the lower reaches of the ranking.
InRisk Labs, an Indian technology provider for parametric insurance and reinsurance combining catastrophe modelling, climate risk analytics and AI-powered underwriting, raised $27m in a Series A round, marking one of the biggest InsurTech deals of the third quarter
The round was co-led by Bessemer Venture Partners and Northpoint Capital.
Alongside the raise, its subsidiary EarthRe Insurance IFSC secured a reinsurance licence from the International Financial Services Centres Authority, becoming the first incorporated reinsurer to receive such a licence at GIFT City.
EarthRe focuses on non-life reinsurance across natural catastrophe, climate risk, property, crop, marine cargo, motor and other speciality segments.
The group structure separates technology and risk intelligence development, handled by InRisk Labs, from the regulated reinsurance business operated by EarthRe.
Proceeds will strengthen underwriting, actuarial catastrophe modelling and AI capabilities, support expansion into new non-life insurance segments and meet regulatory capital requirements as EarthRe scales across India and other Global South markets.
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