Asia insurtech deals hit $100m despite global slowdown

Q1 2026 activity fell to 81 deals for the weakest count since Q2 2016.

Insurance technology (insurtech) firms in Asia saw their funding and deals reach $100m in the first three months of the year (Q1 2026), the third largest share globally.

Asia surpassed Oceania ($55m), Latin America  ($43m), Canada ($14m), and Africa ($3m), according to a report by CB Insights.

The median insurtech deal size rose to $10.0m in the first quarter of 2026, nearly double the $5.3m recorded at the peak of the venture funding boom in 2021.

At the same time, global deal activity slowed. 

There were 81 insurtech deals completed in the quarter, the lowest level since the second quarter of 2016, when 67 deals were recorded.

Overall funding remained relatively steady. Insurtech companies raised a total of $1.6b in Q1 2026, which is $0.2b above the quarterly average since 2023. 

This suggests capital is still available, but is being deployed more selectively.

Despite this, the sector faces a narrowing pipeline of new innovation. 

Industry participants point to a decline in early-stage activity, raising concerns that established insurers may have fewer opportunities to engage with emerging technologies and business models.

Corporate venture capital participation from insurance companies also declined, reaching a nine-year low in the first quarter. 

This reduces insurers’ exposure to early-stage firms that could shape the next phase of the market.

At the same time, insurance companies are increasing their use of artificial intelligence. Chief executives are shifting AI initiatives from pilot projects into core operating systems, integrating the technology more directly into day-to-day business functions.