Asia's insurtech funding totals $22m across 10 deals in Q2 2025

The region accounts for 16% of the world’s total insurtech funding.

Global insurance technology (insurtech) investment declined in Q2 2025, with total funding falling to $1.1b, a 21% drop from the previous quarter, according to CB Insights’ State of Insurtech report for Q2 2025.

The number of deals also decreased by 9% to 91. The median deal size for the year to date stood at $4.2m, down 19% compared to 2024.

Unlike broader venture markets, insurtech funding has not experienced a lift from AI-related investments in recent quarters.

Regionally, the United States remained the largest market, accounting for 60% of global insurtech deals — the highest share since 2017. 

Europe followed with a 21% share, whilst all other regions, including Asia-Pacific, accounted for 16%. 

Asia’s funding in Q2 2025 amounted to $22m across 10 deals, a relatively small share of the global total.

For Asia-Pacific investors and market participants, these results highlight ongoing headwinds for global insurtech funding, particularly in P&C, and the relative resilience of L&H-focused models. 

Whilst Asia-Pacific’s share remains modest, targeted opportunities may emerge in specialised segments such as ICHRA and other health-benefit platforms, where funding momentum appears stronger despite the overall slowdown.

Global breakdown
Property and casualty (P&C) insurtechs were particularly affected, with funding down to $400m — the lowest level in eight years and 89% below the sector’s peak in Q2 2021. 

No later-stage funding rounds (Series D or above) were recorded for P&C companies during the quarter. The only notable liquidity event for the sector was an initial public offering by a US-based home insurer valued at over $2b.

Life and health (L&H) insurtechs captured most of the largest deals in Q2 2025, including multiple funding rounds exceeding $100m. 

The sector also recorded its first unicorn valuation since 2022 and the first IPO since that year. 

Activity in the individual coverage health reimbursement arrangement (ICHRA) segment was strong, with five platforms raising a combined $234m. This represented nearly one-fifth of total global insurtech funding.