AI Venture Trends in Insurance

From the Evident AI Venture Tracker | March 2026

Already an Evident Member? Sign in to read the full report.

The AI Venture Tracker captures 200+ AI, technology and data venture investments made by the world’s largest insurers, revealing where leading insurers are placing their bets across AI and adjacent technologies - and what today’s investments signal for tomorrow’s competitive landscape.

Explore the key findings from the March 2026 Venture Trends in Insurance Report. Evident members can access the full insights and dataset. If you are interested in membership, please reach out to our team.

AI VENTURE TRENDS IN INSURANCE | MARCH 2026

1

AI INVESTMENT HAS SURGED SINCE 2023, DRIVING A REBOUND IN INSURERS' TECH VENTURE PORTFOLIOS

After a sharp slowdown in 2022, insurers’ tech venture portfolios are turning a corner. Overall deal activity has grown modestly at 4% CAGR (2023-25), but AI-specific investments are outpacing the broader market at 31%. Traditional AI has led the charge with deals nearly doubling from 18 to 32 in just two years, spanning underwriting, asset management, compliance and distribution. GenAI and agentic investment remains early-stage, representing a significant opportunity for first movers.

2

US INSURERS DOMINATE AI VC ACTIVITY, INVESTING NEARLY TWICE AS MUCH AS EUROPEAN PEERS

US insurers are pulling ahead, investing at nearly double the rate of their European counterparts. MassMutual, New York Life and Europe's Munich Re have all leveraged dedicated venture arms to secure consistent access to emerging AI capabilities and strategic partnerships. However Munich Re is now stepping back from that model, integrating innovation activity more directly into the core business.

3

INSURTECH, FINTECH AND CYBERSECURITY ARE THE TOP INVESTMENT PRIORITIES

As insurers embed AI into core operations, modernize financial workflows and strengthen cyber resilience, InsurTech, FinTech and Cybersecurity have emerged as the dominant AI-investment categories. InsurTech leads by a wide margin at 48 deals, with insurers heavily backing AI-enabled platforms to transform core functions, from predictive underwriting to claims automation.

RELATED RESEARCH

05 February 2026

REPORT

AI Use Case Trends in Insurance | Q4 2025

Each quarter, we publish the most up-to-date analysis of AI deployment across the global insurance sector. Explore the key findings from the Q4 2025 AI Use Case Trends in Insurance Report.

View

18 November 2025

REPORT

Evident AI Patent Tracker | Insurance Insights

The latest insights for insurance firms from the Evident AI Patent Tracker, offering an unparalleled window into how the 30 insurance firms covered by the AI Index are ramping up AI patenting activity to accelerate next generation AI deployment.

View

18 June 2025

REPORT

2025 Evident AI Index | Insurance: Key Findings Report

The Evident AI Insurance Index assesses the AI maturity of 30 of the world’s largest insurers across North America and Europe. Download the Key Findings Report to explore the latest sector-wide trends; profiles of leading insurers; and the emerging best practices by pillar.

View

Showing 3 of 3

Macro shot of a dandelion seed head in shades of blue, adorned with several clear water droplets on its delicate white filaments against a dark background.

Get in touch

To receive the latest research published by Evident and access the full dataset, become a member.

GET IN TOUCH

If you would like to learn more about membership, please fill out the form below and a member of our team will be in touch.