Insurers and reinsurers have invested USD 15.3 billion into InsureTech deals over the past 13 years — about a quarter of all InsureTech funding globally, per Gallagher Re. That’s not charity. It’s insurers buying speed they can’t build in-house fast enough themselves.
Here’s the unglamorous truth about why this works: building claims automation, embedded distribution or fraud detection from scratch inside a 50-year-old insurer is slow, expensive, and usually three product cycles behind the InsureTech that’s been doing nothing else since it was founded. So insurers don’t build it — they date it, fund it, or buy it outright. Munich Re didn’t out-engineer Next Insurance; it acquired it for USD 2.6 billion and called it a strategic masterstroke. CyberCube, meanwhile, is basically the prom king of cyber risk analytics, picking up new dance partners (Aviva, DUAL, Mapfre Re) every season.
Associations get a quieter but equally good deal: curated InsureTech access means members see vetted innovation without each one running their own due diligence from zero. Less reinventing the wheel, more borrowing a really good one.
The pattern holds whether you’re an insurer chasing faster claims, or an association trying to look forward-thinking at the next AGM: someone else has already built the thing you were about to spend two years building badly.
Sources: Gallagher Re, Global InsurTech Report Q3 2025 (via Carrier Management) · CB Insights, State of Insurtech 2025 Report
