In the second report of 2026, we focus on the infrastructure that is being built to support AI — sometimes at breakneck speed and remarkable scale. At the heart of this story sit data centers; physical facilities that house the servers, storage and networking equipment.
In recent years, data centers have grown to become the backbone of modern digital operations, but they're now increasingly powering AI workloads. As these workloads continue to grow, so does the demand for data centers themselves.
However, the speed at which data centers are being built, and the expense and complexity of the AI-supporting hardware within, has placed a lot of pressure on underwriters. As ever, though, where there's challenge there's also opportunity for those that wish to write this new class of business.
This report explores the intersection of AI, data centers and the risks and opportunities for the (re)insurance industry.
In addition, the report provides insights into the performance of the InsurTech market for Q2 2026.
This quarter's activity continues to demonstrate the fascinating fundraising trends that we have seen in recent months — an apparent rise in levels of funding, coupled with a possible narrowing of the industry's innovation pipeline, particularly for incumbents.
Key findings for Q2
- Global InsurTech funding reached USD2.44B in Q2 2026, the highest since Q2'22 — much of which was attributable to significant levels of mega-round funding.
- Early-stage funding 51.8% QoQ, from USD548.0M to USD264.19M, although early-stage deal count reached 54 deals.
- A staggering 99.1% of Q2 funding flowed to AI-focused companies, comprising USD2.42B and all deals greater than USD5M.
- (Re)insurance companies backed 27 tech investments, down from 32 in Q1'26, with 51.9% of them as early-stage deals.
Read the full report for a comprehensive overview of the quarter's activity.