99.2% of Q2 InsurTech Funding Goes to A

Weekly News Roundup

Top InsurTech Headlines from August 3–9, 2026

Curated by InsurTech NY • Sources: official company announcements, industry research and reporting

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7 Top Stories

99.1% Q2 Funding to AI

$2.44B Q2 InsurTech Funding

Industry Report

Is InsurTech Funding Becoming an AI-Only Game?

Gallagher Re reported $2.44 billion in global InsurTech funding during the second quarter of 2026, the highest quarterly total since Q2 2022. AI-focused companies captured $2.42 billion, or 99.1% of the total, while every deal above $5 million went to an AI-focused business.

The headline number looks like a funding recovery, but the underlying picture is more concentrated. Early-stage funding fell to roughly $264 million from $548 million in the previous quarter.

Source: Gallagher Re

Auto Insurance

Lemonade Says Tesla FSD Miles Deserve a 50% Insurance Discount

Lemonade expanded its Autonomous Car insurance product into Tennessee, offering Tesla owners approximately 50% off the per-mile insurance rate for miles driven using Full Self-Driving (Supervised).

Lemonade says its pricing reflects lower accident risk while FSD is in use and that discounts could increase further if autonomous-driving performance continues to improve.

Source: Lemonade

Industry Debate

Who Pays When an AI Agent Goes Rogue?

An August 7 Financial Times letter from EIP CEO Ross Sinclair raised a growing insurance question around autonomous AI agents: whether existing cyber policies may already contain AI-related exposures that were never specifically modeled or priced.

Sinclair argued that insurers increasingly need to understand the permissions, authority and system access granted to autonomous agents, while businesses will need tighter controls and auditable decision-making around their use.

Source: Financial Times

Acquisition

Federated Buys Trucking InsurTech HDVI

Federated Mutual Insurance acquired High Definition Vehicle Insurance, the commercial auto insurer focused on data-driven trucking coverage. HDVI operates across 26 states and works with more than 100 agencies and 500 producers.

The company will continue operating with Federated’s backing, giving HDVI additional financial strength as it expands its telematics-driven commercial trucking model.

Source: HDVI

Acquisition

Gallagher Buys Canadian Digital Broker Apollo

Arthur J. Gallagher acquired Vancouver-based Apollo Insurance Solutions, a digital insurance broker and MGA specializing in tenant insurance across Canada. Terms of the transaction were not disclosed.

Apollo uses a proprietary digital platform to streamline insurance placement and will continue operating under its existing leadership as part of Gallagher’s Canadian brokerage business.

Source: Arthur J. Gallagher

Cyber Risk

AXA XL Takes Full Control of Cyber Consultancy S-RM

AXA XL agreed to acquire the remaining shares of S-RM, the corporate intelligence and cybersecurity consultancy in which it already holds approximately a 49% stake.

S-RM provides cyber risk assessment, managed detection and response, investigations, geopolitical intelligence and crisis support. The deal is intended to strengthen AXA XL’s growing prevention and risk-advisory business.

Source: AXA XL

Acquisition

Keylane Buys 360Globalnet to Strengthen Digital Claims

Keylane acquired UK-based insurance technology company 360Globalnet, adding its SiteView digital claims platform to Keylane’s Property and Casualty offering.

SiteView helps insurers orchestrate claims journeys, automate workflows, manage digital site visits and modernize parts of the claims process without replacing existing core systems.

Source: Keylane

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