Insurer VCs: A Shift in Focus

We recently heard from several investors who said they’re still active—but with less focus on insurance and greater interest in AI. That said, concerns were raised about inflated valuations, how defensible AI products really are, and the speed at which the space is evolving. This report isn’t necessarily about AI, but rather about insurer-backed investor activity (or lack thereof) this year compared to last.

QBE and State Farm are outliers in their own right—each for different reasons.