The 'insurtech' ecosystem of Latin America managed to attract investments of 90 million dollars (78.9 million euros) in the first half of the year, while the number of active companies rose to 576, a 14% increase compared to twelve months ago and the highest since 2023. At the same time, the closure rate of these types of firms decreased to 7%.
According to the report 'Latam Insurtech Journey', prepared by Digital Insurance Latam and sponsored by Mapfre, the capital raised until June represents the third highest record for this period since the outbreak of the pandemic. The document points out that, if the investment pace is maintained in the second half of 2026, the year could conclude with figures close to those of 2025.
"This semester marks a turning point [...]. The democratization of AI is one of the factors that explain this trend [...] by internally transforming the 'insurtechs', allowing them to improve their efficiency and strengthen their value proposition," explained the CEO and founder of Digital Insurance Latam, Hugues Bertin.
"On the other hand, the traditional insurance sector also needs to evolve and collaborate with external solutions [...] that can be implemented quickly and generate concrete impacts," he added.
In this line, the study already identifies 18 'insurtechs' focused on agentic AI, a niche that was practically nonexistent just two years ago and that is giving rise to new proposals in areas such as claims management, fraud detection, underwriting, or customer service.
The advancement of the ecosystem is accompanied by an improvement in its main metrics: in the last twelve months, 102 'startups' emerged and 35 ceased operations, resulting in a birth and mortality ratio of 3.5, the highest in recent years.
Brazil remains the largest market in the region, with 217 'insurtechs', followed by Mexico (150), Chile (112), and Argentina (110). The report also notes "strong advances" in other parts of the map, such as Uruguay (39%), Central America (29%), or Colombia (20%).
19.7% of 'insurtechs' operate in several Latin American countries or have origins outside the area. However, the document emphasizes that this percentage, despite being "high," "only grew by 7%."
"It's not that 'insurtechs' don't internationalize, it's that more and more local ones are born, and sooner or later, they also internationalize. This is an indicator of 'good health' of the ecosystem, as the probability of disappearance of an 'insurtech' operating in a single country is now four times greater," Bertin has stated.
The index measuring the presence of foreign companies stands at 33%, above the 31.9% recorded in July 2025. In practice, this means that, on average, three out of ten 'insurtechs' in a market are foreign, with a special weight in Peru (32%), Colombia (53%), and Mexico (42%).
"The strength of the sector [...] positions 2026 as a year of great potential. [...] Trends such as agentic AI, the development of Life & Care, or new distribution models are driving a new stage of insurance innovation in the region," summarized Carlos Cendra, head of investments and corporate innovation scouting at Mapfre.
Mobility and Life & Care drive growth
The report highlights that mobility has once again positioned itself as the main Latin American 'insurtech' segment, with 211 'startups' accounting for 37% of the total. In this field, digital distribution models, specialized brokers, and telematics solutions are gaining weight.
On the other hand, 'Life & Care' has established itself as "one of the great engines" of the ecosystem, with 151 'insurtechs', equivalent to 26% of the regional total. This segment concentrated 76% of the 90 million dollars raised in the first half of the year.
The study also detects progress in emerging categories linked to AI, fraud, data usage, pricing, or underwriting, as well as in platforms for brokers and intermediaries, one of the areas that has evolved the most in the past year.
Distribution between enablers and distributors
Currently, 48% of Latin American 'insurtechs' are oriented towards distribution, while the remaining 52% act as enablers. Most distributors focus on personal lines of auto and home, with broker models and managing general agents (MGAs) representing 40%.
A significant part of digital intermediation (D2C) has transitioned to 'business to business to consumers' (B2B2C) schemes to service distribution platforms, and fully digital players have already emerged.
In the block of enablers, AI agents (6%) and the category that groups fraud, data, 'pricing', risks, and underwriting (7%) stand out as the areas of greatest dynamism. However, the largest proportion remains linked to digitalization solutions for traditional insurance intermediation, at 18%.