Peak3 and Lazada Forge Insurtech Venture in Southeast Asia

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Peak3 and Lazada Forge Insurtech Venture in Southeast Asia
Insurtech provider Peak3's SaaS platform to power digital insurance distribution across Lazada's 160m user base in six markets

Peak3, a provider of software-as-a-service insurance technology, has partnered with Southeast Asian e-commerce platform Lazada to launch a joint venture focused on digital insurance distribution across the region.

The venture combines Peak3's insurance orchestration platform—a system that automates policy issuance, claims, and administration—with Lazada's e-commerce infrastructure that connects 160 million active users to more than one million merchants monthly.

Integration with existing e-commerce infrastructure

The venture embeds insurance products into Lazada's existing e-commerce platform, allowing users to purchase coverage through the mobile application. 

The technology integrates with insurers including AIA, Astra, Income Insurance, MSIG and Sompo to offer property and casualty, accident and health, and life insurance products.

The platform provides embedded insurance options for electronics purchases and product liability, alongside standalone marketplace products including motor, personal accident and travel coverage.

Bill Song

Bill Song, Group CEO of Peak3, says: “We are thrilled to partner with Lazada, leveraging our expertise from similar ventures with Grab, Klook, and Carro. The early market traction has been remarkable.”

Since operations began in August 2024, the venture has deployed insurance products across Singapore, Malaysia, the Philippines, Vietnam, Thailand and Indonesia. It has issued five million policies and processes 70,000 policies daily.

“Peak3's platform has significantly enhanced our insurance offerings, driving greater synergies and operational efficiency. We are on track to exceed two million policies per month across six markets”

David Zheng, Lazpay Head of Product, Insurance and Digital Goods

Technical infrastructure and deployment

The venture operates on Peak3's SaaS insurance orchestration platform, which provides API connectivity—standardised software interfaces that allow different systems to communicate—between Lazada's e-commerce platform and insurance providers.

The technology enables multi-country product launches within weeks and supports both microinsurance—insurance products with low premiums and coverage limits—and traditional insurance products.

David Zheng, Lazpay Head of Product, Insurance and Digital Goods, says: “Peak3's platform has significantly enhanced our insurance offerings, driving greater synergies and operational efficiency. We are on track to exceed two million policies per month across six markets.”

The venture plans to implement artificial intelligence for claims assessment and customer support, alongside flexible premium payment options. 

Future developments include potential expansion through Alibaba International Digital Commerce businesses.

Peak3 currently provides insurance technology to 50 insurers, managing general agents, and intermediaries across life, health and property and casualty insurance sectors. 

Lazada has operated e-commerce platforms in Southeast Asia for 12 years, developing its own payments system, digital wallet and logistics network.

Exploring Peak3 

Peak3

Transforming the insurance landscape, Peak3 delivers cutting-edge SaaS solutions that blend core technologies, sophisticated orchestration and AI-powered innovations. 

The company has emerged as a pivotal technology partner for over 50 insurers, managing general agents (MGAs) and industry intermediaries across life, health and property & casualty (P&C) insurance sectors. 

By providing advanced technological infrastructure, Peak3 empowers insurance organisations to accelerate growth, elevate customer experiences and dramatically improve operational efficiency.

Exploring Lazada Group 

Lazada

As Southeast Asia's pioneering eCommerce platform, Lazada Group has been a transformative force in digital commerce for over a decade. 

Operating across six key markets—Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam—the company has built a vibrant digital ecosystem that connects approximately 160 million active users with more than one million dynamic sellers each month.

Lazada's innovative approach combines secure transaction channels, the convenient Lazada Wallet and the region's most extensive homegrown logistics network, driving technological and commercial progress throughout Southeast Asia.


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