Peak3
Where Insurance Meets Innovation

The path to digital transformation in the insurance industry is rarely smooth. For many insurers, outdated legacy systems and rising customer expectations necessitate a significant change. Many have turned to makeshift solutions, layering automation tools like robotic process automation and application programming interfaces over their existing systems. While these efforts offer temporary relief, they often fail to address the root cause of the problem, leaving insurers with a piecemeal approach—attempting to solve individual problems with isolated solutions rather than undertaking a comprehensive overhaul. These inadequate fixes fail to deliver the fundamental shift needed for long-term success and exacerbate the escalating risks associated with outdated core systems.

Peak3, formerly known as ZA Tech, is at the forefront of this digital transformation, offering Peak3 Fusion, a next-generation cloud platform for life, health and property-and-casualty (P&C) insurance.

At the heart of Peak3 Fusion lies Graphene, the industry’s first truly SaaS, digital-first core and distribution system for any product line in life, health and P&C insurance—engineered to streamline the entire insurance value chain. Simplifying processes such as product management, underwriting, claims processing and benefits management eliminates inefficiencies and integrates data seamlessly.

Graphene is built to meet today’s needs and adapt to the ever-evolving digital landscape. Using modern architecture and technology standards, Graphene undergoes continuous improvement, with new versions released every two weeks. This allows insurers access to the latest functional capabilities and technological advancements, keeping them at the forefront of industry innovation. Graphene’s tech stack always remains modern and secure, avoiding the pitfalls of accumulating patchwork customizations over time.

With extensive out-of-the-box configurability, Graphene empowers insurers to rapidly launch new insurance products and iterate on them with minimal coding, leading to faster time-to-market and increased customer satisfaction. By driving growth through customer-centric insurance models such as usage-based or micro-insurance, Graphene helps insurers better align with their customers' evolving demands.

Graphene’s versatility allows it to cater to the unique needs of each archetype—digital opportunists, digital adopters or modern insurers—ensuring that every insurer, regardless of where they are on their digital transformation journey, can leverage its powerful capabilities.

For digital opportunists just beginning their journey, Graphene provides seamless integration with existing legacy systems, allowing a gradual transition to digital. This approach ensures that traditional insurers can implement digital transformation without disrupting operations.

Digital adopters who have already embraced digital strategies can leverage Graphene as a standalone platform— enabling them to accelerate their efforts, launch innovative products and operate free from legacy constraints to scale rapidly.
For the most digitally mature modern insurers, Graphene is a complete replacement for their legacy core systems. This empowers them to harness the full power of digital technology across their entire value chain, achieving unprecedented levels of efficiency, agility and customer-centricity.

“We have evolved from an embedded insurance pioneer in Asia to a global end-to-end technology partner for the insurance industry. Our new name, Peak3, represents our commitment to scaling the heights of innovation, performance and reliability as we help insurers reach the summits of their cloud, data and AI transformation,” says Bill Song, co-founder and CEO.

This impressive capability has been recognized and supported by significant investment. Peak3 recently secured a $35 million Series A funding round led by EQT AB and Alpha JWC Ventures. This investment empowers Peak3 to expand its presence in Europe, the Middle East and Africa. The funding is being used to invest in cutting-edge data and AI solutions, solidifying Peak3’s position as a global leader in insurance technology.

Peak3’s focus on innovation, data-driven insights and customer-centric solutions positions it as a leader in the industry’s digital transformation. With Peak3, the future of insurance is digital, efficient and customer-centric, paving the way for a new era of insurance innovation.