The cloud-native, AI-driven software quietly running modern insurance for insurers, MGAs and brokers worldwide.
Peak3's brand and core-platform interface. The company rebranded from ZA Tech in 2024 - the same year it raised a US$35M Series A led by EQT.
Most people will never knowingly use Peak3. That is rather the point. When a traveller adds cover to a Klook booking, when a Grab ride comes bundled with protection, or when a Lazada shopper clicks a small insurance box at checkout, there is a decent chance the policy is being priced, issued and administered by software built in Singapore by a company called Peak3 - the business known until 2024 as ZA Tech.
Peak3 builds core software for the insurance industry: the systems that hold policies, calculate prices, configure products, process claims and connect insurers to the apps and marketplaces where customers actually are. It is unglamorous, mission-critical plumbing, and it has historically run on decades-old systems that are slow to change and expensive to maintain.
The company's pitch is that insurance deserves a modern technology foundation - one that is cloud-native rather than mainframe-bound, assembled from modular microservices rather than a single monolith, and wired together with open APIs so an insurer can launch a new product in weeks instead of years. That thesis has carried Peak3 from an Asian spinout to a platform that has supported more than a billion policies across over twenty countries.
Founded in 2018 out of ZhongAn, China's first fully digital insurer, and once backed by SoftBank's Vision Fund, ZA Tech spent its early years building for Asia's fast-moving digital-insurance market. Expansion into Europe and the Middle East followed in 2020. By 2024, with a sharpened focus on artificial intelligence and global ambitions, the company retired the ZA Tech name and became Peak3.
Peak3 sells a modular platform. An insurer can adopt the whole stack or slot individual pieces alongside existing systems - a design choice that matters when replacing a core system all at once is often too risky to contemplate.
Positioned as the industry's first truly cloud-native, AI-ready core for life, health and P&C insurance. Handles policy administration, product configuration, pricing, servicing and claims.
A scalable orchestration layer that connects distribution channels, partners and back-end systems through open APIs and workflow automation - the connective tissue of a digital insurance operation.
Native and embedded AI agents for conversational service, intelligent document processing, assessment and triage, agentic claims and medical underwriting.
Peak3 serves two overlapping groups. The first is established insurers modernising their core systems: names such as AIA, Generali, Prudential, Zurich and Astra. The second is digital platforms that want to embed insurance into their own products - selling protection at the moment of need rather than as a standalone purchase.
That embedded-insurance business is where Peak3's roots show. It has built and scaled programs with Grab, Klook, Carro and Japan's PayPay, and in 2024 launched a joint venture with Lazada that rolled out a dozen insurance propositions across six Southeast Asian countries in under a year.
Where Peak3 sits in the market
Illustrative positioning based on public reporting, not audited benchmarks. Peak3 competes with core-system vendors such as Guidewire, Duck Creek, Sapiens and newer insurtech platforms like Socotra and INSTANDA.
Insurance is one of the oldest industries on earth and one of the slowest to modernise. Many carriers still run policy and claims logic on systems written decades ago - reliable, but rigid. Launching a new product can mean months of engineering; entering a new country can mean a fresh integration project; adding a distribution partner can mean bespoke code.
Peak3's answer is architecture. By building its core on the cloud, breaking functions into microservices and exposing everything through open APIs, it aims to turn multi-year change programs into configuration. The company markets no-code product configuration, multi-country and multi-currency support, and multi-cloud deployment so insurers are not locked to a single vendor.
Its differentiator against incumbents is being cloud- and AI-native from the ground up rather than retrofitted. Against younger insurtechs, its edge is scale and enterprise credibility - a track record with tier-one insurers and a billion-plus policies processed. That combination is what EQT and Alpha JWC Ventures backed in the 2024 Series A.
Spun out of ZhongAn to build cloud-native insurance software for Asia, with early backing from SoftBank's Vision Fund.
The company extends beyond Asia into European and Middle Eastern markets and scales embedded-insurance partnerships.
ZA Tech becomes Peak3 and closes a Series A led by EQT with Alpha JWC Ventures, doubling down on AI.
A digital-insurance JV rolls out a dozen products across six Southeast Asian countries.
Peak3 wins the Top Initiative InsurTech Startup Award at ITC Asia and is named among the world's most innovative insurtechs.
At a glance
Peak3 is a business-to-business software company. It does not underwrite risk or sell policies to consumers; it licenses the technology that lets other companies do so. Revenue comes from software subscriptions and usage - the more policies an insurer processes and the more modules and markets it switches on, the more it pays. In its embedded-insurance ventures, Peak3 often co-builds and shares in the programs it helps launch, aligning its growth with its partners' success.
That model has a useful property: it compounds. Every new insurer that adopts Graphene, every digital platform that plugs in through Fusion, and every country a client expands into adds recurring revenue without a proportional rise in sales effort. It is the classic software flywheel applied to an industry that has been slow to feel it.
The company's expertise is a deliberate blend of two disciplines that rarely sit together. Its engineers bring modern software practices - microservices, DevOps, continuous delivery, multi-cloud deployment and, increasingly, applied AI. Its domain specialists bring the hard-won knowledge of how insurance actually works: regulatory compliance across jurisdictions, product configuration, claims logic and the operational realities of running a book of policies. Peak3 describes itself as "founded and built by technology and insurance experts," and that dual fluency is what lets it sell to both a chief technology officer and a chief underwriting officer.
There is a social thread running through the strategy too. Peak3 talks about widening access to insurance for underserved communities and lowering the industry's operational and carbon footprint by moving it to efficient cloud infrastructure. Whether framed as mission or market opportunity, cheaper and faster distribution is precisely what opens up thin-margin, high-volume segments - micro, parametric and embedded cover - that legacy economics could never reach.
Yes. It was founded in 2018 as ZA Tech and rebranded to Peak3 in 2024, at the same time it announced its US$35M Series A.
It builds cloud-native, AI-ready software for the insurance industry - core policy and claims administration (Graphene), distribution and orchestration (Fusion), and AI agents (Agentic AI) - for life, health and P&C insurance.
Its 2024 Series A of US$35M was led by EQT with Alpha JWC Ventures. As ZA Tech it was backed by ZhongAn and SoftBank's Vision Fund.
Global insurers including AIA, Generali, Prudential and Zurich, plus digital platforms running embedded insurance such as Grab, Klook, Lazada and PayPay - 50+ partners across 20+ countries.
Its headquarters are in Singapore, with a presence across more than twenty countries in Asia, Europe and the Middle East.