ZA Tech, a Singapore-based insurance core system SaaS provider, has rebranded as Peak3 and raised US$35M in Series A funding.
Backers included EQT (lead investor) and Alpha JWC Ventures.
The company intends to use the funds to advance its analytics and AI capabilities toward an intelligent core insurance solution, grow its EMEA operations, and establish new system integrator partnerships.
Led by CEO Bill Song, Peak3 has developed a cloud-native, modular insurance core and distribution system that combines comprehensive capabilities for life, health, and property and casualty (P&C) insurance. Since its founding in 2018, the company has become a technology partner to global insurers such as AIA, Generali, Prudential, and Zurich for their digital and traditional business. It has also partnered with digital platforms such as Carro, Grab, Klook, and PayPay to build and scale their embedded insurance businesses.
FinSMEs
19/06/2024