Meet Peak3! They’re a SaaS startup for the insurance industry. Now, they’ve just raised a $35M Series A.

• Founded in 2018, they were known as ZA Tech.
• They’re not associated anymore. But ,they were first established as a joint venture between ZhongAn and SoftBank Vision Fund.

Investor check. EQT led the round. Alpha JWC Ventures also joined in!

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💭 What they do

They’ve built a customizable core system that powers the end-to-end insurance value chain. Whether you want to modernize your core system and operations or are building a new insurance venture, you can use it!

• It’s for insurers and MGAs (managing general agents).
• Customers include AIA< Prudential, Sumitomo Life, and Tokio Marine.
• It can help you with crafting new products, underwriting and rating, claims and billing, and more!

They’ve also built a cloud platform that makes it easier to offer embedded insurance! Now, you can distribute and bundle products from different insurers.

• Customers include Carro, Grab, Klook, and more.
• Examples of embedded insurance? The insurance you buy when you book a Grab delivery or the travel insurance you buy when you get plane tickets!

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💰 What’s with the $$$?

They’ll invest in their data and AI capabilities. Oh, and they’ll also expand in Europe and the Middle East and Africa!