Case Study
Klook Embeds Protection into its Experience and Travel Ecosystem
Digital Services
Digital Services
Lazada Embeds Insurance into its eCommerce Platform
About Company
Lazada is Southeast Asia's pioneering eCommerce platform with operations across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Its thriving ecosystem links about 160 million active users to more than one million actively-selling sellers every month.
Region
APAC
Industry
Digital Services
Solution Used
Fusion
The Requirements
A Unified Insurance Distribution and Orchestration Platform
Lazada looked at expanding its capabilities beyond its core eCommerce offerings by integrating diverse insurance propositions into its ecosystem. Lazada wanted its customers to obtain insurance coverage through the Lazada app and website and merchants to benefit from tailored protections to safeguard their businesses.
To realize this ambition, Lazada required a unified platform with key capabilities:
Comprehensive support for traditional and innovative insurance products across all insurance product lines
Holistic configurability to quickly launch, test and iterate insurance propositions in a dynamic environment
Open architecture and extensive integration capabilities to seamlessly integrate with Lazada's platforms and system
High scalability and performance to support a quickly growing business with tens of millions of customers across multiple countries
The Solution
Fusion Platform for Seamless Customer Experience and Efficient Multi-Country Scaling
Lazada and Peak3 established a partnership in 2024 to scale insurance offerings across Lazada's ecosystem, leveraging Peak3's digital-first insurance orchestration platform, Fusion.
In collaboration with leading local and global insurers such as AIA, Astra, Income Insurance, MSIG, and Sompo, Lazada quickly started distributing a diverse portfolio of insurance propositions across property & casualty, while gradually expanding into life & health.
Besides seamlessly integrated embedded insurance, such as gadget and electronics protection, marketplace insurance options, such as car, accident and travel insurance, are conveniently sold via Fusion.
Lazada's benefits from Fusion:
Rapid Multi-Country Deployment: Enabling new product launches in weeks through configuration, optimized for scalability and re-usability across countries.
Comprehensive and Innovative Insurance Offerings: Supporting the full spectrum of insurance products, from micro-insurance to traditional insurance, along with parametric propositions to offer enhanced flexibility and tailored coverage.
Simplified API Integration: Streamlining insurer connectivity across core systems and providing seamless customer journeys and high performance during peak sales periods.
Data-Driven Optimization: Providing real-time analytics and A/B testing capabilities to enable data-driven optimizations of products and customer journeys.
“This partnership allows us to achieve greater synergies and operational efficiencies, with the products and corresponding services managed centrally on one platform.”
The Impact
Controlling Own Destiny with Unmatched Agility and Scalability
Speed-to-Market Advantage
Less than six months to launch multiple insurance products across six countries.
Unlimited Scalability
Millions of policies issued per month with no operational overhead and fully automated processes.
Full Operational Control
Full control over customer data and customer experience, limiting constraints from insurers' legacy systems.
Case Study
Grab Scales Embedded Insurance Across Hundreds of Millions of Transactions
Digital Services
Digital Services
Case Study
UNIQA Embarks on Multi-Country Modernisation with Peak3
P&C Insurance
P&C Insurance
Scale Your Insurance Business with Peak3
Explore how to streamline operations, launch faster, and deliver better customer experiences with Peak3.
