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In this interview, Bill Song, CEO and Co-Founder of Peak3, shares his insights into how AI is reshaping the insurance value chain and how to ensure it translate into the real tangible value for insurers at scale.
At ITC 2026 (Insurtech Connect Asia), Bill Song, CEO and Co-Founder of Peak3, and winner of the Data & AI at Scale award, sits down to discuss how artificial intelligence is transforming the insurance value chain. Song explains why AI is best suited to high-volume, document and rule-heavy areas like underwriting, claims, and customer service, where it delivers strong, measurable ROI, while complex cases still require human expertise. He outlines Peak3's strategy of embedding AI across three layers (data, architecture, and application/agent level), starting with practical use cases like fraud, waste, and abuse (FWA) detection and first notice of loss, and shares why he believes the claim that "SaaS is dead" is a misleading narrative, given the insurance industry's need for deterministic, traceable outcomes. The conversation closes with his perspective on how SaaS providers like Peak3 must evolve toward AI-native, flexible core systems that give insurers greater optionality rather than constraining them to legacy infrastructure.
