eCommerce platform Lazada, and technology provider Peak3 have formed a JV to set up a new digital and embedded insurance ecosystem in South East Asia.
The JV will integrate Lazada’s diverse insurance propositions into its ecosystem where its customers can seamlessly obtain insurance coverage through the Lazada app and website, while merchants benefit from tailored protections to safeguard their businesses.
The new ecosystem will collaborate with leading local and global insurers such as AIA, Astra, Income Insurance, MSIG, and Sompo. Peak3 and Lazada are set to deliver a diverse portfolio of insurance propositions across property & casualty, accident and health, and life insurance. Initially, the focus will be on developing embedded insurance, including gadget and electronics protection, and product liability protection to safeguard customers and their purchased goods. Additionally, marketplace insurance options, such as car, accident and travel insurance, provide essential coverage for customers' everyday activities.