Southeast Asian eCommerce giant Lazada has announced a strategic partnership with Peak3 to offer a wide range of embedded insurance products, featuring prominent insurers such as AIA, Astra, Income Insurance, MSIG, and Sompo.
Through this collaboration, Lazada customers can seamlessly purchase insurance products via its app and website. Merchants will also benefit from customized insurance protections designed to safeguard their businesses.
Leveraging Peak3’s platform, the integration allows Lazada’s ecosystem to directly incorporate these insurance solutions, connecting its 160 million active users with over one million sellers each month.
The partnership introduces a variety of insurance offerings, including property and casualty, accident and health, and life insurance.
Initial focus has been placed on embedded insurance products such as protection for gadgets and electronics, product liability coverage, and insurance for cars, accidents, and travel, available within Lazada’s marketplace.
Since its inception in August 2024, the joint venture has issued over five million insurance policies across six Southeast Asian nations—Singapore, Malaysia, the Philippines, Vietnam, Thailand, and Indonesia—averaging around 70,000 policies daily.
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