Lazada partnership offers embedded insurance from big insurers

This integrates insurance solutions directly into Lazada via Peak3's platform.

Southeast Asian eCommerce platform Lazada has partnered with Peak3 to offer embedded insurance from insurers such as AIA, Astra, Income Insurance, MSIG, and Sompo.

Customers can purchase insurance products through the Lazada app and website, whilst merchants gain access to tailored protections for their businesses. 

Utilising Peak3's platform, the partnership integrates insurance solutions directly into Lazada's ecosystem, connecting 160 million active users with over one million sellers monthly.

Insurance offerings include property and casualty, accident and health, and life insurance.

Initial efforts focus on embedded insurance solutions like gadget and electronics protection, product liability coverage, and marketplace insurance options, including car, accident, and travel insurance. 

Since its establishment in August 2024, the joint venture has issued over five million policies across six countries—Singapore, Malaysia, the Philippines, Vietnam, Thailand, and Indonesia—averaging 70,000 policies daily.