Submitted by

Peak3 (formerly known as ZA Tech)

Premium
02/04/2024 Insurance Innovation
The first cloud-native digital core and distribution system for all businesses across the entire insurance value chain.
Innovation details
Country
Singapore
Category
Insurtech
Keyword
Customer experience, Transformation, Life insurance, Claims management, Underwriting
Business Line
Life Insurance
Distribution Channel
Online / Direct

Innovation presentation

Be it life, health, or P&C, ZA Tech's Graphene is the first truly cloud-native digital core and distribution systems for any insurance business model. Whether fully digital, digitally enabled, or just starting a digital transformation journey, Graphene's cloud-native, agnostic, and multi-tenant design enables it to mold into a valuable business and customer solution, tailored for cloud environments regardless of the provider, allowing multi-tenant and multi-country set-ups with physically segregated data.

ZA Tech’s full-stack, digital-first operating core system, Graphene has already been successfully implemented at leading insurers and digital platforms on a global scale. It is designed with a rapidly evolving digital future in mind to follow the most modern architecture and technology standards.

Goals: - Our primary objective is to empower and accelerate product and business innovation at scale. The adoption of Graphene enhances operational efficiency by optimizing resource allocation and fosters a dynamic learning culture internally to stay abreast of industry trends and advancements simultaneously. Graphene has revolutionised digital capabilities across a spectrum of business models, resulting in a comprehensive all-in-one benefit system. - Drive business growth through tailored and innovative insurance propositions and full omnichannel journeys - Reduce operational complexity, simplify user experience and cut IT costs by 50% through integrated infrastructure, interoperability, and configurability Future expansion opportunities: - Continue to further enhance baseline Graphene features and capability through quarterly free upgrades - Continuous upgrades with a strong product roadmap: ZA Tech has budgeted a considerable amount of budget for R&D activities over the next three years. Our growing R&D team, currently consisting of close to 300 staff - ZA Tech has expanded operations into the European market with an EU head office in Dublin. It is actively pursuing expansion into other regions as well, leveraging Graphene’s capabilities to offer core modernization and insurance product solutions.

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