Peak3, a global InsurTech provider serving more than 50 insurers across 20 countries, has published a thought leadership report examining how multi-country insurance core modernisation can help insurers unlock cross-border synergies and accelerate regional growth.
The report, titled How modern multi-country insurance core platforms are driving synergies, argues that a unified, cloud-native core platform approach allows insurers operating in several markets to break free from fragmented legacy systems and achieve greater efficiency, innovation, and scale.
According to Peak3’s findings, insurers that adopt a multi-country modernisation strategy stand to achieve up to 10% savings in operational costs, IT change and run cost reductions of between 40% and 70%, faster product development and regional rollout capabilities, improved cross-market collaboration, and a stronger ability to partner with distributors and broader ecosystems.
The report notes that standardising core workflows, including underwriting, policy administration, and claims handling, reduces duplication and improves consistency, while still allowing insurers to meet country-specific regulatory requirements.
It also highlights how a unified platform enables insurers to replicate successful products across markets without rebuilding them from the ground up, shortening time-to-market and supporting regional expansion.
A significant focus of the report is the role of artificial intelligence. The report argues that shared APIs and a consistent data model across markets give insurers a stronger foundation for deploying and training AI applications at scale, supporting what it describes as AI-first operations. This is presented as increasingly important as AI reshapes underwriting, claims processing, customer service, and product development.
Peak3 CEO Europe & Middle East Adrien Lebegue said, “Modernising systems country by country is no longer enough for major insurers. The real opportunity lies in adopting a multi-country approach that enables insurers to harmonise operations and unlock synergies across borders.
“Technology should no longer be seen as a constraint, but as a growth engine. Insurers that take a cross-border approach to modernisation will be better positioned to innovate, scale, and compete in an increasingly digital and AI-driven market.”
Peak3 co-founder and CEO Bill Song said, “Core modernisation matters. But it should not just be modernisation, but rather be combined with harmonisation. The group that runs on one flexible, harmonised core will out-compound the group that runs on a dozen local cores.”
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