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Grab scales embedded insurance across hundreds of millions of transactions with Peak3's platforms

RESULTS

Market-First Insurance Innovation

Introduced dozens of propositions, from pay-per-trip illness cover to usage-based motor insurance.

Seamless Digital Experience

Built fully digital journeys, integrated with 20+ insurance partners.

Hundreds of Millions of Policies Issued

Proven global scale, supporting high-volume policy issuance across six countries.

Tens of Millions of Insured Users

Deepened engagement and loyalty across the Grab ecosystem.

About Company

Grab is Southeast Asia’s leading super app, offering a wide range of services including ride-hailing, food delivery, digital payments, and insurance solutions. By connecting millions of users, drivers, and merchants across the region, Grab empowers everyday convenience and financial inclusion at scale.

Region

Southeast Asia

Industry

Technology & Digital Services

Utilised Solutions

Fusion & Graphene Cloud Platforms

The Requirements

The Solution

The Impact

The Requirements

Grab is committed to making everyday services accessible and convenient for its users, empowering millions across Southeast Asia to live, move, and transact seamlessly through a single super app.

To extend this mission to financial protection, Grab aimed to make insurance accessible to its users and required a platform that supports:

Comprehensive support for traditional and innovative insurance products across all insurance product lines
Easy configurability to quickly launch, test and iterate insurance propositions in a dynamic environment
Open architecture and extensive integration capabilities to seamlessly integrate with Grab's different services and partner insurersHigh scalability and performance to support hundreds of millions of transactions every year without affecting

The Solution

Digital-first Insurance Platform for Seamless, Embedded, Real-Time and Personalized Coverage

Grab and Peak3 established a partnership in 2019 to scale insurance offerings across the Grab ecosystem, leveraging Peak3's digital-first insurance orchestration platform, Fusion, to enable deeper customer engagement and financial inclusion through embedded insurance distributed from diverse insurance partners. Later, Grab also established its own insurance carrier, leveraging Peak3's insurance core system, Graphene, to power its operations.

Among the notable offerings, Grab's Ride Cover and Critical Illness Pay Per Trip stand out.

Ride Cover provides protection against delays and accidents during trips. Grab customers can opt in once within the Grab app, and for every trip thereafter, a micro-policy is automatically issued, with an affordable premium added to the trip fare. If a delay occurs, compensation is automatically paid to the user’s wallet.
Critical Illness Pay Per Trip provides drivers with a flexible way to accumulate insurance protection through a first-in-market stackable insurance proposition. After a one-time opt-in, drivers can dynamically stack up protection with each trip they complete, boosting their financial resilience.

Through Peak3's platforms, Grab customers benefit from:

Customizable Coverage Options: Users can select add-ons and adjust coverage to suit their personal needs.
Seamless, Event-Triggered Protection: Coverage activates automatically for relevant events, protecting customers without any extra effort.
Real-time Updates: Customers receive instant coverage details and compensation directly within the app.

Read more about how Peak3 enables seamless embedded insurance propositions in our whitepaper series.

Digital-first Insurance Platform for Seamless, Embedded, Real-Time and Personalized Coverage

Among the notable offerings, Grab's Ride Cover and Critical Illness Pay Per Trip stand out.

Ride Cover provides protection against delays and accidents during trips. Grab customers can opt in once within the Grab app, and for every trip thereafter, a micro-policy is automatically issued, with an affordable premium added to the trip fare. If a delay occurs, compensation is automatically paid to the user’s wallet.
Critical Illness Pay Per Trip provides drivers with a flexible way to accumulate insurance protection through a first-in-market stackable insurance proposition. After a one-time opt-in, drivers can dynamically stack up protection with each trip they complete, boosting their financial resilience.

Through Peak3's platforms, Grab customers benefit from:

Customizable Coverage Options: Users can select add-ons and adjust coverage to suit their personal needs.
Seamless, Event-Triggered Protection: Coverage activates automatically for relevant events, protecting customers without any extra effort.
Real-time Updates: Customers receive instant coverage details and compensation directly within the app.

Read more about how Peak3 enables seamless embedded insurance propositions in our whitepaper series.

Digital-first Insurance Platform for Seamless, Embedded, Real-Time and Personalized Coverage

Among the notable offerings, Grab's Ride Cover and Critical Illness Pay Per Trip stand out.

Ride Cover provides protection against delays and accidents during trips. Grab customers can opt in once within the Grab app, and for every trip thereafter, a micro-policy is automatically issued, with an affordable premium added to the trip fare. If a delay occurs, compensation is automatically paid to the user’s wallet.
Critical Illness Pay Per Trip provides drivers with a flexible way to accumulate insurance protection through a first-in-market stackable insurance proposition. After a one-time opt-in, drivers can dynamically stack up protection with each trip they complete, boosting their financial resilience.

Through Peak3's platforms, Grab customers benefit from:

Customizable Coverage Options: Users can select add-ons and adjust coverage to suit their personal needs.
Seamless, Event-Triggered Protection: Coverage activates automatically for relevant events, protecting customers without any extra effort.
Real-time Updates: Customers receive instant coverage details and compensation directly within the app.

Read more about how Peak3 enables seamless embedded insurance propositions in our whitepaper series.

Digital-first Insurance Platform for Seamless, Embedded, Real-Time and Personalized Coverage

Among the notable offerings, Grab's Ride Cover and Critical Illness Pay Per Trip stand out.

Ride Cover provides protection against delays and accidents during trips. Grab customers can opt in once within the Grab app, and for every trip thereafter, a micro-policy is automatically issued, with an affordable premium added to the trip fare. If a delay occurs, compensation is automatically paid to the user’s wallet.
Critical Illness Pay Per Trip provides drivers with a flexible way to accumulate insurance protection through a first-in-market stackable insurance proposition. After a one-time opt-in, drivers can dynamically stack up protection with each trip they complete, boosting their financial resilience.

Through Peak3's platforms, Grab customers benefit from:

Customizable Coverage Options: Users can select add-ons and adjust coverage to suit their personal needs.
Seamless, Event-Triggered Protection: Coverage activates automatically for relevant events, protecting customers without any extra effort.
Real-time Updates: Customers receive instant coverage details and compensation directly within the app.

Read more about how Peak3 enables seamless embedded insurance propositions in our whitepaper series.

The Impact

Pioneering Protection Propositions: Grab introduced innovative accumulator protection offerings, closing coverage gaps for underinsured users.

Scalable Insurance Delivery: Leveraging Peak3’s Fusion platform, Grab integrated with 20+ insurers, issuing hundreds of millions of policies across six countries without adding operational burden.
Enhanced Customer Retention & Loyalty: Embedded insurance offerings provide tangible value, increasing user engagement and repeat usage across the Grab ecosystem.
Diverse Product Portfolio: Grab successfully launched 30+ products across accident, health, property, storage, car, income, and travel categories, meeting a wide range of customer needs.