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 drive regional growth.
The report, titled ‘How modern multi-country insurance core platforms are driving synergies’, sets out the case for insurers to move away from fragmented, country-specific technology stacks in favour of a unified, cloud-native core platform. According to Peak3’s findings, operating on disparate legacy systems limits an insurer’s ability to scale innovation, manage costs, and deliver consistent experiences to customers across markets.
The report identifies a range of measurable benefits for insurers that take a multi-country approach, including operational cost savings of up to 10%, reductions in IT change and run costs of between 40% and 70%, faster product development, improved cross-market collaboration, and a stronger ability to work with distributors and wider ecosystems.
By standardising core workflows such as underwriting, policy administration, and claims handling, insurers can reduce duplication and improve consistency while retaining the flexibility needed to meet local regulatory requirements.
Beyond cost reduction, the report highlights the growing importance of multi-country platforms in enabling insurers to scale products and innovations across borders without rebuilding from scratch in each market. The same logic is applied to artificial intelligence: shared APIs and a common data model allow insurers to deploy and train AI applications across multiple markets, laying the groundwork for scalable, AI-first operations.
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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