In recent years, the rise of InsurTech has tremendously boosted the creativity and room for improvement of the new age insurance industry. As a Hong Kong-based next-generation InsurTech company startup, YAS MicroInsurance has been featured as one of the TOP 10 of the InsurTech Batch 5 in Plug and Play APAC, a well-known global startups accelerator and innovation platform, which has proudly put Hong Kong on the InsurTech’s map.
Plug and Play APAC has announced the TOP 10 of the InsurTech Batch 5 in late June 2021 to showcase and recognize the outstanding InsurTech startups in APAC with unique business models which identify the industry’s leading challenges and implement novel startup solutions. By kickstarting new products like RYDE with YAS, the first-ever insurance product in Hong Kong that provides on-demand 90-min protection for passengers anytime, anywhere at their fingertips, YAS MicroInsurance successfully obtained the TOP 10 in the batch. There are a few successful Hong Kong startups supported by Plug and Play APAC in the past, such as Snapask, Avant, etc.
The huge potential of InsurTech is also attracting an increasing number of venture capital and angel investors recently. For instance, a Berlin-based digital insurance company, Wefox, backed by Li Ka-shing’s Horizons Ventures and raised a record US$650 million in Series C funding, is valued at US$3 billion. The considerable development of the InsurTech industry is highly expected in the foreseeable future, which YAS MicroInsurance will definitely be playing a significant role in.
About the InsurTech of YAS MicroInsurance
The concept of InsurTech is to optimize the user experience by innovation, implementing solutions, improving processes and productivity. Users can hence enjoy a more convenient service, appropriate insurance fee and personalized plan. YAS MicroInsurance makes use of the latest innovative technology such as 5G, AI, blockchain, big data analysis, Open API, etc., to provide on-demand MicroInsurance products that activate protection for you anywhere and anytime on the YAS app. Whether it’s your daily ride to work, a hike in the mountains, or a trip to the vet with your furbaby, YAS care about each moment in your life. YAS Microinsurance is redefining insurance with simple, affordable, flexible products you can control at your fingertips anytime, anywhere. YAS MicroInsurance is probably reshaping the whole industry and creating possibilities for the insurance industry in APAC and the world.
About YAS MicroInsurance products
YAS MicroInsurance launched Hong Kong’s first real-time microinsurance for daily commuters, RYDE with YAS in May 2021. As a bite-sized insurance product, RYDE provides on-demand 90-min protection for you anytime, anywhere at your fingertips. You can control your coverage through the YAS app using GPS technology with a single tap, whether you are on Uber, MTR, taxi, bus or mini-bus. Starting from as low as HK$1.9 per ride, RYDE with YAS provides extensive coverage for your personal belongings up to $2,000, $5,000 for accidental medical expenses and $200,000 for accidental death and disablement. Moving forward, YAS MicroInsurance will be launching more on-demand MicroInsurance products for various activities, such as “HYKE” for hiking, “BYKE” for riding bikes, “RYUN” for running, etc. to achieve the promise of “Every Moment Matters”.
About Plug & Play APAC
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, they have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before.
Plug and Play APAC headquarters was launched in Singapore in 2010 and since then they have expanded into Indonesia, the Philippines and Thailand. They have accelerated over 250 startups across various programs and invested in more than 50 startups from Southeast Asia. Plug and Play APAC actively collaborates with regional governments as well as multinational corporations to accelerate innovation initiatives.