HONG KONG, July 30, 2021 /PRNewswire/ -- Yet another milestone for YAS MicroInsurance, a leading microinsurance innovation company headquartered in Hong Kong presenting 'BUS RYDE', the world's first embedded bus passenger microinsurance by YAS. 'BUS RYDE' is a co-creation as part of a strategic partnership with Assicurazioni Generali S.p.A. ('Generali') and Kowloon Motor Bus Company (1933) Limited ('KMB'). This breakthrough innovation and partnership is a step to embrace and in response to the vision and mission stated in the Hong Kong Smart City Blueprint by the Hong Kong Government.
BUS RYDE is a pioneering microinsurance product that delivers care, convenience and a new imagination on insurance experience to over 4 million Hong Kong daily public bus commuters through technology. Through OpenAPIs and Octopus Transit Card (the largest public transportation smart card in Hong Kong) registration on the YAS app, KMB monthly pass holders can seamlessly redeem a BUS RYDE microinsurance protection. An extra peace of mind to protect their personal belongings with coverage of over US$250 (loss or theft) and an accidental medical expense coverage of up to US$640. Note: Generali is the policy issuer and underwriter.
The birth of "BUS RYDE" also brings a new lens for business corporations and partnerships to unlock tremendous synergy between a multinational corporation with 190 years of history ('Generali'), a 88-year mass transportation company ('KMB') and a 18-month hyper growth insurtech venture ('YAS').
'The grand launch of BUS RYDE definitely opens a new chapter for YAS and the insurance industry by connecting and grounding FinTech and InsurTech with the daily lives of the public,' remarked Andy Ann, Co-Founder of YAS. 'As an 18-month-old tech startup, we are very excited and honoured to move forward with more new innovative products in the coming quarters, with our strategic partners, KMB and Generali, each of whom have their expertise, strong base and long history excelling in their own field.'
William Lee, the other Co-Founder of YAS added, 'We believe the launch of BUS RYDE fulfils one of our visions to make our city smarter and safer. As a microinsurance, "BUS RYDE" protection is affordable to all and enables us to be financially inclusive because every moment and every person matters!'
"After Hong Kong, the team is set to embark on a new venture in Southeast Asia and beyond. The experience from partnering with Generali and KMB solidifies our foundation before we bring other microinsurance protection to the region,' said Samson Fong, the Head of Marketing and Partnership at YAS.
About YAS MicroInsurance - Every Moment Matters
YAS is a leading microinsurance and technology company headquartered in Hong Kong with operations in Vietnam and expanding in the Asia Region. Their vision is to enable and embed insurance into the daily moments for everyone, anywhere, anytime and to build a future of insurance that has no wastage, optimized, streamable, sharable and on-demand.
YAS MicroInsurance makes use of innovative technology such as blockchain, Open API, AI, GPS to provide a 21st-century insurance experience to customers. YAS is backed by reputable investors such as 500startups and Beyond Ventures. They have a roadmap coming to Malaysia, Vietnam, India, the Greater Bay Area of Chine and the rest of Asia.
YAS MicroInsurance Website: https://yas.io/
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SOURCE YAS Digital Limited