YAS Digital Limited (YDL), a Hong Kong-based regional insurtech venture, today unveiled a microinsurance marketplace in Hong Kong. They described the marketplace as one that “functions like an app store” and “offers a diverse and affordable range of products tailored to customer needs”
Among its features is the YAS GPS Automated Insurance that enables contextual protection when customers are on the move, for example, they shared that if a customer is on a hiking trail the location-based technology with automatically enable insurance coverage for the customer.
They also stated that it is built on an insurance blockchain protocol that they claim is “highly secure”.
YDL has completed its pre-series A funding round from investors including Beyond Ventures, Sun Hing Insurance Holdings of Sun Hing Group, and Merdeka Financial Group since its inception in June 2019. The company is planning to further expand YAS’ presence in the Greater Bay Area, Asia Pacific region and ASEAN countries, including Thailand, Vietnam, Malaysia, Singapore, Taiwan, Japan and South Korea in the coming years.
YDL is planning to offer over 10,000 digitally enabled bite-sized insurance products on YAS, which will be launched with its strategic partners in phases. The company aims to identify 100 more business partners ranging from brands, retailers, insurers, sports, and travel services, each exclusive to their industry segment, to join the company’s revolutionary journey in creating niche insurance products and a customer experience desirable for the current market and future generations.
Source: Fintech HK