YAS Partners with Generali to Launch Hong Kong's First Passenger Microinsurance - "RYDE with YAS"

HONG KONG, March 15, 2021 /PRNewswire/ -- YAS Digital Limited (YAS) unveiled today Hong Kong's first passenger microinsurance "RYDE with YAS" by partnership with Assicurazioni Generali S.p.A. Hong Kong Branch (Generali), as the first Year of the Ox delight to customers. With this smartest and simplest on-demand passenger microinsurance, daily rides will be insured and protected anywhere anytime as users' wish.

The "RYDE with YAS" pilot run is open for pre-registration starting from today. From now until the end of March 2021, customers who register successfully at this website: https://micro-insurance.yas.com.hk/ryde-with-yas will join the "RYDE with YAS" waitlist as a prelaunch user. "RYDE with YAS" will launch on YAS's new mobile app in development, "YAS Connect".  Prelaunch users will receive their set of complimentary tickets for 10 rides valued at HK$40 on the "YAS Connect" app. The tickets will be immediately available for use upon download of the app. Prelaunch users will also be entitled to additional benefits after they protect their first ride, including a welcome offer of up to 10,000 YAS Loyalty Program rewards points for insurance products and gift redemption.

YAS is offering 1,000 sets of complimentary tickets to the public on a first-come-first-served basis. YAS has also invited industry practitioners and tech experts to join the pilot run to gauge insight and feedback for "RYDE with YAS" prior to its official debut. Additional sets will be reserved for the Hong Kong media* during the pilot run,  allowing them to experience the convenience and protection during their rides for reporting and interview assignments.

Hong Kong's high population density and traffic congestions contribute to frequent road accidents. According to the Transportation Department's statistics, Hong Kong has an average of 44 traffic accidents per day, with a death toll of 107 per year. Apart from the road safety concerns, the loss of personal belongings frequency on public transportation such as MTR and buses while commuting is quite high with hundreds of lost items reported daily. People are frustrated by the fact that there is no insurance plan to cover something as small as a single ride.

The introduction of "RYDE with YAS" to the market provides a perfect solution to address the above issue. The ground-breaking on-demand microinsurance for passengers can protect customers' each and every journey of their daily rides, covering for accidental death and disablement, accidental medical expenses as well as personal belongings.

Leveraging on the advanced technology, "RYDE with YAS" serves as a game-changer that reshapes the insurance landscape, enabling customers to activate on-demand protection anywhere anytime. Users' can now start and end their coverage with simply one tap on the App using GPS technology. This passenger microinsurance's scope of coverage is extremely extensive, including public transportation ranging from buses, mini-buses, trams, cable cars, MTR, and cross-harbour ferries. It also covers private cars, taxies, Ubers as well as shuttles. Each Ticket lasts 1.5 hours (90 minutes), covering multiple rides within the trip, with a coverage amount up to HK$200,000, safeguarding them against unpredictable situations during daily commute in Hong Kong and bringing peace of mind.

Key features of "RYDE with YAS^#"

Cover the next ride in 3 steps:               

1. Purchase ticket package
   Choose from 10 tickets, 100 tickets or an unlimited monthly pass before the ride.
2. Activate coverage
   Press 'Go' once the trip is started. Monthly pass users do not need to press go once their package activates on the effective start date.
3. Users are protected for 90 minutes
   Cover multiple rides within the 90 minutes duration of the trip.

"RYDE with YAS#" covers the following:

• Personal Belongings
  Whether it is theft or loss of belongings such as wallets and mobile phones, users are covered for HK$1,000 per item, up to HK$2,000.
• Accidental Medical Expenses
  Medical coverage up to HK$5,000 per ticket package if they are injured in an accident.         
• Death & Disablement
  Covers up to HK$200,000 for death or disablement resulting from a traffic accident.

The official launch of the "YAS Connect" App is on its way – details will be announced by YAS and Generali. Stay tuned. Together, let's RYDE!

"RYDE with YAS" is underwritten by Assicurazioni Generali S.p.A. (Hong Kong Branch) ("Generali"), which is authorised and regulated by the Insurance Authority of the Hong Kong SAR.

For media enquiries, please contact:

Jefferson Lau
Infinite Mind Communications
Email: Jeff@i-mind.com.hk
Office: +852 2236 5621