YAS partners with Generali to launch HK’s first passenger microinsurance

By Leandra Monteiro

YAS recently unveiled Hong Kong’s first passenger microinsurance “RYDE with YAS” in partnership with Assicurazioni Generali S.p.A. Hong Kong Branch (Generali). With simple on-demand passenger microinsurance, daily rides can be insured and protected anywhere and at any time as per the users’ wish.

The “RYDE with YAS” pilot run is open for pre-registration till the end of March 2021. The microinsurance platform 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. Once the app is downloaded the tickets will be immediately available for use. 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. It has also invited industry practitioners and tech experts to join the pilot run to provide valuable feedback for “RYDE with YAS” prior to its official debut.

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.

The introduction of “RYDE with YAS” to the market comes as a solution to address the above issue. The on demand microinsurance for passengers can protect customers’ daily journeys. The insurance covers for accidental death and disablement, accidental medical expenses as well as personal belongings.

The RYDE with YAS passenger microinsurance’s scope of coverage is quite extensive. It includes 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.