YAS Empowers Insurtech with Disruptive Innovations for the Future and Beyond Reshaping the Insurance Industry with a New Ecosystem and Business Model

HONG KONG,July 24,2020 -- YAS Digital Limited (YDL),the Hong Kong-based regional insurtech venture,today unveiled Hong Kong's first microinsurance marketplace – YAS,which utilizes innovative technologies such as 5G,AI,blockchain,data analytics,and open API,to reshape the insurance industry while creating an unprecedented ecosystem and business model for both B2B and B2C customers.

YAS Team Photo

YDL is the first insurtech venture in Hong Kong to employ YAS – a brand-new microinsurance marketplace that functions like an app store,empowering insurers with open APIs ready to plug and play in accordance with growing trends within the on-demand economy. Utilizing a customer-centric open marketplace that offers a diverse and affordable range of products tailored to the customer's needs,YAS provides a digital customer experience beyond protection in every step of their daily lives.

With YAS' smart technologies,the first of its kindofferings are actualized. The YAS GPS Automated Insurance will be made to provide seamless protection to customers when they are on the move. For example: YAS will use location based technology to map out all hiking trails. If the customer decides to use the auto-on feature within the app,insurance coverage will automatically turn ON when the user is on the trail and turn OFF when the user leaves the trail. This GPS enabled protection experience will also apply to golf courses,tennis courts,theme parks,public transportation and more. In addition,the introduction of 5G technology will put telehealth at the customer's fingertips – instant access to a virtual assistant during emergencies or real-time video streaming to a doctor from their home country while traveling will all be achievable.

The deep machine learning technology of YAS creates a new tech-centric ecosystem for B2B and B2C customers,meeting customer preferences and uplifting customer loyalty. Through joint voting and dynamic pricing,YAS provides desirable cost-effective alternatives for customers over full-fledged insurance coverage.

In addition to its inherent novelty,YAS provides ease of mind to all users in data privacy protection. With YASS – the first insurance blockchain protocol developed by YDL's YAS Lab,YAS is enabled with a highly secure network to store insurance smart contracts on the cloud with nodes running across 20 countries,protecting the data privacy of customers. YAS' secure and decentralized data network also enables customers to own their data – with blockchain ledger records and end to end encryption,customers are able to transfer their data across insurance companies on demand.

It also offers data transformation and analytic solutions which are complemented by social data analytics for underwriters to produce single items for specific times and occasions,and to underwrite the right risks,which will facilitate a user-centric insurance future.

Mr Andy Ann and William Lee,Cofounder of YDL,said,"YAS is a perfect blend of technological innovation,digital capabilities,and customer-centric experience; itfosters to build a community with utility,loyalty,and experience to protect people through lifestyle. What's more,it also forms a powerful transformative insurtech business model and ecosystem,leading the evolution of the global insurance market,and reshaping the insurance industry for the next generation. YAS revolutionizes the next generation of consumer experience and behavior through empowerment,quality interaction,and engagement."

YAS is designed with a novel touch point that resonates with customers from all walks of life,setting the scene for the future of insurance by enhancing accessibility,security,diversity,and transparency in order to match customer's needs. By breaking down the complexities of insurance,it helps customers understand what they buy and how they are protected. YAS addresses the pains and frustrations of the claims process,bridges protection gaps,and ultimately insures customers in an automated and meaningful manner.

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.

For more information of YAS,please visit www.yas.com.hk.

About YAS Digital Limited (YDL)

Established in June 2019,YDL (IA License No. FA2648) is a Hong Kong-based regional insurtech venture with a vision to become the leading insurtech in Asia,carving a new hyper-personalized marketplace for both B2B and B2C customers.It aims to introduce a disruptive new business model,create a newecosystem and unlock business possibilities,making the sky the limit for the global insurance industry. The company is registered in accordance with the Insurance Company Ordinance (Cap.41 of the Laws of Hong Kong) as an insurance agent for local distribution of insurance products.

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