YAS
Make Insurance LOVING Again
YDL is the first Insurtech venture in Hong Kong to employ YAS – a brand-new micro-insurance 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 acustomer-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 kind offerings 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.
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