Daily Markup

Daily Markup #1118: YAS keeps Hong Kong travelers protected with real-time insurance coverage that grows with their spending on AlipayHK

November 18, 2024 · 1 min read
Photo credit: Bastille

Shop, spend, stay safe

  • This one is for Hong Kong residents who frequently travel to the Chinese mainland for leisure and shopping: 500-backed insurtech company YAS partnered with AlipayHK to offer real-time accident protection.
  • Users get free accident protection with each transaction made with AlipayHK. The coverage is automatically adjusted based on a user’s spend on shopping, dining, or transportation, with more spending leading to greater protection.
  • Every purchase is converted into insurance that scales up to 20x the amount spent, with a maximum coverage of HK$100,000 (~US$12.8k) per trip.
  • Over 10 million Hong Kong residents use cross-border transportation services in the past year to travel to China. The YAS team expects this insurance plan to cover over ~US$1.3B in annual spending.
  • “We are committed to creating a relaxed and worry-free travel experience for every traveler, and we hope everyone can enjoy happy moments with family and friends during their trips to the mainland.” – Co-founder & CEO Andy Ann.
  • Read the full story here.
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