Italian insurer Generali is partnering with YAS Digital on Hong Kong’s first passenger microinsurance solution.
Scope of coverage is extensive, and includes public transportation ranging from buses, mini-buses, trams, cable cars, MTR, and cross-harbour ferriess.
RYDE with YAS has been launched to service Hong Kong’s high population density and will enable customers to activate on-demand protection anywhere anytime.
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.
Users’ can now start and end their coverage with simply one tap on the App using GPS technology.
It also covers private cars, taxies, Ubers as well as shuttles. Each Ticket lasts 90 minutes, covering multiple rides within the trip, with a coverage amount up to HK$200,000.