The Asia InsurTech Podcast talked to Andy Ann, co-founder of YAS Digital. Andy is a serial entrepreneur who has won numerous awards and brings a wealth of big data, digital media and entrepreneurship expertise. He is the founder and Chairman of NDN Group, a digital conglomerate focusing on data, mobile and media technologies and founded Klarity Analytics, Hot Mob, and Darizi.com.
In the past decade, Andy has worked on digitisation with a range of different industries and understood the need of the insurance industry to change. Insurers are lagging behind when it comes to personalised products and the use of technology. With YAS Andy aims to develop a regional insurtech venture and microinsurance marketplace. Agency distribution is a challenge for small-ticket general insurance products as commission rates per product are very low. With the use of technology together with marketing concepts like viral marketing, loyalty points and referrals, distribution of micro-insurance can be scaled to become more profitable.
In Hong Kong, YAS is currently working with four insurers and is holding an insurance broker license. Outside of Hong Kong, the startup is offering their technology solutions, including API’s, GPS tracker and Blockchain. With these three components, YAS aims to build a micro-insurance marketplace operating similar to an app store with open APIs ready to plug and play on-demand insurance solutions. 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, the insurance coverage will automatically turn ON when the user is on the trail and turn OFF when the user leaves the trail.
This episode is brought to you by
To get in touch with the Uncharted team, email them at email@example.com.