World's first of its kind! YAS has partnered with AlipayHK to offer free dynamic accident insurance for trips to the mainland. The more you spend, the higher the coverage!

HONG KONG — Hong Kong, October 17, 2024 — When Hong Kong travellers head north with family and friends to shop, dine, and enjoy leisure time in mainland China, YAS and AlipayHK are offering free accident protection through a world-first dynamic insurance solution. Every northbound purchase can be converted into protection. The innovative plan automatically adjusts cover based on real-time spending during each trip and can provide up to 20 times the spending amount for that trip, making journeys safer and more enjoyable. The more users spend, the higher the protection, with a maximum single-trip cover amount of HK$100,000.

As cross-border activity between Hong Kong and mainland China continues to increase, more travellers are visiting the Greater Bay Area for travel, shopping, and dining. AlipayHK data shows that more than 10 million cross-border transport journeys were recorded over the past year. YAS expects the insurance solution to cover more than HK$10 billion in annual spending, using the partnership with AlipayHK to provide free embedded automatic accident protection so travellers can enjoy each trip with greater peace of mind.

Andy Ann, CEO of YAS, said: "This collaboration between YAS and AlipayHK is designed to provide travellers with convenient and seamless protection. Whether they are shopping, dining, or taking transport, every transaction automatically adjusts accident cover in real time, with protection increasing as spending rises. We are committed to creating a relaxed and worry-free travel experience for every traveller, and we hope everyone can enjoy happy moments with family and friends during their trips to mainland China."

Venetia Lee, CEO of AlipayHK, said: "Through this partnership with YAS, we are tailoring northbound protection for more than four million AlipayHK users, giving users protection when they travel, dine, shop, and move around cities in mainland China. As AlipayHK payment becomes increasingly popular for northbound travel, we want to go one step ahead of convenient spending and mobility by adding an extra sense of safety for Hong Kong travellers."

Spend more, upgrade your protection.

Coverage: whether shopping, dining, or entertainment, every northbound transaction during a traveller's trip automatically triggers accident insurance. The coverage adjusts based on spending and can reach up to 20 times the spending amount, with no additional procedure required.

Single-trip cover up to HK$100,000: for each trip, travellers can receive accident insurance protection of up to HK$100,000 based on the amount they spend, helping keep journeys safer.

Free protection with no extra action: this insurance service from YAS and AlipayHK requires no additional action from travellers. Users only need to make everyday purchases through AlipayHK to enjoy additional protection automatically, and can submit claims through the YAS mini-app.

To learn more, search for "YAS" or "northbound consumption accident protection" in the search bar at the top of the AlipayHK homepage to enter the relevant page.

Innovative model: every transaction can protect your journey.

This embedded dynamic accident insurance from YAS and AlipayHK marks a major innovation across insurance and payments. It not only gives travellers convenient protection, but also provides consumers with an added sense of security. As cross-border spending grows, YAS expects this insurance solution to become a new standard for travel insurance globally, offering travellers an unprecedented seamless protection experience.

This first-of-its-kind dynamic insurance solution combines insurance protection with every transaction, increasing consumer confidence and ensuring real-time, flexible, and convenient cover during travel. It also provides additional safety protection for the more than 400,000 daily northbound travellers, becoming an important protection layer in the travel and consumption experience.

This personal accident protection is underwritten by Assicurazioni Generali S.p.A. Hong Kong Branch (Generali) and arranged by YAS Digital Limited. AlipayHK does not provide the above insurance product and is not an insurance intermediary, insurance agent, or insurance broker of Generali or any other licensed insurer.

For detailed policy coverage and exclusions, please refer to the policy terms.

Visit the AlipayHK app YAS mini-app page now.

About YAS: YAS is a leading insurance technology company in Hong Kong, focused on providing dynamic and real-time insurance solutions for modern consumers through innovative AI and blockchain technology. YAS (IA licence number FA2648) is registered under the Insurance Companies Ordinance (Cap. 41 of the Laws of Hong Kong) as an insurance agent for the distribution of general insurance products in Hong Kong. For more information, please visit https://yas.io.

About Generali Hong Kong: Assicurazioni Generali S.p.A. was registered as an authorized insurer in Hong Kong in 1981 and expanded into life insurance through Generali Life (Hong Kong) Limited in 2016. Combining deep local experience with the global expertise of Generali Group, Generali Hong Kong continues to develop distinctive and innovative life, general, professional, and employee benefits insurance solutions for customers' diverse needs.

About AlipayHK: AlipayHK is an e-wallet operated by Alipay Financial Services (HK) Limited (Stored Value Facility Licence No. SVF0004) and regulated by the Hong Kong Monetary Authority. More than 150,000 retail merchants in Hong Kong support AlipayHK payments, including major chains, stores, convenience stores, supermarkets, markets, and restaurants. AlipayHK payment services are also supported in mainland China, Japan, Korea, Thailand, Singapore, Malaysia, and other countries and regions. For more information, please visit http://www.alipayhk.com.

AlipayHK is not only a payment service, but also a comprehensive digital lifestyle platform offering Hong Kong users a wide range of leisure and convenience services, including public transport, wealth management, cross-border payments, P2P transfers, red packets, remittance, bill payment, third-party insurance products, and e-voucher redemption.