In Asia, insurtechs like YAS are showing major insurers the way forward with micro products to cover life’s little mishaps.

During the COVID-19 period, when travel became a rarity, local activities in Hong Kong boomed. Sales of bicycles increased significantly and, perhaps expectedly, so did bicycle-related mishaps.

“Accidents went up exponentially,” says Andy Ann, co-founder and CEO of insurtech YAS. Ann was one of the many thousands who took up cycling during the pandemic years.

“We also saw exponential growth in people hiking around Hong Kong, especially during the weekends. They were doing rock climbing and other crazy things and having a lot of accidents.”

One day, as Ann was hiking with his eight-year-old daughter, he wondered what would happen if they had an accident — and what it would take to buy some sort of insurance for his daughter.

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