YAS is a blockchain-based insurtech company that offers microinsurance services through smart contracts, providing affordable coverage for specific risks to underserved populations. The platform ensures transparent and efficient claims processing, filling the gap in accessible insurance options for individuals who typically lack coverage.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional insurance models often require fixed monthly or yearly premiums, regardless of actual need, creating a barrier for individuals seeking affordable and flexible coverage for specific, short-term risks. Claim processes can also be cumbersome, requiring extensive paperwork and lengthy waiting times.
Solution
YAS offers on-demand microinsurance solutions accessible through a mobile app, providing users with tailored coverage for specific activities and timeframes. Utilizing GPS technology, YAS enables real-time protection that activates only when needed, such as during a hike, bike ride, or while using public transportation. This approach allows users to manage their insurance spending by paying only for the protection they require, with claim support offered within 48 hours and claim results provided in approximately two weeks.
Target Audience
YAS targets tech-savvy individuals, outdoor enthusiasts, travelers, and those seeking flexible, affordable insurance options without long-term commitments.
Features
- On-demand activation and GPS-triggered insurance policies for activities like hiking, running, and cycling
- Fixed-rate global travel insurance with COVID-19 coverage and rental vehicle excess coverage
- Coverage for loss or damage of personal items, such as mobile phones and AirPods, while using transportation services
- NFT insurance covering theft and loss of NFT assets
- Digital claims process via the YAS app, eliminating the need for physical paperwork
- Partnerships providing specialized insurance products, such as pet insurance and coverage for cross-border activities