Zurich Insurance Hong Kong and YAS Insurance, an AI-driven InsurTech platform, have launched a new insurance program for electric and hybrid taxi drivers in Hong Kong, aiming to enhance safety and operational standards through data-driven insights.
The collaboration leverages YAS’s AI-powered TAXY platform to monitor driving behavior and incentivize safe practices across the region’s taxi sector. The insurance program is structured into three tiers, with eligibility linked to a driver’s safety performance as measured by the TAXY platform.
The TAXY system collects and analyzes data related to driving behavior, road conditions, and traffic patterns. It provides real-time alerts and optimized routes designed to reduce risk for drivers. Those who achieve higher safety scores are eligible for additional benefits, including personal property protection and enhanced accident coverage for family members. This tiered approach aims to encourage safer driving habits, ultimately reducing accidents and improving road safety for passengers, pedestrians, and other motorists.
During a six-month trial period, the TAXY platform processed over 39 million data points, encompassing driver behavior, road conditions, and weather patterns. Both Zurich and YAS reported measurable improvements in safety scores among participating drivers. Eric Hui, CEO of Zurich Insurance Greater China, stated, “Our partnership with YAS Insurance is intended to support taxi drivers with protection that meets their needs while contributing to a more resilient transport system.” William Lee, Co-founder of YAS, commented, “Partnering with Zurich allows us to raise service standards, improve fleet efficiency, and bring greater peace of mind on the roads. This program will keep evolving, with new incentives, rewards, and partnerships – from e-commerce to electric charging – to strengthen the entire taxi ecosystem and set the stage for wider adoption.”
Separately, Zurich Malaysia has introduced Z-Driver EV Protect, a new insurance and takaful product specifically designed for electric vehicle owners. This product addresses EV-specific risks such as battery protection, home charging equipment, and portable charging accessories. Optional benefits include coverage for home chargers up to RM15,000, portable cables up to RM2,000, and personal liability during charging up to RM50,000. The package also provides compassionate allowances for incidents at public charging stations and offers optional protection against water damage to batteries. Premiums for Z-Driver EV Protect start at RM120.
