Zurich Insurance ties up with YAS to cover robots in Hong Kong
Zurich Insurance (Hong Kong) has recently announced a strategic partnership with YAS Insurance to offer embedded insurance solutions for robots, specifically targeting businesses in Hong Kong that are deploying AI and robotics technologies. This collaboration aims to provide tailored micro-insurance products for robots, which will be seamlessly integrated into YAS’ robotics sales and service channels.
The main objective of this initiative is to assist corporate clients in managing operational and repair-related risks associated with the deployment of robotic systems. Zurich Insurance (Greater China) CEO Eric Hui emphasized the importance of leveraging InsurTech to support technological advancements and digital transformation in Hong Kong. By joining forces with YAS, Zurich aims to enhance risk management for robotics applications and facilitate the broader adoption of AI-driven technologies in the region.
Businesses utilizing YAS robotics solutions will benefit from scenario-based coverage, which includes protection against robot repair costs stemming from insured incidents and compensation for deductibles under related insurance policies. Given the diverse risk profiles of different robotics applications, the partnership will address varying exposures through comprehensive coverage encompassing both robot repairs and third-party liability.
YAS co-founder William Lee expressed excitement about the collaboration, highlighting their previous successful partnership with Zurich on protection for electric taxi fleets. Looking ahead, both companies plan to deepen their collaboration in various innovative technology fields such as autonomous driving, electric vehicle ecosystems, drones, and green finance to help businesses in Hong Kong capitalize on opportunities brought by cutting-edge technologies.
In addition to this partnership, Zurich Commercial Insurance recently expanded its Data Center Project Guard product globally, entering new markets in Brazil, Germany, Italy, the Nordics, and Spain. Originally developed by Zurich North America’s construction team, the product quickly gained traction in the US market before launching in the aforementioned regions.
The article “Zurich Insurance ties up with YAS to cover robots in Hong Kong” was first featured on Life Insurance International, a brand owned by GlobalData. This collaboration underscores Zurich’s commitment to innovation in the insurance sector and its dedication to supporting businesses in Hong Kong as they embrace transformative technologies.
