HONG KONG, July 15, 2023 /PRNewswire/ — YAS ( www.yas.io/timecare) is proud to announce the groundbreaking launch of TimeCare, a revolutionary luxury watch insurance program powered by blockchain technology. TimeCare sets an unprecedented standard in the insurance industry, combining cutting-edge technology and protection to meet the unique needs of luxury watch enthusiasts around the world. This innovative solution offers enhanced security, transparency, and a seamless integrated insurance experience for precious watches.
Distinguished by its features, TimeCare seamlessly integrates insurance coverage into the watch purchase process, providing a streamlined application experience. Leveraging state-of-the-art blockchain technology, TimeCare elevates security, transparency, and efficiency in claims processing, establishing an indisputable record of ownership and authenticity. Unlike conventional home insurance policies with limited coverage and an inconvenient way of appraising the value of individual luxury items, TimeCare at launch will cover a total sum insured of up to $12.8 million underwritten by one from YAS Global Subscription Partners. YAS will also work with luxury brands from around the world, starting with a renowned Asian luxury watch retailer from Hong Kong.
Luxury watches are not mere accessories; they are often investments, keepsakes, and family heirlooms. Watch owners deserve more prudent protection without the hassles and intimidation of the conventional insurance process. TimeCare securely and permanently records policy details, coverage information and watch registrations, including warranty card details for watch buyers.
TimeCare was designed with the utmost dedication and care for watch enthusiasts. This reflects YAS’s commitment to insurance innovation and customer satisfaction, redefining insurance offerings in the global luxury goods market.
William Lee, Co-Founder of YAS, “TimeCare is more than just insurance; it represents a commitment to trust, transparency and efficiency as we build the future of insurance for the next generation. We believe TimeCare will be a singular moment in the time where we began to redefine how insurance works. Combining the immutable nature of blockchain with the perpetual essence of a clock is a perfect match. We’re not waiting for tomorrow, we’re going beyond the hype and we’re doing it today.”
Looking ahead, TimeCare aims to expand its reach and impact the global luxury asset market. The successful launch in Hong Kong sets the stage for further expansion into other luxury regions and products, while inspiring more industries to adopt similar programs and innovations.
YAS at Acerca
Established in June 2019, YAS is an Asia-based award-winning Insurtech company with a vision to deliver new hyper-personalized and autonomous insurance protection through the world of connected data. Leveraging blockchain, machine learning AI models, and GPS telematics technology, it aims to introduce disruptive new business models, underwriting approaches, and provide insurance inclusion for every moment that matters for people around the world. yas.io
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