Zurich Insurance (Hong Kong), part of Zurich Insurance Group, has partnered with data and AI risk technology company YAS Insurance to promote the use of artificial intelligence and robotics in Hong Kong through embedded insurance solutions.
Under the partnership, Zurich will develop customized microinsurance products for robots and integrate insurance coverage into YAS’ robot sales and service offerings.
The program is designed to accelerate the adoption of robotics across industries, enhance risk management of robotics applications, and provide enhanced protection to enterprise customers and end-users.
Enterprise customers who adopt YAS robot solutions will receive Zurich’s scenario-based insurance to help enterprises introduce robots more smoothly while balancing efficiency gains and potential risks.
The coverage includes maintenance cost protection caused by robot insurance accidents, as well as compensation for related policy deductibles, helping companies manage maintenance and operational risks more effectively.
Every robotic application scenario has its own potential damage and liability risks, requiring professional risk management solutions before companies can deploy such technology with confidence. For example, robots on construction sites often operate in complex environments and around heavy machinery, while robots in retail settings need to move through crowds of people and interact with customers. The partnership aims to enhance financial protection against repair costs and third-party liability and improve operational resilience.
William Lee, co-founder of YAS, said: “Many businesses are already using robots from our partner Axonex in a wide range of environments, including manufacturing and logistics, shopping malls and office buildings, construction sites, restaurants and clubs. By adding innovative embedded micro-insurance, we can further enhance their confidence in applying robotic technology.
“Following our earlier cooperation with Zurich on electric taxi fleet protection, we are pleased to cooperate again in the field of robot insurance. Looking forward, we plan to deepen our ‘laboratory’ cooperation with Zurich in areas such as autonomous driving, electric vehicle ecosystems, drones and green finance to help Hong Kong companies seize the opportunities brought by innovative technologies.”
Eric Hui, CEO of Zurich Insurance Greater China, said: “Zurich has always kept pace with market development and is committed to creating a future where people and technology work hand in hand. We are already an industry leader in online sales, digital claims, self-service and other fields. As artificial intelligence and technology develop at an unprecedented speed, the risks faced by enterprises have become more diversified.
“Through our ‘Labs’ approach, Zurich works with technology companies and stakeholders across different industries to combine forward-looking insights with our risk management expertise and data analytics. This has led to the launch of the ‘Zurich Smart Vision Series’ of microinsurance products tailored for different innovative use cases, providing customers with comprehensive, robust risk and financial protection, allowing them to respond to operational challenges with confidence.
“Zurich has long advocated the wider application of insurtech, which closely aligns with YAS’s vision. Through this collaboration, we hope to combine our respective strengths and use insurance to support technology development to further provide digital transformation and intelligent operations for Hong Kong enterprises.”
