HONG KONG, Feb. 10, 2022 /PRNewswire/ — To enhance its service, technology, financial, strategic, and operational strengths, YAS MicroInsurance announced the appointment of seven members to its YAS Advisory Board, whose experience in insurance, information technology, global investing, consulting, and professional services enterprises will help ensure the company continues to design and enhance its technology to cater for clients’ needs and adapt to market trends, and craft development plans for the Asia-Pacific region.
The advisory committee members are industry leaders in the insurance, IT, investment and professional sectors: Mr. Tong Hung, who served as Chief Financial Officer for Allied Esports Entertainment, Inc.; Mr. Lawrence Chu, Chairman of BlackPine Group; Mr. Lennard Yong, Group CEO and Managing Director of Tricor Group; Mr. Baniel Cheung, serial entrepreneur and Founder and Principal Strategist of Integral Consulting Asia Limited; Mr. Cillin O’Flynn, former CEO of Generali Life Hong Kong and GM Assicurazioni Generali S.p.A Hong Kong; Mr. Francis Ngai, Former General Manager, IBM China/Hong Kong Limited and Vice-President of Hong Kong Computer Society in charge of Industry Relations; and Mr. Benjamin Chang, former Regional Managing Director of Aon Asia, currently an Adjunct Associate Professor of The Hang Seng University of Hong Kong as well as an Executive Director of Consolidated Marketing Group International Wealth Management Limited. The members will offer external and extensive industry-related counsel to YAS MicroInsurance on technology and services enhancement. They will also help identify potential markets and advise the company on its future development plans.
Commenting on the appointments, YAS MicroInsurance Co-founder & CEO Mr. Andy Ann said, “Reshaping insurance for the next generation and making it fast, affordable, loving, and flexible have always been paramount for us. For this reason, we felt it was important to launch our YAS Advisory Board, which will assist our passionate team in delivering more comprehensive solutions to help our team further revolutionise insurance industry, innovate more cutting-edge InsurTech that brings us closer to our dream, and expand our business in the Asia-Pacific region.”
“I am excited to join YAS Microinsurance’s Advisory Board and help build on the significant progress already made to date. As a pioneering Microinsurance company, I believe YAS has an incredible global opportunity in front of it and is well positioned for success.” said Mr. Tony Hung, expressing his positive outlook for YAS’s development.
Mr. Lawrence Chu echoed his sentiments, sharing that, “YAS will shape and change InsurTech for the next generation that values on-demand protection products with the flexibility and affordability made possible by blockchain. We look forward to supporting YAS in their expansion to SEA.”
“In early 2020 I resumed my passion for outdoor cycling and since then, I have covered over 1,000 kilometers of Hong Kong bike trails on-road and mountain trails. So when the opportunity to be part of YAS advisory and to support Andy came up, I SAY… YAS. It will change the way we protect our passion for the outdoors.” said Mr. Lennard Yong, showing excitement in joining the Advisory Board.
Mr Baniel Cheung agreed with the potential of microinsurance, stating, “I have been a consultant on digital transformation for many enterprises, and have seen great room for development in Hong Kong FinTech, especially the application in the insurance industry. I am pleased to be able to work with Andy, who has excellent and foreseeing insights on clients’ need and a brand new market of microinsurance, to support YAS MicroInsurance business in Hong Kong and other APAC regions.”
Mr. Cillin O’Flynn concurred with them, saying that, “Out of the many InsurTech ventures I have met in the past many years, YAS is by far the closest one in understanding the core issues in the insurance industry, and in genuinely caring customers with data and details.”
As an active participant in the IT industry, Mr. Francis Ngai said, “Digital technology serves as an enabler to solve real life challenges. I see YAS is exactly bringing a better world to us from an insurance solution perspective using advanced innovative technologies. It serves at any place anywhere anytime anyone and pay-as-you-go format for our insurance need in our daily life like hiking. It’s my honour to be able to contribute to this success.”
Mr. Benjamin Chang is excited with the potential of microinsurance in Asia, he commented, “Asia is home to 4.7 billion people or 60% of the world’s population; fueled by the rapidly developing economies in the region, the potential in offering microinsurance which being fast, affordable, flexible and loving is going to be infinite. Hong Kong which is renowned for being the super connector and insurance hub in Asia will be well positioned to capitalize the immense opportunities of microinsurance.”
About Tony Hung
Mr. Tony Hung brings over 30 years of finance, strategy and operational expertise to YAS Microinsurance. Before joining the YAS Advisory Board, he served as Chief Financial Officer for Allied Esports Entertainment, Inc. AESE a global esports entertainment company, who was responsible for all finance, investor relations, accounting and tax related activities.
About Lawrence Chu
Mr. Lawrence Chu is the Chairman of BlackPine Group, a private investment company focused on transformative industries that advance humanity. With over 15 years of international investment experience, Lawrence, through his company, has provided capital and advice to companies such as VSFG, Kenetic, Lu.com, C2FO, WH Group, and Oriente.
Lawrence is a Hong Kong Private Equity and Venture Capital Association member, and The Chinese General Chamber of Commerce and YPO.
About Lennard Yong
Mr. Lennard Yong is the Group CEO and Managing Director of Tricor Group.
Prior to Tricor, his international experience spanned across financial services in Insurance, Asset Management and Banking having worked and lived in Australia, Asia and Europe for global financial services companies – ING Group, MetLife and FTLife.
Lennard is an active contributor to the Hong Kong financial services industry. He was an advisor between 2014 – 2018 to the HK government’s Insurance Advisory Committee and the former Chairman of the HK Federation of Insurers – Life Insurance Council. Between 2015 and 2021 he was also the Board of Governor of AmCham (HK).
About Baniel Cheung
Mr. Baniel Cheung is a serial entrepreneur and is the Founder and Principal Strategist of Integral Consulting Asia Limited. Baniel is also the Partner and Representative of Hong Kong Office of Ginza West, and the Founder and Chairman of Skytree Investment Asia Limited.
In facilitating entrepreneurship development, Baniel is an Advisor of Beyond Ventures. He is also a Mentor of Hong Kong Science and Technology Park, and the Founding Chairman of Digital Transformation Alliance.
With more than 30 years’ experience in business, Baniel has been holding different management positions in global and Hong Kong listed technology companies, including HongKong Telecom CSL, Wharf T&T, New World Telecom and New Digital System.
About Cillin O’Flynn
Mr. Cillin O’Flynn is a well-known figure in the cross-border life insurance industry, and brings over 23 years of experience with him across insurance, investment, banking, consultancy and information technology.
Prior to his Hong Kong role, O’Flynn had been group head of innovation, strategic and business development for Trieste-based Generali for a little more than a year.
About Francis Ngai
Mr. Francis Ngai is the Vice-President of Hong Kong Computer Society in charge of Industry Relations. He also acts as mentor to many startups in HK like Science Park and Cyberport.
Francis retired in October 2021 after 34 years serving in different roles in the Greater China region of the IBM Greater China Group. He was the General Manager of IBM China/Hong Kong Limited, overseeing IBM’s business operations and strategic development for Hong Kong. Francis has been acknowledged as a transformation leader when he was in IBM. He has been leading the company to assist clients in the digital transformation journey.
About Benjamin Chang
Having served his Asia regional leadership role at Aon since 2003, a global leading premier professional risk and insurance consulting firm which he worked for 28 years since 1991 (including one of its predecessor company – Alexander Lippo), Mr. Benjamin Chang left the company in 2019 and has been taking up a teaching role at The Hang Seng University of Hong Kong as well as on risk management specialist subjects for The Insurance Authority, Hong Kong.
About YAS MicroInsurance
YAS MicroInsurance (YAS Digital Limited, Insurance Agent Licensed Number: FA2648) is an Asia Pacific InsurTech company headquartered in Hong Kong. Applying blockchain and InsurTech, YAS has created a number of on-demand insurance trends for Hong Kong, including hiking insurance, cycling insurance, transport insurance, and the world’s first NFT insurance.
YAS is committed to reshaping insurance for the new generation with technology. As a pioneer of microinsurance in Hong Kong, YAS was selected as the 2021 Deloitte Hong Kong Rising Star.
SOURCE YAS MicroInsurance