YAS and JOIE Launch AI-Driven Usage-Based Insurance for Hybrid Taxis

YAS, an insurtech company, has partnered with JOIE, a Hong Kong taxi fleet managed by Tai Wo Management, to deploy an AI-driven insurance platform designed to adjust insurance premiums based on real-time driving behavior. Initially, the system will cover approximately 1,000 hybrid and electric taxis, aiming to improve road safety, operational efficiency, and insurance transparency for professional drivers. The proprietary platform scores drivers using live data points such as hard braking, sharp turns, and operating hours to dynamically adjust risk levels and insurance premiums. The system also includes a reward program incentivizing safer driving practices, which can lead to lower accident rates and insurance costs. This partnership focuses on three key areas: vehicle electrification through adding hybrid and electric taxis, reforming the insurance structure with a usage-based premium model, and enhancing passenger service with upcoming features like in-vehicle AI assistants and trip protection. For fleet managers, the platform offers real-time dashboards for monitoring driver performance, risk, and incentive progress, facilitating better operational management and driver engagement. This initiative reflects a significant shift in insurance and fleet management approaches by integrating real-time data and AI to support smart mobility solutions.