Kuala Lumpur, March 13: “YAS Mobility – YASMO”, a cutting-edge blockchain powered drive-to-earn platform, is disrupting the way we drive and own cars, with a mission to create safer roads and smarter cities.
The beta version of its iOS app, available in selected markets across the US, Europe, Canada, Malaysia, Vietnam, Japan, Korea, and Hong Kong powered by YAS’s eco-friendly blockchain, the beta version offers a unique “Drive-to-earn” community environment that incentivises safe driving habits while ensuring the secure storage and sharing of driving data.
By using YASMO, drivers can experience a safer and more entertaining driving experience, while contributing to the greater good of road safety.
The Rapid Growth of the Electric Vehicle Market Poses Challenges for the Car and Insurance Industries
A report by the Alliance for Automotive Innovation in January 2023 estimated that more than 652,000 EVs were sold in the first three quarters of 2022, representing 6.5 per cent of all U.S. light-vehicle sales. Industry forecasts predict that 56 million EVs will be on the roads globally by 2030, led by innovative products and services from EV brands in China and the US. The rise of EVs has significantly impacted both the car and insurance industries.
The new EV technology, drivers’ unfamiliarity with the road performance of EVs, and the driving habits of EV drivers pose significant challenges for insurers, car brands and servicing sector leading to increased repair costs and higher insurance premiums.
YASMO Helps the Automobile Industry to Provide Better Products and Services
YASMO is an innovative mobile app that records real-time data on driving patterns, behaviour, and vehicle performance, which can help to tackle the challenges mentioned above. By forming strategic partnerships with car brands, motor servicing and sales marketplace and ride-sharing companies, YASMO can unlock the overall automobile industry with increased the transparency of driving data, improve data quality, enhance the digital customer experience, and ongoing customer engagement opportunities.
This will result in increased exposure to potential users and unlocking new revenue streams.
YASMO Helps the Insurance Sector to Revamp Underwriting Models and Pricing
YASMO encrypted records on chain help insurers make more informed underwriting decisions and more accurately price risk, leading to lower insurance costs for EV and car owners.
Personalised insurance products with comprehensive details for drivers can be created, resulting in better protection of the driver and road safety, and making insurance more efficient. With encryption, immutable and transparent record on blockchain, users get to own their data and grant consent at their control for better insurance, car product and services.
YASMO Promotes Road Safety, Smarter and Greener City in a Fun and Rewarding Way
YASMO promotes driver safety awareness and reduces risky behaviour through its “Drive to Earn” feature. The app records trips and rewards drivers with tokens based on safe driving habits, incentivising safe driving behaviour, and improving road safety. YASMO’s API connects with brands, merchants, and partners to unlock special rewards thru a global leaderboard further engages the drivers with the right driving behaviour.
“At YASMO, our goal is to make driving more enjoyable and rewarding through the use of blockchain and web3 technologies while improving road safety and the environment,” said Kan Ng, Product Lead of YASMO. “We believe the app will revolutionise the way people view driving and are thrilled to see the positive impact it will have on our communities,” William Lee, Co-Founder of YAS Group Limited.
With its innovative features, partnerships with car brands, ride-sharing companies, and insurers, and unique token reward system, YASMO is set to transform the electric vehicle, grow the automobile market, and disrupt the motor insurance sector.
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