It is well known that a standard white light having a chromaticity such as the CIE source C , can be obtained by combining a single pair of complementary monochromatic sources, at wavelengths of 448 nm (blue) and 568.7 nm (yellow) in the right proportions. This mixture has a luminous efficacy of 400 lumens per Watt, the highest obtainable for a source C white light. It can make a great flash light, but is not a good illuminant, because there is no red in the spectrum, so colors are not reproduced properly.
A practical white light source similar to this is obtainable with a unique phosphor consisting of Cerium doped YAG. (Yttrium Aluminum Garnet). In this crystal, the Cerium ion, has a strong and narrow absorption at about 460 nm in the blue, and the YAG phosphor then fluoresces with a broad yellow spectrum. So blue InGaN LEDs can be used to "pump" this phosphor, at that wavelength. Some of the blue photons escape from the phosphor, unabsorbed, and the mix with the broad yellow to give a visual white light. More phosphor concentration, absorbs more of the blue to give a warmer white color, around 2,700 to 3,000 Kelvin color Temperature, while lower phosphor concentrations give more blue residual so the color Temperature is higher, and the lumens per Watt is higher, because of the lower Stokes shift losses. Additional red phosphors need to be added to give better color rendition, but that is not needed for a flash light.
The light you referred too evidently uses a blue InGaN laser to get the blue light, and they could be using the YAG phosphor or some other kind. The Cerium doped YAG phosphor system is patented by Nichia Corp of Japan, possibly discovered by Shuji Nakamura, who invented the blue GaN laser and LED.
It is not clear that the blue laser, gives any advantage over using a blue LED. The yellow phosphor is going to scatter the yellow photons, and also the residual blue photons, so a point source laser, does not necessarily have any advantage; and is more expensive to make.