Tenet Fintech Group - CEO of Tenet Asia, Liang Qiu.
CEO of Tenet Asia, Liang Qiu.
Source: Tenet Fintech Group.
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  • Tenet (PKK) has launched the first insurance policy exclusive to its Heartbeat platform
  • The offering, known as the Driver’s Seat policy, allows policy holders to obtain replacement vehicles under certain conditions
  • The policy in endorsed by the People’s Insurance Company of China, the country’s largest insurer
  • Tenet Fintech Group operates an ecosystem of lenders, borrowers and other participants in China’s commercial lending space
  • Tenet (PKK) is up by 5.64 per cent trading at $2.06 per share

Tenet (PKK) has launched the first insurance policy exclusive to its Heartbeat platform.

The offering, known as the Driver’s Seat policy, is a collaboration with eHi Auto Services and the People’s Insurance Company of China.

Policy holders can obtain replacement vehicles in the event of an accident or unforeseen circumstance.

eHi will provide vehicles in support of the policy. It operates a fleet of over 100,000 vehicles through over 5,000 service outlets in over 400 cities.

The policy – which is endorsed by the People’s Insurance Company of China, the country’s largest insurance company – will be sold through eHi’s outlets and more than 400 insurance brokers using the Heartbeat platform.

“Given our expanding membership and the amount of data that we collect every day on the transactions that we facilitate through our Business Hub, we see exceptional opportunities to design insurance policies to fit the needs of our members,” stated Liang Qiu, CEO of Tenet Asia. “We service industrial verticals, such as the oil & gas and the automotive sectors, that could particularly benefit from the right insurance products.”

“We believe that the introduction of the Driver’s Seat policy is the beginning of something of great significance for the company’s operations in China,” he added.

Tenet Fintech Group operates an ecosystem of lenders, borrowers and other participants in China’s commercial lending space.

Tenet (PKK) is up by 5.64 per cent trading at $2.06 per share as of 11:52 am EST.

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