- Tenet Fintech’s (CSE:PKK) Heartbeat insurance product management and brokerage platform recently reached a major milestone
- The platform facilitated the sale of more than 3 million insurance policies worth an aggregate value of C$1.05 billion
- The analytics service provider said more than 400 Chinese insurance brokerage companies from across the country were using the Heartbeat platform
- Tenet Fintech last traded at $0.22 per share
Tenet Fintech’s (CSE:PKK) Heartbeat insurance product management and brokerage platform recently reached a major milestone.
The platform facilitated the sale of more than 3 million insurance policies worth an aggregate value of C$1.05 billion.
The analytics service provider said that more than 400 Chinese insurance brokerage companies from across the country were using the Heartbeat platform to connect with, access and sell insurance products from some of China’s largest insurance companies.
“We are extremely pleased to have reached this very important milestone, and to have done so in such a short period of time. Following our acquisition of the platform in 2021, (this) confirms the potential we saw in it by pairing it with our Cubeler Business Hub,” Tenet China Chief Executive Officer Liang Qiu said in a news release. “While we earn a service fee for facilitating the sale of the insurance policies, what we are most excited about at Tenet when it comes to Heartbeat is the widespread use of the platform and the data it allows us to accumulate. For instance, the data tells us that over 2 million of those insurance policies were sold related to a combination of the sale of new cars, the sale of used cars, and to vehicle rentals. We have access to data on when and where the cars were sold or rented, the make and model of the vehicles, and to a wide variety of other data points. In other words, we are beginning to show the ability to have access to the type of insight that would be of great value to insurers, or anyone interested in getting a sense for how the Chinese automobile industry is faring.”
Tenet plans to provide additional milestone updates on other platforms connected to its Cubeler Business Hub in the coming weeks and months.
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology and artificial intelligence companies.
Tenet Fintech last traded at $0.22 per share and has risen 7.5 per cent over the past three months.
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